Blue Dart Express Shares Zoom 10% At Market Open — Here's Why
The shares of Blue Dart Express Ltd. have surged in trade on Tuesday, reaching an intraday high of Rs 6,156 versus Monday's close of Rs 5,578. This comes on the back of the company's decision to hike courier services from January.
Blue Dart Express shares are currently trading at Rs 6,145, which accounts for gains of more than 10% compared to Monday's closing price.
Blue Dart Express' decision to hike courier prices came on the back of rising airline costs, inflation and global supply chain complexities. As such, the company hiked courier services by 9-12%, which will be effective from January 1.
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The courier service company argued that the price hikes were necessary in order to maintain focus on speed, reliability and customer service.
In order to soften the impact of the price hike, Blue Dart did confirm that customers who book the services between October 1 and December 31 will be exempted.
“The General Price Increase enables us to continue investing in advanced technology, greener logistics, and network expansion,” said Balfour Manuel, Managing Director, Blue Dart Express.
“We will exempt all customers onboarded between October and December 2025, hereby reaffirming our promise to support businesses in scaling seamlessly with us, even amidst global challenges," he added.
The shares of Blue Dart Express has fallen more than 26% in the last 12 months and 13% year-to-date. It currently trades with a relative strength index of 30.81, which suggests the stock could be in an oversold territory.
Out of seven analysts tracking the company, six maintain a 'buy' rating while one recommends 'sell'. The average 12-month consensus price target implies an upside of 13%.
