India's Delhivery rises as Kotak hikes PT on long-term scope for higher profitability

Delhivery

18/12/2023 08:39

** Kotak Institutional Equities upgrades India's Delhivery
 DELH.NS  stock rating to "buy" from "reduce"; raises price
target to 410 rupees from 390 rupees, citing long-term scope for
higher profitability 
    ** Shares of Delhivery rise as much as 1.66% to 364 rupees
apiece
    ** Delhivery's current market price is an attractive entry
point as it assumes 15% volume growth for e-commerce logistics
business over the next decade - Kotak
    ** Trading volume is 2.55 mln shares, 1.3 times the 30-day
avg - LSEG data
    ** The mean rating of 19 analysts tracking DELH is 2.1,
equivalent to "buy" - LSEG data
    ** Including session's gains, DELH shares up 9% in 2023 so
far

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))