Multibagger Update: This scrip soared 200 per cent in just one year!
Considering the last six-month time period, the stock has surged nearly 90 per cent
On Thursday, the scrip of BLS International Services Ltd surged over 9 per cent as the company announced that it has acquired the Mumbai-headquartered largest business correspondent in the country – Zero Mass Private Ltd (ZMPL). With this all-cash acquisition from the company's internal accruals, BLS International became the largest business correspondent network in India.
BLS International has agreed to acquire 100 per cent equity shares of ZMPL for an equity consideration of Rs 120 crore, including the entire equity stake of 63.94 per cent held by Anurag Gupta (main promoter). Now, BLS International owns an 88.26 per cent equity stake in ZMPL. Meanwhile, State Bank of India continues to hold a 6.83 per cent equity stake in ZMPL.
The shares of BLS International Ltd soared 200 per cent in just one year. Considering the last six-month time period, the stock has surged nearly 90 per cent while over the span of one month, it was able to deliver nearly 16 per cent returns to its shareholders. Today, the stock witnessed a spurt in volume by more than 2.13 times.
A trusted global services partner for governments and citizens, BLS International is amongst the top three players globally in this domain. It is a preferred partner for embassies and governments across the world. It has the best reputation for setting benchmarks in the domain of visa, passport, e-governance, attestation, biometric, e-visa, and retail services.
Considering the bright future outlook of the company, we suggest keeping a close eye on this scrip for the upcoming sessions.