Latest news with #EraayaLifespaces
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Business Standard
a day ago
- Business
- Business Standard
Ebix Tech secures ₹140 crore contract from Maharashtra Transport Corp
Ebix Technologies, Indian subsidiary of Eraaya Lifespaces, on Tuesday announced securing a ₹140 crore contract from Maharashtra State Road Transport Corporation for the first state-wide rollout of the National Common Mobility Card for concessionaires in India. Once fully operational, the project is expected to clock transactional volumes to the tune of ₹2,000 crore annually, boosting the entity's digital transaction ecosystem and passenger convenience, Ebix Technologies Limited, earlier known as EbixCash, said in a statement. In November 2022, the company was awarded a contract to supply and maintain 38,622 Android-based Electronic Ticketing Machines (ETMs) integrated with an online reservation system. This mandate has successfully facilitated the issuance of approximately 220 crore passenger tickets in the past two years, Ebix Technologies said, adding that this network spans MSRTC's fleet of over 16,000 buses, serving more than 13 crore passengers monthly across urban and rural Maharashtra. The newly-awarded National Common Mobility Card (NCMC) programme expands this partnership with a focus on smart and interoperable payments that will revolutionise how millions travel daily, it said. Spearheaded by the National Payments Corporation of India (NPCI) in collaboration with the Ministry of Housing and Urban Affairs, the initiative enables passengers to use a single smartcard across multiple transport modes, creating a truly integrated mobility ecosystem, Ebix said. "With the NCMC rollout, we are not just introducing another payment method. We are fundamentally reimagining how citizens experience everyday travel across Maharashtra," a company spokesperson said. The project includes mandatory adoption of the NCMC smartcard for all concessional passengers and pass holders on MSRTC buses, with optional availability for regular passengers, a minimum business assurance of 70 lakh NCMC cards to be sold in the first year alone, scaling to over 2 crore cards issued statewide through a network of 3,000 dedicated retail outlets established by Ebix Technologies, among others.
India Today
14-07-2025
- Business
- India Today
Mahadev betting app case: Companies owned by Vikas Garg under ED scanner
The Directorate of Enforcement (ED), investigating the Mahadev Betting app money laundering case, uncovered earlier this year how the mastermind of the betting network, Harishankar Tibrewal through Foreign Portfolio Investment (FPI) had invested in several listed Small and Medium Enterprises (SME) purpose of doing so was to manipulate stocks, artificially inflate the stock prices of SME companies in which FPI investments were made. Once the share prices rose, they were dumped and Tibrewal and his accomplices would double or sometimes triple their per sources, the acquisition of Nasdaq-listed Ebix Incorpotated, last year, by an Indian firm, Eraaya Lifespaces, which is promoted by one Vikas Garg, is now under the radar of the anti-money laundering agency. The suspicion by the agency is regarding the funds raised for the acquisition of Ebix Inc. by Eraaya Lifespaces. Ebix Inc. was acquired by Eraaya Lifespaces last year through funds raised from multiple channels and officials, as per sources, also flagged the meteoric rise in the share prices of Eraaya Lifespaces and asked Bombay Stock Exchange officials to investigate it. The suspicion is over the funds raised and later used for the are multiple such SME listed and unlisted companies, promoted and run by Vikas premises were also searched when multiple other companies and linked properties were searched on April 16 by ED of Garg's promoted companies which are under investigation are Vikas Lifecare Limited, Vikas Ecotech Limited, Advika Finvest, Advika Capital Limited and investigations revealed that Tibrewal had, through FPI, made investments in multiple firms owned by then, Garg has been issued multiple summons by ED officials to join investigations in the case. Earlier Garg's companies were under investigation by the Income Tax Investigation Wing, GST and few other other companies under investigation in the case have also been asked to join investigations, which include firms like Ease My Trip, IITL, JTL Industries, Gensol and others. The Securities and Exchange Board of India (SEBI) also has been informed by ED officials regarding manipulation of shares and artificial inflation of proximity to Tibrewal is also being probed by agency officialhttps:// Acquisition attempts for a club in the United Arab Emirates (UAE) were also under the other companies where Tibrewal had invested through FPI, the promoters of many of those companies, are known to Garg has so far carried out around 170 raids across the country and several companies, persons and entities in the Mahadev Betting app case and assets worth over rupees 3000 crores in property, cash and movable properties have been attached, including demat accounts and share holdings.- EndsTune InMust Watch
Mint
02-07-2025
- Business
- Mint
Small-cap stock below ₹50 edges higher despite stock market sell off
