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Business News/ Markets / Stock Markets/  Multibagger stock announces bonus shares issue in 1:1 ratio
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Multibagger stock announces bonus shares issue in 1:1 ratio

The multibagger stock has surged more than 256% in 2022 (year-to-date or YTD) so far


BLS International Services Limited on Monday announced that the company's board has recommended the issue of bonus equity shares of the company in the ratio of 1:1. Shares of BLS International closed over a per cent higher at 338 apiece on the BSE on Monday.

“This is to inform you that the Board of Directors of the Company at their meeting held on Monday, November 07, 2022, has, inter alia, considered and recommended the Bonus Issue of Equity Shares in the proportion of One new Equity Share of Re 1/- each for every One existing Equity Share of Re 1/- each held by the shareholders of the Company as on the record date (to be determined)," the visa outsourcing company informed in an exchange filing yesterday. Bonus shares are fully paid additional shares issued by a company to its existing shareholders.

Meanwhile, for the quarter ended September 2022, BLS International Services Ltd registered operational revenue of 356.8 crore, registering a growth of over 87% as compared to the year ago quarter. Whereas, its net profit came at 51 crore, up by 85% year-on-year (YoY).

Commenting on the company’s performance, Shikhar Aggarwal, Joint Managing Director, BLS International, said, “Our second quarter performance has been in line with expectations. We are seeing good growth coming in from our visa & consular services as well as e-Governance and banking correspondence businesses. We are well above pre-COVID levels, and once business recovers from key markets such as China and Russia, the ongoing growth from the other regions would be further complemented."

BLS International Services Limited is a global tech-enabled services partner for governments and citizens. The company has a network of more than 12,287 centers globally with a strength of over 15,000 employees and associates that provide consular, biometric and citizen services. It works with over 46 client governments including Diplomatic Missions, Embassies & Consulates and leverages technology.

BLS International shares have rallied more than 200% in a year's period on the BSE, whereas the multibagger stock has surged about 256% in 2022 (year-to-date or YTD) so far, from trading around 94 apiece in January this year, the scrip currently hovers above 330 per share.

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Published: 08 Nov 2022, 10:37 AM IST
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