BLS International bags contract for Italian Visa processing in Russia; Stock zooms 3 per cent

BLS International, which has set a benchmark in visa processing, passport, consular, e-governance, biometrics, etc, has won a contract from the Italian embassy in Russia for the processing of Italian visas for five years. The company is estimated to process approximately 1,40,000 applications annually in 20 centres across Russia. The stock has upsurged nearly 3 per cent up as of 11:30 am.

Other value-added services such as mobile biometric, translation, premium lounge, doorstep services, photo booths, etc. are included in the contract. It can be agreed without a debate that tourism was one of the worst-hit industries during the pandemic. BLS was no exception to this. However, it is gaining traction partially owing to such a contract. The company is in talks with the Italian embassy in Singapore too. Will these contracts act as a booster for BLS? It would be worth keeping an eye on the stock. 

The stock has a 52-week high of 309.25 and a 52-week low of 71.35 as on BSE.