India's Delhivery rises on deal to buy rival Ecom Express

Delhivery

07/04/2025 08:17

April 7 (Reuters) - ** Shares of courier and logistics services provider Delhivery DELH.NS rise 0.5% to 260.52 rupees

** Delhivery to buy IPO-bound rival Ecom Express for 14 billion rupees ($163.3 million)

** Emkay Global does not expect the deal to be add to profit in near term but believes gains will accrue over 12-18 months

** Avg rating of 20 analysts on DELH is "buy"; median PT is 393.50 rupees, per data compiled by LSEG

** Stock down 24.6% YTD up to last close

 ($1 = 85.7570 Indian rupees)

 (Reporting by Shivani Tanna in Bengaluru)

 ((ShivaniJayesh.Tanna@thomsonreuters.com;))