The announcement was made after market hours on Monday, 3 September 2012.

Meanwhile, the BSE Sensex was down 55.81 points, or 0.32%, to 17,328.59.

On BSE, 17,998 shares were traded in the counter as against an average daily volume of 654 shares in the past one quarter.

The stock hit a high of Rs 1,775.10 and a low of Rs 1,530.75 so far during the day. The stock had hit a record high of Rs 2,205 on 19 April 2012. The stock had hit a 52-week low of Rs 1,380 on 30 November 2011.

The stock had underperformed the market over the past one month till 3 September 2012, falling 3.71% compared with the Sensex's 1.08% gain. The scrip had also underperformed the market in past one quarter, falling 1.45% as against Sensex's 8.89% rise.

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

Foreign promoter Deutsche Post DHL will bring down its stake in Blue Dart Express, held through its subsidiary DHL Express Singapore, to comply with minimum public shareholding requirements.

The move comes in the wake of Securities and Exchange Board of India (Sebi) directive to have at least 25% of the promoter holding in all listed companies with the public by June 2013. As on 30 June 2012, promoter held 81.03% in Blue Dart Express.

Deutsche Post DHL (DPFHL) said in a statement that there is a strong trust between the DPDHL and Blue Dart Express management teams and the relationship between the two companies will not be affected by the proposed reduction in DPDHL's stake in Blue Dart Express as the primary aim for such reduction is to ensure Blue Dart Express to comply with Indian regulations.

Blue Dart Express net profit rose 19.46% to Rs 40.63 crore on 15.94% rise in net sales to Rs 430.06 crore in Q1 June 2012 over Q1 June 2011.

Blue Dart Express is South Asia's premier express air and integrated transportation and distribution company. It offers delivery of consignments to over 36,637 locations in India. As part of the DP DHL Group, Blue Dart accesses the largest and most comprehensive express and logistics network worldwide, covering over 220 countries and territories and offers an entire spectrum of distribution services including air express, freight forwarding supply chain solutions and customs clearance.