Moneycontrol
Last Updated : Jan 30, 2018 01:40 PM IST | Source: Moneycontrol.com

Buy BLS International, target Rs 315; Spain, Punjab deals to bolster growth: Elara Capital

The firm believes that Spain and Punjab deals are going to bolster company's growth going ahead.

 
 
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Shares of BLS International Services rose 1.3 percent intraday Tuesday as broking house Elara Capital has initiated buy rating on the stock with a target of Rs 315 per share.

Broking house expects that company with its niche expertise is likely to double market share by FY19 from current 4 percent.

The positives includes asset-light model, high FCF yield and low on capex.

The company is in underpenetrated industry. As the outsourcing trend catching on and tourist arrivals outlook remains stable, Spain global visa, Punjab eGovernance contracts are the game-changers.

The firm believes that Spain and Punjab deals are going to bolster company's growth going ahead.

The broking house expect revenue/EBITDA/net profit to grow at a CAGR of 19 percent/42 percent/47 percent over FY17-20.

At 13:27 hrs BLS International Services was quoting at Rs 217 down Rs 6.05, or 2.71 percent on the BSE.

Posted by Rakesh Patil
First Published on Jan 30, 2018 01:38 pm
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