Shares of BLS International fell over 3 percent on Thursday after the company issued an official statement to the exchanges that it has suspended Indian visa services in Canada till further notice.
It has attributed the suspension of services to "operational reasons."
However, the company has said that the suspension of services would have a negligible impact on financials. For financial year 2023, the Canadian visa issuance business contributed to less than 2 percent of the annual revenue.
At 11:40 a.m. on Thursday, September 21, BLS International had posted this message on its website: "Due to operational reasons, with effect from 21 September 2023, Indian visa services have been suspended till further notice." While no formal announcement had been made on the matter, an Indian official confirmed the suspension to Hindustan Times.
However, soon after, at 12:37 p.m., the ticker message was removed from their website and no longer visible.
BLS reinstated the message at 1:12 p.m. and blamed the back-and-forth on a "technical glitch."
The Ministry of External Affairs will hold its weekly press conference today (Thursday, September 21) at 4 p.m. The MEA told CNBC-TV18 that it will answer questions and issue clarification on the ongoing confusion about Indian visa services in Canada being suspended. To read more on the issue, check here.
Diplomatic relations between India and Canada have hit a new low this week over the killing of Khalistani terrorist Hardeep Singh Nijjar.
Shares of BLS International Services are trading 2.7 percent lower at Rs 262.75.
First Published: Sept 21, 2023 2:59 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Rajasthan Exit Poll 2024: BJP to win 18-23 seats in Lok Sabha Election, suggests News18 poll
Jun 1, 2024 7:45 PM
West Bengal exit poll 2024: NDA seems to have cracked the code, News18 Poll Hub early predictions show
Jun 1, 2024 7:42 PM