Can BLS E-Services Ltd change the trend?Hello, Everyone. I hope everyone is doing well in their lives and in their investments. Here I have brought a stock that looks at the bottom, and it may turn. BLS E-Services Ltd is the name of the stock. Pan card 2.0 may help this stock. CMP 223. Strong support at 200 can also help as a stop loss. The stock was going down, but the diversion was showing an upside. So strong chances of bottoming out and trend change are possible. Upside targets as per Fibonacci: 280, 310, 340, 375. It's just an assumption. Please do your research. Not a suggestion of buying. Still, Monthly RSI 14 is not showing, but RSI 8 and 9 are oversold at 13 and 14. So chances of a pullback are possible. The all-time high is at 423 and already 50% down. An all-time low is at 197; if it breaks and closes below that, then chances of another fall to 165 are high. (-61% from all-time high).
BLS E-Services share price has been trading roughly 30% less than its listing price of ₹366. The BLS E-Services share price made an impressive start on February 6, 2024 where it opened at ₹305 on the NSE, 125.93% more than the ₹135 issue price. BLS shares debuted at ₹309 apiece on BSE, which was 128.89% more than the issue price. Since March 5, the price of the stock has been below its listing price.
The three days of the BLS E-Services IPO saw a resounding reaction from non-institutional and retail investors alike. According to NSE data, the subscription status for the BLS E-Services IPO on day three was 162.48 times.
BLS E-Services - Road Ahead
As part of its inorganic expansion plan, the business is reportedly mulling an acquisition for the current fiscal year (FY25), according to a PTI news report.
The firm, according to a PTI news report, has 21,000 banking correspondent centres around the nation and has partnerships with 15 banks, including State Bank of India, Bank of Baroda, and HDFC Bank.
Chairman of BLS E-Services Ltd. Shikhar Aggarwal told PTI that they are currently negotiating with two to three companies. There is ongoing due diligence. To promote inorganic growth, the company intend to make acquisitions during the current fiscal year. (Source: livemint)
Source: Screener.in
BLS E-Services Ltd
About
Incorporated in 2016, BLS-E Services
Ltd provides Digital Services including
E-Governance, Business Correspondent
and allied services
Key Points
Business Overview:
a) BLSe is a subsidiary of BLS International Services Ltd.
b) Company provides digital and physical products and services in the G2C, B2C, B2B categories in semi-urban, rural and remote areas
c) In FY24, company has ~1.21+ Lac Touchpoints, BLS stores ~1,000+, Business Correspondents ~29,700+, Bank Tie-ups (for Business Corspndt.) ~16, and ~130+Million Transactions
Digital Service Offerings:
a) Business Correspondence:
Company works as Business Correspondents for Banks to increase accessibility of services to the citizens. It has a PAN-India presence for banks like SBI, HDFC, BoB, Axis Bank, UGB, UBI, CBI, PNB, Kotak, Indian Bank, IOB, Karur Vysya Bank, Utkal Grameen Bank, etc.
b) Business to Business to Customers:
In B2B2C model, company uses 3rd party businesses as partners & touch-points to provide services related to PAN Card, IRCTC Tickets, Bill Payments, Tele-Medical Consultancy, Insurance & Corporate Banking Services, AEPS, e-Learning /BLS Edutech, etc.
c) E-Governance - Government to Customers:
BLS owned kiosks such as BLS Sewa facilitates Government services to citizens in UP CSC, W. Bengal, Aadhar FCS (Punjab) and Aadhar QC. This involves services floated either via State Government, Central Government, or District Jurisdictions
d) Digital Stores:
These would be Touch-points working as a fully-branded BLS Centres to offer B2B2C services along with additional services & product offerings including PAN Card, IRCTC Tickets, MATM, Money Transfer, ecommerce, etc.
Revenue Breakup - FY24:
Sale of Services ~97%, Sale of Products ~3%
Acquisition:
On November 4th 2024, company approved amendment in Share Subscription and Purchase Agreement for acquisition of equity shares of Aadifidelis Solutions Private Limited and its Affiliates
Listing & IPO:
Company raised over Rs.300 Crore through an IPO and was listed on BSE & NSE exchanges on February 6, 2024.
Future Outlook:
Company intends to become the Go to Market Platform for various business verticals including fintech and digital platforms. The assisted digital
convenience stores (BLS Touchpoints) act as the “One-stop solution” for availing various products & services on the digital platform called BLS Sewa app.
BLS E-Services Completes Acquisition of 57% Stake in Aadifidelis Solutions for Rs 123 Crore. (Source: goodreturns)
This is just to boost my confidence. No Suggestions for buying.
Disclosure: I am not SEBI registered. The information provided here is for educational purposes only. I will not be responsible for any of your profit/loss with these suggestions. Consult your financial advisor before making any decisions.
