Blue Dart Express gains as board to discuss enhancing stake in Blue Dart Aviation

Blue Dart Express rose 1.81% to Rs 6,021.60 at 11:03 IST on BSE after the company said its board will meet on 22 June 2015 for noting FIPB's approval for enhancing the firm's stake in Blue Dart Aviation.

Meanwhile, the BSE Sensex was up 204.81 points, or 0.76%, to 27,320.64.

On BSE, so far 619 shares were traded in the counter, compared with an average volume of 643 shares in the past two weeks.

The stock hit a high of Rs 6,080 and a low of Rs 5,901.20 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.

Blue Dart Express said that a meeting of the board of directors of the company will be held on 22 June 2015 for noting of approval received from Foreign Investment Promotion Board (FIPB), Ministry of Finance, New Delhi in respect of enhancing stake of Blue Dart Express into Blue Dart Aviation from the present 49% to 74% and initiating steps in connection therewith. The announcement was made at fag end of the day's trading session yesterday, 18 June 2015.

Net profit of Blue Dart Express rose 13.34% to Rs 34.74 crore on 13.54% rise in net sales to Rs 571 crore in the quarter ended March 2015 over the quarter ended March 2014.

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

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