Multibagger IT stock hits record high after Nomura buys stake
Premium- Multibagger IT stock surged over 18 per cent today and hit new life-time high of ₹269.70 on NSE
Multibagger stock: IT service provider company BLS International Services Ltd shares zoomed over 18 per cent in early morning deals on Tuesday after the newsbreak of FII investment in the company. As per the bulk deal information available on the NSE website, global financial services firm Nomura Singapore Ltd has bought stake in the IT company. Nomura has bought 11 lakh shares of the multibagger IT stock paying ₹230 apiece. The deal was executed on 29th August 2022.
BLS International share price today opened upside by a huge gap and went on to hit an intraday high of ₹269.70 apiece in NSE, logging more than 18 per cent intraday gain on Tuesday. BLS International shares are one of the multibagger stocks in 2022 as it has delivered around 180 per cent return to tis shareholders in year-to-date (YTD) time. In last near 6 years, this IT stock has surged from ₹43.602 (close price on 17th June 2016 on NSE) to ₹269.70 apiece levels, delivering more than 500 per cent return in this period.
Earlier, the multibagger IT company had reported strong Q1FY23 earnings. Operational Revenue of the company stood at ₹272.8 crores in Q1 FY23, up by 52.8 per cent from ₹178.5 crores in Q1 FY22. EBITDA stood at ₹31.5 crores in Q1 FY23, up from ₹18.8 crores in Q1 FY22. PBT was at ₹32.4 crores in Q1 FY23 compared to ₹20.8 crores in Q1 FY22. Profit After Tax (PAT) for the quarter stood at ₹30.7 crores compared to ₹20.3 crores in the same period of last financial year. The company also Acquired Zero Mass Pvt. Ltd. (ZMPL). BLS acquired 88.71 per cent stake in ZMPL, making it the largest business correspondent (BC) for SBI across India.
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Currently, market cap of the stock is ₹5,416 crore and its current trade volume on NSE is around 71.47 lakh, which is much higher than is 20 days average trade volume of 13,31,881. Trade volume of the stock is expected to zoom further as it is less than two hours of stock market opening today. This multibagger stock is listed on both NSE and BSE and its 52-week high on NSE is ₹269.70 on NSE whereas it 52-week low is ₹89.73 apiece.
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