Blue Dart inks pact with Skye Air for drone delivery service; stock up 3%

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Blue Dart stock rises: Shares of Blue Dart rose as much as 2.56 per cent to hit an intraday high of Rs 8,049.95 per share on Thursday, June 20, 2024. 

However, the stock was off highs and trading 0.51 per cent higher at Rs 7,888, at 9:37 AM. In comparison, BSE Sensex was trading 0.08 per cent higher at 77,279.52 levels.

The uptick in share price came after the company rolled out drone delivery service in pact with Skye Air, a drone delivery service provider.

"This move marks a significant advancement towards cleaner and more efficient delivery solutions,” Blue Dart said in a statement.

The company is set to revolutionise last-mile delivery in the e-commerce sector with its innovative approach, offering same-day shipment delivery to considerably reduce delivery times and environmental impact, it added. 

Following its pioneering VLOS trials in Vikarabad, Hyderabad, in September 2021, and BVLOS trials under the Telangana Government's 'Medicine from the Sky' initiative, Blue Dart continues to spearhead the use of drone technology in logistics.

The successful launch of drone delivery operations further cements Blue Dart's position as an industry leader, underscoring its commitment to continuous innovation and exceptional service.

"The logistics sector in India is experiencing an exhilarating phase. The nation's robust economic growth, coupled with the aspirations of its consumers and growth in Tier 2 & Tier 3 cities, has significantly boosted purchasing power. This surge in demand emphasises the need for innovative solutions that drive growth while ensuring efficiency and sustainability. As we witness the marvel of drone technology, we eagerly anticipate extending this service further, with plans to cover additional pin codes in subsequent stages with our partners," said Balfour Manuel, managing director, Blue Dart.

Blue Dart Express Ltd is South Asia's leading provider of express air and integrated transportation and distribution services, serving over 56,000 locations across India. As part of the DHL Group's DHL eCommerce division, Blue Dart leverages the largest global express and logistics network, covering more than 220 countries and territories. The company offers a comprehensive range of services including air express, freight forwarding, supply chain solutions, and customs clearance.

The market capitalisation of Blue Dart is Rs 18,785.29 crore, according to Bombay Stock Exchange (BSE).