Shares of BLS International, a company catering to tours, travel and allied sectors, rose more than 18% to fresh hit 52-week on Tuesday. Shares surged 18.4% in BSE intraday trade to Rs 270 per share on Tuesday amid spurt in volumes.
The spike in this travel-themed stock price comes after Nomura Singapore picked an additional half per cent stake in the company. As per NSE bulk dal data, Nomura Singapore Ltd bought 11 lakh shares of the company at Rs 230 per share.
Earlier, Nomura had also bought 12.5 lakh shares of BLS International at Rs 214 per share in July.
As on August 30, 2022, rising on revenge tourism, the counter has yielded almost 150% return in one year and over 400% in the past one year. The stock has been surging for the past six months on easing of covid 19 restrictions as a huge increase in people wanting to make up for time and experiences lost to the pandemic.
Part of S&P BSE smallcap index, the stock traded on 52-week low value of Rs 90.55 on December 2 last year. The market cap of BLS International rose significantly from a little over Rs 4700 crore on Monday to Rs 5,379.65 crore in BSE intraday trade on Tuesday.
BLS International is the only company in its domain listed in India on the National Stock Exchange (NSE), the Bombay Stock Exchange (BSE), and Metropolitan Stock Exchange of India Ltd.
A global tech-enabled services partner for governments and citizens, BLS International partners with 46 client governments in the provision of outsourced visa and passport, front end and citizen, consular and passport, verification and attestation and E-Visa services. It manages administrative and non-judgmental tasks related to these services for diplomatic missions, enabling them to focus on key aspects of assessment of visa applications.