Blue Dart Express gains after enhancing stake in Blue Dart Aviation

Blue Dart Express rose 1.28% to Rs 6,060 at 15:13 IST on BSE after the company enhanced its holding in Blue Dart Aviation by acquiring additional stake.

The announcement was made during market hours today, 22 June 2015.

Meanwhile, the BSE Sensex was up 401.32 points, or 1.47%, to 27,717.49

On BSE, so far 1,883 shares were traded in the counter, compared with an average volume of 852 shares in the past one quarter.

The stock hit a high of Rs 6,220 and a low of Rs 5,970 so far during the day. The stock hit a 52-week high of Rs 7,850 on 14 January 2015. The stock hit a 52-week low of Rs 3,700 on 5 August 2014.

The stock had underperformed the market over the past one month till 19 June 2015, falling 10.48% compared with 1.19% fall in the Sensex. The scrip also underperformed the market in past one quarter, sliding 18.21% as against Sensex's 4.05% fall.

The large-cap company has equity capital of Rs 23.73 crore. Face value per share is Rs 10.

Blue Dart Express said that post the approval of the board of directors at its meeting held today, 22 June 2015, the company has enhanced its holding in Blue Dart Aviation from the present 49% to 74%. Consequently, Blue Dart Aviation has become subsidiary of the company with effect from 22 June 2015, Blue Dart Express said.

Blue Dart Express' net profit rose 13.3% to Rs 34.74 crore on 13.5% rise in net sales to Rs 571 crore in Q4 March 2015 over Q4 March 2014.

Blue Dart Express is South Asia's premier courier, and integrated express package distribution company.

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