Advertisement

HindustanTimes Sun,20 Apr 2014

Blue Dart shares tank

HT Correspondent, Hindustan Times  Mumbai, November 23, 2012
First Published: 21:37 IST(23/11/2012) | Last Updated: 21:38 IST(23/11/2012)

Shares of logistics service provider Blue Dart Express slumped more than 10% intraday on Friday after its promoter, DHL Express (Singapore), fixed a discounted price of Rs.1,720 per share, 16% below Thursday's closing price of Rs. 2,056.6.

Advertisement

The share hit Rs.1,840.0 in morning trade before clawing back to close at Rs. 1,993.15, an overall fall of 3.09% or Rs. 63.45.

DHL Express holds 81.03% stake in Blue Dart Express, which it has to prune to a maximum of 75% by next June to comply with a SEBI directive on promoter holdings in private listed companies.

Advertisement
more from Business

700 trainees opt for exit plan at Nokia’s Chennai plant

Finnish handset maker Nokia, struggling to shepherd its Chennai plant into its agreement to be bought by US software giant Microsoft amid tax disputes in India, has got some success with 736 of its trainees accepting the voluntary separation scheme.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved