Blue Dart plunges as DHL plans to cut stake

MUMBAI: Shares of Blue Dart Express plunged over 12 per cent in early trade on Tuesday after media reports said that Deutsche Post DHL will bring down its stake in Blue Dart Express, held through its subsidiary DHL Express Singapore.

“Deutsche Post DHL currently holds 81 per cent in the Mumbai-based express logistic firm,’ a DHL Express India official said when contacted, but did not reveal when and how will they achieve the objective,” said a PTI report.

At 10:00 am, the Blue Dart Express was at Rs 1,679.90, down 12.36 per cent, on the BSE. It touched a high of Rs 1,775.10 and a low of Rs 1,530.75 in trade today.