How to configure BlueStack AppPlayer to use Proxy settings when connecting to Network?

Bluestacks allows running of Android apps on Windows by emulating the Android OS image.

I recently installed BlueStacks_HD_AppPlayerPro (0.7.0.725) on Windows XP but was not able to download/install any apps because my network requires a proxy. It shows the following error:

I tried using ProxyCaps like freecap, but it did not work for me. How can I configure BlueStacks to use my proxy settings?