Delhivery Shares Slump 6% To Hit Fresh 52-Week Low

Shares of listed logistics company Delhivery fell as low as 6.4% to INR 296.50 apiece, marking its fresh 52-week low on the BSE intraday trading session today (February 10), despite strong third quarter earnings.

The company’s shares are set to end in red for the fourth straight session, if current loss holds. To note, of the last 10 trading sessions, the stock has ended seven sessions below the line.

The stock was last down about 6% at INR 297.45 per share, on the BSE, as of 12:57 PM, while its market capitalisation stood at INR 22,117.78 Cr ($2.52 Bn).

Delhivery’s shares closed at INR 316.75 as of Friday (February 7).

This comes after the logistics company’s consolidated net profit zoomed 114% to INR 24.98 Cr in Q3 FY25 from INR 11.70 Cr, a year ago, while its revenue from contracts with customers rose over 8% to INR 2,378.29 Cr during the quarter under review from INR 2,194.46 Cr in Q3 FY24.

As per NDTV Profit report, brokerages have cut their price targets (PT) on the stock taking a bearish stance despite strong results.

For instance, Goldman Sachs maintained a ‘neutral’ rating on Delhivery, but lowered its target price to INR 370 from INR 400, and Emkay also maintained a ‘buy’ rating on Delhivery, but reduced its PT to INR 425 from INR 475.

Meanwhile, Morgan Stanley downgraded to ‘equal-weight’ from ‘overweight’ and reduced PT to INR 320 from INR 450, as per report.

Furthermore, Delhivery revamped its leadership roles with the addition of former Airtel executive Vani Venkatesh as its chief business officer (CBO), who is set to join the company from February 28.

Following that, the logistics major also appointed Namita Thapar, executive director of Emcure Pharmaceuticals, and Sameer Mehta, cofounder and CEO of boAt, as non-executive independent directors on its board, effective February 17.

The logistics giant’s shares last hit its 52-week low figure of INR 306.50 on January 28.

Delhivery’s stock has lost nearly 33% in the past 12 months.