Shares of
Blue Dart Express Ltd., India's top courier service, rose to 2-month highs as the company reported a strong set on earnings thanks to lower fuel costs, in particular.
Blue Dart, majority controlled by US company
DHL, said its first quarter profit surged 35 percent to 46 crore rupees from 34 crore rupees in the year ago quarter. Sales for April-to-June rose 18 percent to 619 crore rupees from 526 crore rupees in the year ago period.
As a consequence, Blue Dart rose 5.7 percent, or 370 rupees, to 6,900 rupees, its highest level since May 22nd, on the
National Stock Exchange, where 11,200 shares changed hands in the first 40 minutes of trade compared with a 5-day average of 3,830 shares.
The market capitalisation of Blue Dart has surged 78 percent in one year to 15,500 crore rupees as investors sought the safety of a multinational brand with low floating stock.
(Image credits: Indiatimes)
