Mahindra & Mahindra Financial Services Ltd, Schaeffler India Ltd, Dhanuka Agritech Ltd, New India Assurance Company Ltd are among the other stocks to see a surge in volumes on NSE today, 20 July 2020.

Blue Dart Express Ltd notched up volume of 89466 shares by 14:19 IST on NSE, a 8.12 fold spurt over two-week average daily volume of 11016 shares. The stock rose 0.76% to Rs.1,980.00. Volumes stood at 4906 shares in the last session.

Mahindra & Mahindra Financial Services Ltd registered volume of 1087.86 lakh shares by 14:19 IST on NSE, a 5.35 fold spurt over two-week average daily volume of 203.17 lakh shares. The stock rose 9.50% to Rs.227.65. Volumes stood at 102.48 lakh shares in the last session.

Schaeffler India Ltd registered volume of 41136 shares by 14:19 IST on NSE, a 5.35 fold spurt over two-week average daily volume of 7683 shares. The stock rose 0.80% to Rs.3,675.00. Volumes stood at 5034 shares in the last session.

Dhanuka Agritech Ltd notched up volume of 5.21 lakh shares by 14:19 IST on NSE, a 5.02 fold spurt over two-week average daily volume of 1.04 lakh shares. The stock rose 1.15% to Rs.823.00. Volumes stood at 65545 shares in the last session.

New India Assurance Company Ltd registered volume of 14.92 lakh shares by 14:19 IST on NSE, a 4.71 fold spurt over two-week average daily volume of 3.17 lakh shares. The stock rose 7.62% to Rs.119.35. Volumes stood at 2.07 lakh shares in the last session.

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Blue Dart Express will hold a meeting of the Board of Directors of the Company on 31 July 2020.

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Blue Dart Express announced that the Annual General Meeting (AGM) of the company will be held on 31 July 2020.

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Consolidated net sales declined 7.1% to Rs 726.30 crore in Q4 March 2020 from Rs 781.55 crore in Q4 March 2019. The company reported a pre-tax loss of Rs 31.38 crore in Q4 March 2020 as against a pre-tax profit of Rs 18.40 crore in Q4 March 2019. Tax expense declined 33.7% to Rs 8.64 crore during the period under review. The result was announced after market hours yesterday, 26 May 2020.

On a consolidated basis, the firm reported net loss of Rs 41.86 crore in the year ended March 2020 (FY20) compared with net profit of Rs 89.76 crore in the year ended March 2019 (FY19). Net sales rose 0.02% to Rs 3,175.13 crore in FY20 over FY19. Pre-tax loss stood at Rs 39.12 crore in FY20 from pre-tax profit of Rs 134.14 crore in FY19. Tax expense slumped 75.67% to Rs 12.83 during the year.

The business environment has been challenging during the FY20 with the overall profitability being impacted due to adoption of Ind AS 116 new accounting standard (which led to a higher impact on profit as these are long term leases related to air infrastructure), restructuring exercise undertaken in the quarter ended 31 December 2019 to improve efficiency and lockdown due to global pandemic Covid19.

Commenting on company's performance, Balfour Manuel, Managing Director, Blue Dart Express said, Lockdown due to Covid19 in second fortnight of March impacted our revenues and bottom line. We expect to see our operations coming to near normal soon after the lockdown is lifted.

Blue Dart Express is engaged in the business of integrated air and ground transportation and distribution of time sensitive packages to various destinations, primarily within India.

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