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EBIX stock split shelved, new Indian bus contract ?3

13:58 21-Dec-18


If you were wondering whatever happened to that 5 for 1 stock split in EBIX shares, well so was I, sort of.  With recent share price declines, it would have put the stock into single digits, and today we get official word the board has shelved the plan for the time being.  That's a black eye for management, but almost certainly the right decision.

The company has also announced a 5 year contract to build, own and operate an end-to-end Bus Exchange solution for "a key North Indian state" serving approximately 300M passengers.  Ebix is not disclosing the specific location until the state issues a common press release.  It also says

We expect many more such wins over the next few quarters, for similar deployments in other states of India.

The data services being provided to government combined with the cross-selling opportunities on the front-end kiosks that Ebix will provide are exactly the sort of exposure to India that I am looking for.  I've always portrayed Ebix as a highly volatile long-term opportunity and I'm nowhere close to backing off it in the current market situation.