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BLS International Services slips after Punjab government terminates MSA

31 Jan 2018 Evaluate

BLS International Services is currently trading at Rs. 203.65, down by 7.35 points or 3.48% from its previous closing of Rs. 211.00 on the BSE.

The scrip opened at Rs. 213.00 and has touched a high and low of Rs. 213.00 and Rs. 200.50 respectively. So far 16,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 293.00 on 10-Jan-2018 and a 52 week low of Rs. 119.15 on 17-Apr-2017.

Last one week high and low of the scrip stood at Rs. 239.60 and Rs. 200.50 respectively. The current market cap of the company is Rs. 2,086.91 crore.

The promoters holding in the company stood at 74.24%, while Institutions and Non-Institutions held 5.34% and 20.42% respectively.

BLS International Services has received notices from the Government of Punjab regarding the termination of the Master Services Agreement (MSA). The agreement was terminated by Government of Punjab in view of their precarious financial position and their inability to pay dues as per their commitment. No deficiency in service on company’s part has been reported for termination of the contract.

The company is engaged with the Government of Punjab regarding the process of closure of the contract, and the payment of dues over a period of next 6 months. The company is also in discussion with the Government to see the possibility of continuing the contract at a reduced scale.

In addition, the company is looking at an alternative delivery mechanism for various non Government services to the citizens of Punjab, and other States, to continue along its growth path.

BLS International Services provides outsourcing and technology services for governments and their diplomatic missions worldwide.


BLS Internatl.Serv Share Price

275.20 -7.95 (-2.81%)
24-Apr-2026 15:40 View Price Chart
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