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Business News/ Markets / Stock Markets/  BLS International Services turn ex-bonus, shares rise by 10%
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BLS International Services turn ex-bonus, shares rise by 10%

Under the 1:1 bonus issue, the company will issue one bonus share on the existing one share. The face value remains the same for equity shares at Re 1 each.

Ex-date is is when the price of an equity share of a company gets adjusted for the dividend payout or bonus issuance generally. (HT)Premium
Ex-date is is when the price of an equity share of a company gets adjusted for the dividend payout or bonus issuance generally. (HT)

BLS International Services hit a new 52-week high on exchanges as the stock turned ex-bonus on Thursday. BLS received strong buying demand in shares ahead of its 1:1 bonus issue record date. The smallcap stock is a multi-bagger and has given a 2-folds return to investors in a year. Ex-date is is when the price of an equity share of a company gets adjusted for the dividend payout or bonus issuance generally.

At around 1.43 pm, BLS stock traded at 191.90 apiece up by 6.23%. However, the stock gained by at least 9.7% in the day so far after clocking a new 1-year high of 198.20 apiece.

Currently, its market cap is around 7,884 crore.

On the previous day, BLS shares were at 198.20 apiece.

Under the 1:1 bonus issue, the company will issue one bonus share on the existing one share. The face value remains the same for equity shares at Re 1 each.

In general terms, bonus equity shares are free additional shares issued by a listed company to their existing shareholders free of cost. A bonus issue increases the number of outstanding shares while reducing the share price in proportion to the number of bonus shares issued. It also creates implicit value per equity share and increases liquidity in equity shares on the stock exchanges.

BLS International set December 10 as the record date for determining the eligible shareholders for the bonus issue. While December 10 is a weekend, and the market will be closed. Hence, for the bonus issue, shareholders whose names appear in the record book of the company by end of December 9 are eligible. That means, BLS International shares must be in your Demat account by Friday-end to be eligible. Thereby, BLS International shares have turned ex-bonus on Thursday.

BLS is a multibagger stock and in a year it has recorded strong growth on exchanges. Investors' wealth has risen by a little over 2-folds in a span of 1 year. The shares were below 97 levels on December 8 last year. Since then, BLS shares have skyrocketed by at least 105% on Dalal Street to date. 

For the first half of FY23, BLS recorded a consolidated net profit of 81.69 crore compared to 47.71 crore in H1FY22, while income from operations stood at 629.66 crore versus 368.99 crore in H1FY22.

The company is a preferred partner for Embassies and Governments across the world, having an impeccable reputation for setting benchmarks in the domain of visa, passport, consular, e-governance, attestation, biometric, e-visa, and retail services.

In FY22, the company paid a dividend of 125% aggregating to 1.25 per equity share.

The company's dividend yield as of December 8, 2022, is around 0.6%.

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Published: 08 Dec 2022, 01:49 PM IST
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