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BLS International plunges ~13% after government bans new tenders
BLS International tumbles after being disqualified from new government tenders.
Shares of BLS International dropped nearly 13% after the Indian Ministry of External Affairs barred the firm from bidding for new government tenders for two years. The move comes amid compliance concerns and regulatory scrutiny. Market participants see this as a stiff blow to BLS’s growth prospects, given its dependence on public contracts. Investors will monitor legal appeals and revenue impact in coming quarters.