Monday, May 20, 2024

BLS International inks agreement with the Embassy of Poland in Manila for VISA outsourcing services

BLS International Services Ltd. is a mid-cap company with a market capitalization of Rs. 6,203 Cr. It operates in the travel services industry. An online visa application centre in India BLS International offers visa consulting services.

With the Polish Embassy in Manila, the company has a contract in place to offer outsourcing services for Visa. The company will be processing 20,000 applications yearly and setting up offices in Manila and Cebu as part of this deal.

Mr. Shikhar Aggarwal, Joint Managing Director, of BLS International, said “We are especially excited about signing this contract with the Polish government as it commences our association with them and we are very positive about participating in their upcoming tenders worldwide. Additionally, the rising demand for last-minute getaways, combined with the ease of travel, will make it a win-win situation for all.” 

The company now offers consular, biometrics, and citizen services through a vast network of more than 27,000 facilities across the world with a strong strength of over 20,000 employees and associates. Almost 62 million applications have been handled by BLS so far internationally. The business is listed among “Fortune India’s Next 500 companies,” “India’s Most Valuable Companies” by Business Today Magazine, and “Best Under a Billion’ Company” by Forbes Asia. The organisation uses technology and procedures that guarantee data security and works with over 46 client nations, including diplomatic missions, embassies, and consulates.

Commenting on the technical outlook of the stock A R Ramachandran, Co-founder & Trainer-Tips2trades said “Despite strong fundamentals with excellent profit growth and low debt to equity ratio, the phenomenal uptrend since last year has made BLS international overvalued and hence the recent price correction looks justified. Technically, another Daily close below 154 could lead to targets of 145-131 in the near term. Strong resistance will be at 157.”

The shares of BLS International Services closed today on the NSE at 150.90 apiece, down by 1.40% from the previous close of 153.05. In the last 1 year, the stock has generated a multibagger return of 154.00% and on a YTD basis, it has fallen 12.45% so far in 2023. The stock touched a 52-week-high of 208.90 on (14-Dec-2022) and a 52-week-low of 57.70 on (29-Mar-2022).

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