Delhivery rises over 7% after block deal; Carlyle likely stake seller
Delhivery share price: The base price of the block deal, as per the report, was fixed at Rs 385.50 per share.
)
10:39 AM IST
Shares of Delhivery climbed over 7 per cent on the BSE in early morning trade after 2.5 per cent equity shares worth Rs 1.84 crore changed hands via a block deal. As per Zee Business, Carlyle was expected to sell its entire 1.84 per cent stake through a block deal. The base price of the block deal, as per the report, was fixed at Rs 385.50 per share.
Around 10:00 AM, shares of Delhivery were trading at Rs 389.4 apiece, up 0.15 per cent. The stock touched the intra-day high of Rs 401.95 apiece at the opening. Delhivery scrip recorded a 52-week high on January 27, 2023, on the NSE.
Analyst’s view
According to Market analyst Kunal Saraogi, the stock has a strong chart, and investors should ‘hold’ the stock, keeping the stop loss at Rs 370 apiece. The stock can reach Rs 425 to Rs 430 levels.
Brokerages’ view
JM Financial has increased its earnings before interest, taxes, depreciation, and amortisation (EBITDA) estimates for Delhivery considering the success of the logistics company's cost optimisation measures. The brokerage has also increased partial truckload revenue considering improved service levels.
It has given a ‘hold’ call on Delhivery for a target price of Rs 370 a share.
Axis Capital is bullish on Delhivery and has given a ‘buy’ call on the stock for a target price of Rs 495 apiece, which implies an upside of 27.4 per cent from Thursday’s closing price.
"We see Delhivery as a play on the secular growth of the e-commerce industry and expect competitive intensity among private e-commerce 3PLs to abate over the medium term given the challenging funding environment," the brokerage said in its report.
Delhivery share price: Past performance
So far in 2023, the stock has gained over 17 per cent to the Nifty50’s rise of over 3 per cent.
Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.https://www.zeebiz.com/
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
Akshaya Tritiya 2025: These top gold ETFs with lowest expense ratio turned Rs 10,000 SIP into Rs 27 lakhs in 10 years
)
SBI Lakhpati RD: Want Rs 2,22,222 or Rs 4,44,444 at maturity? Here's how much to invest monthly for 1-year, 3-year and 5-year
)
Top 5 Flexi Cap Mutual Funds with highest returns in 7 years: Rs 3.5 lakh one time investment in No. 1 fund has grown to Rs 12.96 lakh
)
Mazagon Dock, 4 other stocks to buy: Analysts recommend largecap, midcap, smallcap scrips for up to 1 month
)
Home Loan Calculations: Compare SBI, HDFC Bank, ICICI Bank, PNB, HSBC Bank, other banks interest rates for up to Rs 75 lakh loan amount
10:39 AM IST