Blue Dart rises over 2.5%

Blue Dart Express is in the limelight today, rising over 2.5% to Rs.8930.20 though volumes are muted; Its 52-week high is at Rs.9277.

The company announced a price hike for its services, starting 1st Jan’23. The average shipment price will increase 9.6% from 2022, depending on the shipping profile.

The company said that high inflation, rising interest rates, high input costs have all taken a toll on the margin. Modest GDP growth and slow pace of recovery owing to global supply chain bottlenecks necessitate a marginal price increase.