BLS International rises on signing visa outsourcing contract with Spanish government for another term

BLS International Services is currently trading at Rs. 176.45, up by 1.75 points or 1.00% from its previous closing of Rs. 174.70 on the BSE.

BLS International
BLS International

The scrip opened at Rs. 174.90 and has touched a high and low of Rs. 177.25 and Rs. 172.50 respectively. So far 31233 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 209.15 on 14-Dec-2022 and a 52 week low of Rs. 83.38 on 28-Jun-2022.

Last one week high and low of the scrip stood at Rs. 194.30 and Rs. 172.50 respectively. The current market cap of the company is Rs. 7177.03 crore.
The promoters holding in the company stood at 74.41%, while Institutions and Non-Institutions held 7.62% and 17.97% respectively.

The Ministry of Foreign Affairs, European Union, and Cooperation (MAEUEC) of Spain has awarded BLS International the global contract for visa application outsourcing for the second time in a row. The contract covers Europe, the Americas, Latin America, the CIS, Africa, the Middle East, and APAC, amongst other regions. BLS International has been serving the Spanish government since 2016 and currently operates 122 visa application centers (VACs) in 40 countries.

This is a very significant win for BLS International, which handles approximately 2 million Spanish visa applications annually and is expected to increase further. The category of national visas is also being outsourced for the first time, which will lead to a further increase in volumes and opening of offices in new geographies. As a part of the contract, BLS will also be offering various value-added services (VAS) like SMS, courier services, mobile biometrics, premium lounge, etc.

BLS International Services is a part of the four decades old BLS Group with a global presence and diversified range of services in polymers and petrochemicals, education, electronics, asset management, visa processing and management consulting.