Small-cap stock: Eraaya Lifespaces share price surged nearly 4% during Wednesday’s trading session following the announcement that its Indian flagship subsidiary, Ebix Technologies Limited, received the Capability Maturity Model Integration (CMMI) Maturity Level 5 certification. This certification represents the highest rating awarded by the CMMI Institute, as indicated by the company in a filing to the exchange.

In a filing with the exchange, the company announced that this esteemed accreditation marks a significant milestone in Ebix Technologies’ growth path, positioning it within a distinguished category of global technology firms. It greatly improves the company’s chances of participating in substantial tenders from the Government of India (GoI) and intricate enterprise technology initiatives across various industries.