Redemption Buzz Assist Blue Dart Express To Touch 52-Week High
On market talk of a share buyback, Blue Dart Express zoomed 13.70% to Rs 794.75. The share price had beaten a high pressure of Rs 799.90 that is also its 52-week high, and a low of Rs 633 during the day thus far.
The company’s 2.65 lakh shares were traded on Bombay Stock exchange. In the past one quarter, the scrip had an average daily volume of just 6,011 shares on BSE.
The Blue Dart Express scrip had made 54.40% to Rs 699 on 19 June 2007 over the past one month. It appended 60.37% to Rs 699 within the past three months. The scrip had also touched a 52-week low of Rs 405 on 20 June 2006.
Presently, DHL, Blue Dart's parent firm holds more than 81% in the company through DHL Express Singapore, whereas institutional investors jointly hold up 10%. Individual capitalists have a share of less than 5% in the company.
In Q1 March 2007, the company’s net profit turned down 10.44% to Rs 16.30 crore as compared to Rs 18.20 crore in Q1 March 2006. Net sales arose 19.47% to Rs 181.60 crore in Q1 March 2007 (Rs 152 crore).
Blue Dart Express is South Asia’s foremost integrated air express carrier and top logistics-services source. The company has the most copious domesticated network covering up more than 14,000 locations, and service over 220 countries and territories globally via sales coalition with DHL. The company’s services comprise dart apex, dart surfaceline, smart box, airport-to-airport, charters, Interline, domestic priority and international services.