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Delhivery stock tanks another 18%; hits lifetime low


Delhivery shares fell below by another 18% on Friday on the BSE following a weak growth outlook from the logistics firm.

The company’s shares are trading at Rs 386.70 per share, down nearly 18% compared to the previous close on BSE on Thursday. This is a record low for Delhivery’s stock since it was listed on the bourses earlier this year.

In its Q2 FY23 update, the company shared it anticipates moderate growth in shipment volumes through the rest of the financial year.

“While the festive season sale surge in shipment volumes will spill over to the third quarter as well, we anticipate moderate growth in shipment volumes through the rest of the financial year,” the logistics solution provider stated.

Going forward, it plans to be watchful of the market sentiment.

“We have made sufficient capacity investments in FY22 and early FY23 to sustain our current rate of growth and expect new mega-gateway and sorter decisions only by early FY24,” the company stated.

As inflationary pressures and service disruptions due to monsoon ease across the country, the company expects an improvement in volumes, revenue, and service margins going ahead.

Edited by Affirunisa Kankudti



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