1,100 per cent returns: Heavy buying witnessed in this multibagger small-cap stock; hits 52-week highs!

The shares of the company have a ROE of 29.60 per cent and a ROCE of 32.20 per cent.

On Wednesday, shares of BLS International Ltd surged 8.65 per cent to make a new 52-week high of Rs 214.25 per share. At the closing bell, shares of the company were trading at Rs 207.35 per share, up 5.15 per cent.

The sudden rise in the stock price was due to the company’s new announcement that the Board of Directors of BLS E-Services Limited, a subsidiary of the company at their meeting held today i.e., Monday, June 26, 2023 approved fundraising, subject to receipt of requisite approvals, market conditions and other considerations, by way of an initial public offering (IPO) of its equity shares in accordance with the Companies Act, 2013. BLS E-Services Limited would continue to be a subsidiary of BLS International Services Limited.

Additionally, BLS International Ltd a subsidiary of the BLS Group informed that The Ministry of Foreign Affairs, European Union, and Cooperation (MAEUEC) of Spain has awarded the company the global contract for visa application outsourcing for the second time in a row.

Furthermore, in the financial year 2022-2023, the company announced bonus shares 2 times in a ratio of 1:1 each. The first record date was on May 13, 2022, and the second was on December 08, 2023.

As per the financial report, there was a significant increase in net sales by 76.73 per cent and net profit by 117.96 per cent in Q4FY23 compared to Q4FY22. Similarly, in FY23, the net sales grew by 78.40 per cent and net profit increased by 83.64 per cent compared to FY22.

The shares of the company have a ROE of 29.60 per cent and a ROCE of 32.20 per cent. The stock gave multibagger returns of 120 per cent in just 1 year and over 1,100 per in 3 years.  Investors should keep an eye on this small-cap stock.