BLS International rises on signing visa outsourcing contract with Spanish government for another term!
Shares of the company have gained more than 75% in just one year.
New contract win
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 centres (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 the 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.
Share price movement of BLS International Service Limited
Today, the stock opened at Rs 174.90, with a high and low of Rs 181.70 and Rs 172.50. Currently, the stock is trading at Rs 176.35, up by 0.94%. The stock has a 52-week high of Rs 209.15 and a 52-week low of Rs 83.38.
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. The company recently won contracts to process visas from the Royal Thai Embassy in Kenya, from the Royal Thai Consulate in Mumbai and New Delhi, Kolkata and Chennai and to process German visas in North America and Mexico.
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