From over ₹90 to ₹380, this multibagger stock rises 300% in 1 year; to issue bonus shares soon
2 min read . Updated: 05 Dec 2022, 12:19 PM IST
Premium- The stock has emerged as a multi-bagger with gains of more than 305% in a year. The stock has made its journey from a little over ₹90 to near ₹380 levels. On Dalal Street, BLS International shares are currently coupled of rupees away from clocking their 52-week high.
BLS International Services is among the leading players in providing visa services. This small-cap stock is in focus this week ahead of its bonus shares record date. The stock has emerged as a multi-bagger with gains of more than 305% in a year. The stock has made its journey from a little over ₹90 to near ₹380 levels. On Dalal Street, BLS International shares are currently coupled of rupees away from clocking their 52-week high.
At around 11.49 am, BLS International shares traded flat at ₹370.70 apiece. However, the stock gained by over 2% with an intraday high of ₹379.15 apiece. At the current market price, the company's valuation is nearly ₹7,625 crore on BSE.
Last week, BLS had clocked a new 52-week high of ₹389.20 apiece ahead of the bonus shares issue.
The company has fixed December 10 as the record date to determine eligible shareholders for the bonus issue in the ratio of 1:1. Thereby, BLS International will turn ex-bonus on December 8, as per BSE filing. The ex-date is when the price of an equity share of a company gets adjusted for the dividend payout or bonus issuance.
The ratio 1:1 means that the company will issue one bonus share on existing one share having a face value of Re 1 each.
Generally, bonus issues are free additional shares given by a company to 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 is a multibagger stock and in a year it has recorded strong growth on exchanges. Investors' wealth has risen by over 4-folds in a year.
The stock was around ₹93.50 apiece on December 6, 2021. The stock traded between ₹91 to ₹110 in December last year. However, 2022 has been fruitful for the stock as they have witnessed notable buying from investors. In a year, the upside in BLS shares is at least 305.50%.
Taking into consideration the fresh 1-year high which was recorded on December 1, 2022, BLS stock has skyrocketed by over 314% in a year.
In 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. During the second quarter (Q2FY23), the company's net profit and income from operations jumped to ₹50.99 crore and ₹356.84 crore compared to ₹27.46 crore and ₹190.46 crore in Q2FY22.
BLS International 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.
