Shares of BLS International Services, according to Deposit Exness, hit a 52-week high of Rs 251.50 when they rose 6 per cent on the BSE in intraday trade on Thursday, up 15 per cent in the last two trading days in a weak market. By comparison, the S&P BSE Sensex Index was up 0.06 per cent to 58,285 points at 10:50 am. The stock has gained 75 per cent in the last two weeks, compared with a 5.3 per cent increase in the underlying index.
BLS International Services is engaged in outsourcing and providing administrative services for visas, passports and consular services to various diplomatic missions around the world. The company also provides certification and apostille services on behalf of the Ministry of Foreign Affairs.
The company also provides services to state and provincial governments in Asia, Africa, Europe, South America, North America and the Middle East, where they have scaled services to cover over 66 countries.
On 2 September, BLS International announced the signing of a contract with the Ministry of Foreign Affairs of the Republic of the Philippines to provide e-passport renewal services, starting with Italy, Qatar and Malaysia.
BLS will provide e-passport renewal services on behalf of the Republic of the Philippines in Italy, Qatar and Malaysia. With this, the Department of Foreign Affairs intends to simplify the renewal process for Filipino citizens residing abroad. The opening of e-passport renewal centres (PaRCs) in these countries will give Filipinos the opportunity to apply for e-passport renewal at a time and place that is convenient for them, the company said in a statement.
Looking ahead, the company said in its FY 2020-21 annual report that global technology services are based on low penetration of advanced technology in services offered by the government, in addition to semi-automation. which increases the likelihood of errors, time and cost. In addition, citizens are increasingly turning to technological tools such as mobile phones and digital services to perform monetary and non-monetary transactions, search for information and handle complaints, it said.
Meanwhile, the medium and long-term outlook for the travel industry is encouraging and optimistic, the company said, adding that the optimism is driven by the availability of multiple accommodation and transport options, aided by a thematic curated experience.
