{"id":104649,"date":"2023-06-28T14:53:04","date_gmt":"2023-06-28T09:23:04","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=104649"},"modified":"2023-06-28T15:56:01","modified_gmt":"2023-06-28T10:26:01","slug":"stock-jumps-6-after-strong-growth-prospects-and-its-subsidiary-company-plans-for-ipo","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-6-after-strong-growth-prospects-and-its-subsidiary-company-plans-for-ipo\/","title":{"rendered":"Stock jumps 6% after strong growth prospects and its subsidiary company plans for IPO\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1333008674\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of BLS International Services Limited surged 6 percent today and are currently trading at Rs 209. The scrip hit its 52-week high at a price of Rs 214.30.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2236851624\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Keeping a time horizon of one year, the stock has delivered multibagger returns of around 105 percent. It means that if someone would have invested Rs 1 Lakh into the stock, it would have converted to Rs 2.05 Lakhs within a period of one year.&nbsp;<\/p><p>The movements in the stock prices are observed after Mr. Shikhar Aggarwal, Joint Managing Director of BLS International Services, commented about future plans pertaining to global expansions.&nbsp;<\/p><p>&#8220;We have plans to invest over Rs 2,000 crore in domestic and global markets to increase our presence. We will continue to tap business opportunities which come our way&#8221;, he commented.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1907541658\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Moreover, the funds will be utilised for entering into some strategic acquisitions with its main focus on India and some of the European nations for the purpose of increasing its presence.&nbsp;<\/p><p>According to a filing with the BSE dated 26th June 2023, the Board of \u2018BLS E-Services Limited\u2019, a subsidiary company of BLS International, approved fundraising by way of an Initial Public Offering (IPO) of its equity shares. The same is subject to receipt of requisite approvals.&nbsp;<\/p><p>The company\u2019s financials, on a consolidated basis, have shown decent improvements with the basic parameters such as the operating revenues moving from Rs 849 crores during FY21-22 to Rs 1,516 crores in FY22-23. Moreover, the net profit figures of the company nearly doubled taking a shift from Rs 111 crores to Rs 204 crores.&nbsp;<\/p><p>As per the March 2023 quarter, the Promoters hold a 74.41 percent stake, and Foreign Institutional Investors (FIIs) hold a 7.57 percent stake in the company.&nbsp;<\/p><p>BLS International Services Limited is involved in providing miscellaneous business services in India such as passport &amp; consular services, etc. The company generates a majority of its revenue from offerings that are rendered to the Middle East region.&nbsp;<\/p><p><strong>Written by Amit Madnani<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-3139596509\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-3913788025\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of BLS International Services Limited surged 6 percent today and are currently trading at Rs 209. The scrip hit its 52-week high at a price of Rs 214.30.&nbsp; Keeping a time horizon of one year, the stock has delivered multibagger returns of around 105 percent. It means that if someone would have invested [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":81074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-104649","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stock jumps 6% after strong growth prospects and its subsidiary company plans for IPO\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The shares of the company surged 6 percent today and are currently trading at Rs 209. 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