Blue Dart: Steaming ahead

STOCKS IN THE NEWS

The stock zoomed to a new 52-week high of Rs 856.55 last week before settling at Rs 755.65 on Friday on the Bombay Stock Exchange. The stock rose 27.3 per cent over the last weekend price of Rs 593.79 on strong buyback buzz. The trading was brisk with the weekly volumes rising from 21.03 lakh to 24.83 lakh shares.

Blue Dart's parent firm DHL currently holds a little over 81 per cent in the company through DHL Express Singapore, while institutional investors collectively hold 10 per cent. Individual investors have a stake of less than 5 per cent in the firm.

Blue Dart's net profit declined 10.44 per cent to Rs 16.30 crore in Q1 March 2007 against Rs 18.20 crore in Q1 March 2006. The company's net sales rose 19.47 per cent to Rs 181.60 crore in Q1 March 2007 (Rs 152 crore). Blue Dart Express is South Asia's leading integrated air express carrier and premium logistics services provider.

The company has the most extensive domestic network covering over 14,000 locations, and services more than 220 countries and territories worldwide through a sales alliance with DHL, the global brand name in express distribution services.