Blue Dart trades in red, partners with India Post for digital locker service

Shares of Blue Dart slipped into the red after gaining over 1 percent intraday on November 20. The logistics company has partnered with India Post to offer customers digital parcel lockers at select post offices.

Recipients can retrieve Blue Dart shipments from digital parcel lockers by using an assigned code to open the locker at various post offices. The deliveries can be collected at any time, and only authorised personnel can access the packages. Blue Dart has teamed up with Podrones, a last-mile technology and parcel locker company, to power this initiative.

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As of 1.04pm, shares of the company were trading flat, at Rs 6,856 on the NSE, lower by 0.08 percent compared to the closing price of the previous session.

“Blue Dart has maintained a long-standing strategic business relationship with India Post. This initiative demonstrates our commitment to revolutionise hyper-connected city logistics, enhancing last-mile delivery efficiency while ensuring a reliable and secure experience for our customers in an increasingly digital and on-demand world,” said Balfour Manuel, managing director of Blue Dart.

Over the past six months, Blue Dart Express’ stock price has risen 12.5 percent, while the broad benchmark index Nifty 50 has gained 7.58 percent. The company has a market-capitalisation of Rs 16.282.9 crore. The counter sees very low volatility, as indicated by the one-year beta of 0.49. The PE ratio is at 55.7.

Promoter DHL Express (Singapore) maintained a consistent holding of 75 percent, while FIIs and DIIs held 4.7 percent and 11.8 percent as of the quarter ended September. The public held 8.5 percent, of which Bright Star Investments, the flagship investment vehicle of Radhakishan Damani, held 1.29 percent.

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