Nomura picks up stake in smallcap multibagger stock

Global financial services firm Nomura has picked up a stake in BLS International Services which provides consular services related to visas and passports. The multibagger stock has delivered a fabulous return of over 220 per cent in the last year and 451 per cent in the last three years.

Nomura Singapore Ltd bought 12.5 lakh shares of BLS International at Rs 214 per share, NSE bulk deal data showed.

Earlier this month, BLS announced that it has been authorised by the Royal Thai Embassy to provide visa services in Kenya.

The company works with over 46 client governments, including embassies, diplomatic missions and consulates, with an extensive network of more than 27,000 centres and a strength of over 20,000 employees and associates that provide consular, biometrics and citizen services. It has processed over 62 million applications to date globally.

BLS International is the only listed company in this domain, with operations in 66 countries.

The smallcap stock, with a market cap of Rs 4,300 crore, ended up 1.25 per cent at Rs 211 on Monday. It is now hovering near its 52-week high levels. Only one analyst has coverage on the stock with a hold rating and a target price of Rs 185, signalling a downside potential of 13.7 per cent.