India's Delhivery slips as Kotak flags challenging near term

Delhivery

15/10/2024 10:08

** Shares of courier and logistics services provider
Delhivery  DELH.NS  fall 2% to 411 rupees
    ** Kotak Institutional Equities cuts PT to 500 rupees from
560 rupees; maintains "buy" rating on stock
    ** Sees difficult zone for DELH, due to uncertain demand,
pricing pressure from third-party peers
    ** Says DELH's express parcel may lack strength in FY25
    ** Avg rating of 21 analysts on DELH is "buy"; median PT is
500 rupees -LSEG data
    ** Stock has gained 5% so far this year

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))