Delhivery shares rebound after worst day in a month

Delhivery Share Price BSE, NSE: Delhivery shares gained on Thursday, recouping some of the losses in the previous session which saw their worst single-day fall since January 24, 2023.

Delhivery Share Price BSE, NSE: The stock of Gurugram-based logistics company Delhivery rose by as much as Rs 7.5 or 2.2 per cent to Rs 343.9 apiece on BSE. Pic: IANS

Delhivery Share Price BSE, NSE: Delhivery shares gained on Thursday, recouping some of the losses in the previous session which saw their worst single-day fall since January 24, 2023. The stock of Gurugram-based logistics company Delhivery rose by as much as Rs 7.5 or 2.2 per cent to Rs 343.9 apiece on BSE.

On Wednesday, Delhivery shares had weakened by Rs 12.6 or 3.6 per cent to settle at Rs 336.4 apiece on the bourse.

Delhivery share price: Latest news

On Wednesday, venture capital firm Internet Fund III Pte — through which Tiger Global held a stake of 4.68 per cent at the end of December 2022 —offloaded about 123.6 lakh Delhivery shares worth Rs 414 crore in the open market, according to bulk deal data.

The shares were sold at an average price of Rs Rs 335.1, a discount of four per cent to their closing price the previous day, the data showed.

Delhivery Share Price Target 2023- What brokerages recommend on Delhivery shares

Brokerage Credit Suisse maintained an 'outperform' rating on Delhivery with a target price of Rs 500, implying upside potential of 48.6 per cent over Wednesday's price.

The brokerage believes Delhivery shares may be close to an inflection point on multiple dimensions, with the sector's long-term growth prospects being intact.Macquarie has an 'outperform' call on Delhivery with a target price of Rs 440.

A recap of Delhivery IPO and market debut

Delhivery shares debuted in the secondary market at a premium of 1.7 per cent to the issue price in May 2022. The stock has since gyrated in a range of more than Rs 400, between Rs 291 and 708.5 apiece.