Buy Blue Dart Express, target price Rs 6975: ICICI Direct

ICICI Direct has buy call on Blue Dart Express with a target price of Rs 6975. The current market price of Blue Dart Express Ltd. is Rs 6139.2. Time period given by analyst is 3 months when Blue Dart Express Ltd. price can reach defined target.

Blue Dart Express Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 14509.63 Crore) operating in Logistics sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 975.64 Crore, down -6.43 % from last quarter Total Income of Rs 1042.70 Crore and up 34.11 % from last year same quarter Total Income of Rs 727.49 Crore. Company reported net profit after tax of Rs 90.00 Crore in latest quarter.

Investment Rationale
The stock has managed to hold above upward sloping support trend line, highlighting elevated buying demand that signifies inherent strength


Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of June 30, 2020, while FIIs held 2.4 per cent, DIIs 11.1 per cent and public and others 11.5 per cent.

(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)