BLS International Services Limited. has said that its wholly-owned subsidiary BLS E-Services Private Limited has acquired Delhi-based Starfin India Private Limited, a Banking Business Correspondent of India’s largest bank, State Bank of India. 

The company’s standalone revenue for the quarter came in at Rs. 319 crore, registering 7.5 per cent yoy decline. The PAT for the quarter came in at Rs. 34 crore, yoy increase of 11 per cent.

Blue Star Limited reported mixed set of numbers with flat top-line. However, the bottom-line for the quarter grew strongly.   

The PAT for the quarter came in at Rs. 4.66 crore as against just Rs. 1.50 crore in the corresponding quarter last year, yoy increase of 210.7 per cent.

The PAT for the quarter came in at Rs. 5.29 crore as against Rs. 1.72 crore in the corresponding quarter last year, yoy increase of 207.6 per cent.

Further, to enhance focus on the light material space, it is planning to set up Aluminium forging facility in USA by investing US$55 million. This would cater North American market and production of the same is likely to commence in CY20.

On Thursday, the Indian broad market index BSE Sensex hit fresh all-time high and crossed the mark of 38,000 for the first time. This rally was led by banking majors such as ICICI Bank, SBI and Axis Bank. We at DSIJ had predicted this level way back in April.

With the reduction in interest rate during last couple of years due to refinance of debt in 9 SPVs out of 11 operational SPVs, the company has seen finance costs reducing by Rs. 30 crore yoy. Now this along with healthy growth in traffic volume has led to increase in cash profits by Rs. 59 crore yoy, jumps by 223.54 per cent.

Following stocks are close to their 52-week low as at 12.39 p.m. on August 9, 2018.