Blue Dart hits upper circuit on DHL buyout reports

MUMBAI: Courier and logistics firm Blue Dart Express today skyrocketed by 20 per cent to hit the upper limit on bourses amid reports that its parent DHL Worldwide Express may buyout the company.

Following the report, the stock zoomed by 20 per cent to hit the upper circuit of Rs 1,336.20 on the Bombay Stock Exchange, bucking the sluggish broader market trend.

At the National Stock Exchange, the scrip attracted buyers and shot up by 20 per cent hitting an upper limit of Rs 1,334.95.

Blue Dart Express in 2002 had forged a sales alliance with DHL Worldwide Express.

DHL has 81.03 per cent stake in Blue Dart, the report said.

Meanwhile, the BSE broader gauge Sensex settled the day at 19,591.18, down by 21.02 points.