Hot Pursuit     20-Jun-07
Blue Dart Express darts to 52-week high on buyback buzz
Blue Dart Express had soared 13.70% to Rs 794.75 at 13:03 IST on market talk of a share buyback.

The scrip had hit a high of Rs 799.90, which is also its 52-week high, and a low of Rs 633 during the day so far.

On BSE, 2.65 lakh shares were traded. The scrip had an average daily volume of just 6,011 shares on BSE in the past one quarter.

The Blue Dart Express scrip had gained 54.40% to Rs 699 on 19 June 2007 over the past one month. It added 60.37% to Rs 699 over the past three months.

The scrip had touched a 52-week low of Rs 405 on 20 June 2006.

Blue Dart's parent firm DHL currently holds a little over 81% in the company through DHL Express Singapore, while institutional investors collectively hold 10%. Individual investors have a stake of less than 5% in the firm.

Blue Dart Express’ net profit declined 10.44% to Rs 16.30 crore in Q1 March 2007 as against Rs 18.20 crore in Q1 March 2006. Net sales rose 19.47% to Rs 181.60 crore in Q1 March 2007 (Rs 152 crore).

Blue Dart Express is South Asia's leading integrated air express carrier and premium logistics-services provider. The company has the most extensive domestic network covering over 14,000 locations, and service more than 220 countries and territories worldwide through sales alliance with DHL, the global brand name in express distribution services.

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