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Shares of BLS International soar on bagging contract from the High Commission of India in Canada

12 December 20233 mins read by Angel One
The company's successful partnership with the High Commission of India is largely due to its technological expertise in enhancing application processes and streamlining operations.
Shares of BLS International soar on bagging contract from the High Commission of India in Canada
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About the contract 

BLS International Services has been awarded the contract for outsourcing Consular, Passport, and Visa services by the High Commission of India (HCI) in Canada. This contract encompasses operations at HCI in Ottawa and Consulate Generals of India (CGIs) in Toronto and Vancouver.

As part of the contract, BLS International will continue to provide a range of services, including consular support, passport processing, and visa facilitation. The company’s expertise in leveraging technology to enhance the application process and streamline operations has been a key factor in its successful partnership with the High Commission of India.

Share price movement 

BLS International Services is currently trading at Rs 314.55, up by 18.20 points or 6.14% from its previous closing of Rs 296.35 on the BSE. The scrip opened at Rs 307.40 and touched a high and low of Rs 316.25 and Rs 305.00 respectively. So far 20,7139 shares have been traded on the counter.

The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high of Rs 316.25 and a 52-week low of Rs 149.70. Last one week high and low of the scrip stood at Rs 316.25 and Rs 278.90, respectively. The current market cap of the company is Rs 12,201.94 crore. The promoters holding in the company stood at 71.52%, while Institutions and Non-Institutions held 7.73% and 20.75%, respectively.

About the company 

BLS International is a global company that has outsourced visa and passport services to 36 client governments and Indian State Governments since 2016. The company aims to promote transparent e-governance by providing over 223 services through a single window. BLS’s success is driven by innovation in technology, skilled personnel, data security, and superior quality of services.

The company’s proprietary technology platform and mobile biometric service enhance citizen engagement. BLS is part of the BLS Group, which offers diversified services in polymers, petrochemicals, education, electronics, asset management, visa processing, and management consulting.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions. 

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