Blue Dart hits new high; rallies 14% in a week on 10% price hike decision

Blue Dart said high inflation, rising interest rate, and high input costs have all taken a toll on the margins of the business

Shares of Blue Dart Express hit a new high of Rs 9,639.45 as they rallied 7 per cent on the BSE in Tuesday's intra-day trade. The stock of the logistic company surged 14 per cent in one week after the company announced a general price increase with effect from January 1, 2023.

It surpassed its previous high of Rs 9,277, touched on September 7, 2022. In comparison, the S&P BSE Sensex was up 1 per cent in the past week.

Blue Dart Express, on September 28, had announced that the average shipment price increase will be 9.6 per