India's Delhivery rises nearly 2% after Bernstein sees recovery in earnings

Delhivery

18/04/2023 07:57

** Shares of Delhivery  DELH.NS  up 1.96%, most intraday
gain in a week, to 329.55 rupees
    ** Rise after Bernstein initiates coverage with a "market
perform" recommendation
    ** Target price set at 360 rupees, 11% implied upside from
the last close of 323.20 rupees
    ** DELH to see earnings recovery after recent steps to
improve its financials, says Bernstein; adds that the long queue
of private equity investors' exits will, however, cap gains
    ** DELH, which went public at 536.35 rupees per share on May
24, 2022, has fallen 39% so far in nearly a year since its debut
    ** Of the 18 analysts tracking DELH, 12 maintain "buy", one
recommends "sell" and five suggest "hold"; median TP is 405
rupees 




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