DHL Express to reduce stake in Blue Dart Express to meet norms

DHL Express to reduce stake in Blue Dart Express to meet normsDHL Express is planning to reduce its stake in Blue Dart Express in order to become complaint with the free float guidelines set by India's capital market regulator.

The Securities and Exchange Board of India (Sebi) mandates a minimum public shareholding of 25 per cent and thus DHL Express will have to sell stake to bring its stake down. DHL Express currently holds about 81 per cent stake in Blue Dart Express.

DHL to set up logistics facility near Chennai

DHL to set up logistics facility near ChennaiGlobal logistics market leader, DHL has announced that it is going to set up a logistics and warehousing facility at Sriperambadur near Chennai. It has also said that it will invest $10 million at this upcoming free trade warehousing zone (FTWZ) in an initial basis. Hence the company will become the first global logistics company to come up with a facility within a notified FTWZ.

DHL Introduces India-Dubai Service

DHL Introduces India-Dubai ServiceLeading logistics company DHL has introduced India-Dubai Service by launching its weekly direct LCL (Less than Container Load) consol service for connecting Nhava Sheva to Dubai.

The move is aimed for further strengthening and expanding supply-chain on the India-Middle East trade lane besides pushing its ocean freight business supported by a broad product portfolio.

The services would be provided through DHL's local arm DHL Lemuir Logistics, a joint venture between DHL Global Forwarding and Mumbai-based Lemuir Group established in 2003.

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