Multibagger Stock BLS International Hit 52-Week High Today, Rallies Above 240% In 2022: Buy?

The share price of BLS International hit a fresh 52-week high today, on October 19. The share price stood at Rs. 322.50 a piece, up by around 5% in trade. In 2022, its share price surged by 240.44% on NSE, making it one of the top multibagger stocks to invest in.

Investor Shankar Sharma recently picked a stake in BLS International, and now his stake in the company is valued at around Rs. 31.63 crore. According to the bulk deal data provided by National Stock Exchange (NSE), he picked up 11.5 lakh equity shares. Afterward, the stock price started to rally sharply on NSE.

BLS International Services Ltd. - stock performance

In the last 5 days, the share of BLS International gained by 14.08%, and in the past 1 month it has gained by 18.54%, stock gained by 96.73% in the last 6 months. Additionally, In the last 1 year its share price surged by 176.16%. It is a mid-cap stock with a market capitalization of Rs. 6,634 crore.

The 52-week high level of this stock is Rs. 328.95, and the 52-week low level of this stock is Rs. 89.73.

BLS International is a global tech-enabled services partner for governments and citizens. The company is a preferred partner for embassies and governments across the world, having an impeccable reputation for setting benchmarks in the domain of visa, passport, consular, e-governance, attestation, biometric, e-visa and retail services. It also provides citizen services to state and provincial governments across Asia, Africa, Europe, South America, North America & Middle East.

Financial results

According to data available with NSE, in Q1 FY23, the company's total income stood at Rs. 3,169.19 lakh, as against Rs. 2,672.73 lakh in the previous quarter. The company's profit before tax or PBT was reported at Rs. 1,635.70 lakh in Q1 FY23, as against Rs. 1,356 lakh in Q4 FY22. The company's net profit was reported at Rs. 1,604.34 lakh in Q1 FY23, as against Rs. 1,258.69 lakh in Q4 FY22.

Disclaimer

Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, brokerage firm, and the author are not liable for any losses caused as a result of decisions based on the article.