Following the announcement that the company had secured a contract with the Indian High Commission in Canada, the share price of BLS International increased nearly 7% to a 52-week high. On the BSE, the share price of BLS International was 307.40. BLS International's stock had an intraday high of 316.55 and a low of 305.
According to BLS International Services' exchange filing, the High Commission of India (HCI) in Canada has awarded it the contract to outsource consular, passport, and visa services once more. This arrangement covers the Consulates General of India (CGIs) in Toronto and Vancouver, as well as the Hindu Cultural Institute (HCI) in Ottawa.
Consular help, passport processing, and visa facilitation are just a few of the services that will remain available under the contract's provisions. The company's ability to use technology to improve the application process and optimize operations has contributed to its successful cooperation with the High Commission of India.
"At BLS International, we are honored and delighted to be entrusted with providing Consular, Passport, and Visa services for the High Commission of India in Canada once more."
Our ongoing engagement with the High Commission of India demonstrates our commitment to professionalism and our ability to use cutting-edge technology to improve the consular experience. "As a global leader in outsourcing services, BLS International remains committed to redefining and setting new standards in consular services, cementing our position as the preferred partner for the HCI in Canada," said Shikhar Aggarwal, Joint Managing Director of BLS International Services Ltd.
Technical Points of View
According to trendlyne data, the stock price of BLS International grew 64.82% in the last year, outperforming its sector by 38.96%.
BLS International stock has been in great traction since yesterday, according to Rajesh Bhosale, Equity Technical and Derivative Analyst, Angel One, and today it has experienced a big gap-up opening followed by more purchasing as prices are up around 6%.
"We are seeing strong volumes in this upmove, which we expect to continue in the near term." The next resistance level is 340, with a gap of roughly 300 remaining to act as support.
According to Ruchit Jain, Lead Research Analyst at 5paisa, the stock's overall trend is good. The price increase has been backed by high volumes, and hence the price increase could continue. Investors that already have long positions can profit from the trend. The stock's 20 DEMA support is now located at 280.
