
With a surge in its share price, the company’s market capitalisation jumped to INR 23,787 Cr
The stock later pared some gains to trade nearly 3% higher at INR 319.90 apiece on BSE
This comes after Delhivery reported a fresh 52-week low yesterday
Shares of Delhivery
With a surge in its share price, the company’s market capitalisation jumped to INR 23,787 Cr with almost 4.7 Lakh shares traded hands by 12:25 PM.
At the time of writing, the stock pared some gains to trade nearly 3% higher at INR 319.90 apiece on BSE.
The upward movement in the share price also coincided with recovery in broader market along with benchmark indices Sensex and Nifty 50 witnessing gains.
However, the stock has given a weak performance in short as well as long term.
The company earlier this month allotted 7.71 Lakh equity shares under its various employee stock option (ESOP) schemes.
Last month, Delhivery also made two key appointments in its supply chain and logistics segments. The company roped in Navneet Kumar as the head of supply chain services division and Yubi Surajit Das to lead its logistics platform OS1.
On the financial front, the logistics major posted a consolidated net profit of INR 10.2 Cr in the September quarter of the financial year 2024-25 (Q2 FY25) as against a loss of INR 102.9 Cr in the year-ago quarter.This was the second consecutive profitable quarter for the company, which posted a profit of INR 54.3 Cr in the preceding June quarter.
Among the latest developments, the company inked a partnership with state-backed oil marketing company Hindustan Petroleum Corporation Ltd (HPCL) for pan-India lubricant distribution.