Delhivery Shares Rally 7% Intraday

Shares of logistics major Delhivery jumped 7.6% to INR 282.85 apiece during the intraday trading session on the BSE today.

The stock was up INR 281.10 per share on the BSE, as of 02:45 PM, reflecting a gain of almost 7% from its last close of INR 262.80 apiece.

The company’s market capitalisation currently stands at INR 20,928.47 Cr ($2.44 Bn).

Delhivery informed stock exchanges on April 5, that it will acquire 99.4% stake in Ecom Express for INR 1,407 Cr ($165 Mn), which sums to about 80% valuation slash from the latter’s last valuation of INR 7,300 Cr ($850 Mn).

The stock is also set for its best day since mid-February, and if the stock maintains its gains until the close, it will mark the fourth consecutive session of uptick.

The gains for the day comes on the heart of the broader market indices revival since the start of the week, resulting from the pause on reciprocal tariffs for all countries, except China, for a period of 90 days has been welcomed warmly by the global equities market.

As of 2:30 PM, BSE Sensex was up almost 1.9% at 78,473.31, while Nifty 50 rose over 1.7% at 23,838.90.

Of the new age tech stocks under Inc42’s coverage, shares of Eternal, Swiggy, Honasa Consumer, CarTrade and Ixigo, were on the gaining run for the day, while there were a few startups that has been up marginally, including Fino Payments, MapmyIndia, Ola Electric, PB Fintech and Tracxn, among others.

While the stock has lost 41.68% in the past 52-week period, it has declined 24% since the start of this year.

Delhivery’s consolidated net profit zoomed 114% to INR 24.98 Cr in the third quarter of the fiscal year 2024-25 from INR 11.70 Cr in Q3 FY24. Revenue from contracts with customers rose over 8% to INR 2,378.29 Cr during Q3 FY25, from INR 2,194.46 Cr in the year-ago quarter. 

To note, despite its profitable third quarter financial performance, the company’s stock was set on a declining phase for six straight sessions in February.