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Multibagger stock update: Global financial services firm buys stake in BLS International

The shares of BLS International climbed from  ₹66.78 on July 14, 2021, to  ₹211.95 at the current price, representing a multibagger return of 217.39 per cent in a year.Premium
The shares of BLS International climbed from 66.78 on July 14, 2021, to 211.95 at the current price, representing a multibagger return of 217.39 per cent in a year.

  • According to information provided by PTI, global financial services giant Nomura Singapore on Monday paid 27 crore in open market trading for 12.5 lakh shares of consumer discretionary corporation BLS International Services Ltd.

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According to information provided by PTI, global financial services giant Nomura Singapore on Monday paid 27 crore in open market trading for 12.5 lakh shares of consumer discretionary corporation BLS International Services Ltd. Nomura Singapore Ltd purchased 12,50,000 shares of the firm at an average price of 214 per share, totalling 26.75 crore, according to bulk deal data made public by the National Stock Exchange (NSE).

The company also disclosed today, on Wednesday, that it has signed an agreement with the Department of Administrative Reforms, Government of Karnataka, to serve as its sole operations partner for two divisions, Mysore and Kalburgi, each of which comprises 15 districts.

The company’s Board of Directors has said in an official statement that “In this project, BLS will partner with Govt. of Karnataka to offer currently available 798 government services of around 78 govt. & departments through SEVA SINDHU PORTAL by establishing Grama One Centres at Gram Panchayat Level. Grama One is envisaged to be single point assistance center for all citizen centric activities at village level which include Government to Citizen (G2C) services, Business to Customer (B2C) services. BLS will also provide multiple B2C services to the citizens through the centres. This is as per the initiative taken by govt. for last mile delivery of Government to Citizen (G2C) & Business to Citizen (B2C) services encouraging employment in rural part of the state. BLS will establish and manage 4074 Centres (Extendable later) in MYSORE & KALBURGI Divisions (15 Districts). The project has been awarded for 5 years extendable further up to 4 years."

Mr. Shikhar Aggarwal, Joint Managing Director of BLS International Services Limited, commented on this and said “We are honoured to sign this contract with the Government of Karnataka and expand our partnership in southern India. We at BLS have been supporting the vision of the Indian government and have consistently been able to generate employment by partnering with different state governments. We are delighted to share that as of now through these state partnerships, we have been able to generate employment for over 30,000 since 2022 across Punjab, UP, Rajasthan and West Bengal. With this partnership, BLS International aims to generate direct employment opportunities for close to 5000 youths of Karnataka."

BLS International recently signed a contract on July 5, 2022 with the Royal Thai Embassy to perform visa services in Kenya. The company has handled more than 62 million applications internationally. Embassies, diplomatic missions, and consulates are among the approximately 46 client governments that BLS International operates with. The company now has a position as a top worldwide player in visa processing thanks to its broad network of more than 27,000 centres.

The shares of BLS International climbed from 66.78 on July 14, 2021, to 211.95 at the current price, representing a multibagger return of 217.39 per cent in a year. The stock has gained from 94.73 on January 3, 2022, to the current level on a YTD basis, representing a multibagger return of 123.74 per cent so far in 2022.

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