Eraaya Lifespaces share price rose by nearly 4% during Wednesday's trading session, following the announcement that its subsidiary, A.D.A.M. Consumer Health (ADAM), successfully achieved and upheld its URAC Health Content Provider Certification. The firm stated that this accomplishment is an important milestone that highlights its dedication to delivering reliable, high-quality, and trusted health information to consumers. The acronym A.D.A.M. stands for Animated Dissection of Anatomy for Medicine, as mentioned by the company in a filing with the exchange. Despite undergoing considerable organisational shifts and strategic reconfigurations over the past year, A.D.A.M. has shown remarkable resilience and a steadfast dedication to excellence. The renewal of this globally esteemed certification serves as proof of the team's commitment to quality standards, patient education, and consumer trust, as stated by the company in a filing to the exchange. Alongside achieving this quality benchmark, A.D.A.M. has reported robust financial results despite facing wider challenges. In the fiscal year 2023-24, A.D.A.M. announced total revenue of around USD 7.7 million, indicating its ongoing leadership in health education solutions, medical illustrations, and the development of evidence-based content. With a diverse client base that includes healthcare providers, educational institutions, insurance companies, and digital platforms worldwide, A.D.A.M. continues to play a vital role in the healthcare content and e-learning sector of the Ebix Group. 'Maintaining the URAC Certification in such a dynamic operational environment is an achievement and we are truly proud of it. This reaffirms the trust placed in A.D.A.M. by our global customers and strengthens our ability to offer high-integrity content that educates and empowers users,' said Ashish Jaitly ED & CEO, Global Technology Business. Eraaya Lifespaces share price today at ₹ 44.50 apiece on the BSE, the stock touched an intraday high of ₹ 45.55 apiece, and an intraday low of ₹ 42.90 per share. Over the previous week, the stock decreased by -4.99%. It has dropped by -25.41% over the last quarter and has seen a decline of -45.04% over the past year, as reported by
Mint
02-07-2025
- Business
- Mint
Small-cap stock below ₹50 edges higher despite stock market sell off
Eraaya Lifespaces share price rose by nearly 4% during Wednesday's trading session, following the announcement that its subsidiary, A.D.A.M. Consumer Health (ADAM), successfully achieved and upheld its URAC Health Content Provider Certification. The firm stated that this accomplishment is an important milestone that highlights its dedication to delivering reliable, high-quality, and trusted health information to consumers. The acronym A.D.A.M. stands for Animated Dissection of Anatomy for Medicine, as mentioned by the company in a filing with the exchange. Despite undergoing considerable organisational shifts and strategic reconfigurations over the past year, A.D.A.M. has shown remarkable resilience and a steadfast dedication to excellence. The renewal of this globally esteemed certification serves as proof of the team's commitment to quality standards, patient education, and consumer trust, as stated by the company in a filing to the exchange. Alongside achieving this quality benchmark, A.D.A.M. has reported robust financial results despite facing wider challenges. In the fiscal year 2023-24, A.D.A.M. announced total revenue of around USD 7.7 million, indicating its ongoing leadership in health education solutions, medical illustrations, and the development of evidence-based content. With a diverse client base that includes healthcare providers, educational institutions, insurance companies, and digital platforms worldwide, A.D.A.M. continues to play a vital role in the healthcare content and e-learning sector of the Ebix Group. 'Maintaining the URAC Certification in such a dynamic operational environment is an achievement and we are truly proud of it. This reaffirms the trust placed in A.D.A.M. by our global customers and strengthens our ability to offer high-integrity content that educates and empowers users,' said Ashish Jaitly ED & CEO, Global Technology Business.
India.com
19-06-2025
- Business
- India.com
This company shares hit 5 percent upper circuit even as markets decline
शेयर बाजार में हाहाकार, अरबों डॉलर हुए स्वाहा Shares of Eraaya Lifespaces were locked in the 5 per cent upper circuit limit on Thursday, June 19, 2025, amid a negative trend in the Indian stock market. The upper circuit limit, a regulatory measure, prevents the stock from being traded above a certain price level on a given day. The counter opened gap up with a gain of 4.78 per cent at Rs 48.25 against the previous close of Rs 46.05 on the BSE. It continued the upward trend and hit the intraday high of Rs 48.35, also the upper circuit of the stock. The 52-week high of the stock is Rs 316.90 and the 52-week low is Rs 40.37. Company's Subsidiary Expands Nationwide Business The action in the shares comes as the company has informed exchanges that its subsidiary Ebix Travels has broadened its Nationwide Business Associate Centre Network. The company's BAC initiative, launched in 2024, has already led to the establishment of over 20 Business Associate Centres across India. With plans to scale up to 100 centres by the end of FY 2025-26, the company is setting ambitious goals for its future. 'The launch of our Business Associate Centres represents more than just geographical expansion – we are creating a nationwide network of innovation hubs that reflect our unwavering commitment to revolutionizing India's travel landscape,' said Naveen Kundu, Managing Director of Ebix Travels Eraaya Lifespaces Share Price History Shares of Eraaya Lifespaces has given a multibagger return of 3895 per cent in two years, a term used to describe stocks that have provided returns multiple times their initial investment. However, it has corrected 33.56 per cent in two years and 67.68 per cent in six months. The counter is in action even as benchmark indices Sensex and Nifty declined in early trade amid weak trends from global markets as the ongoing Iran-Israel conflict, which has led to geopolitical tensions and concerns about oil supply disruptions, continue to weigh on investors' sentiment. In Asian markets, South Korea's Kospi, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng were quoting in the negative territory. US markets ended on a mixed note on Wednesday.
