India's Delhivery gains on Investec's upbeat growth outlook

Investec

09/04/2026 06:46

** Shares of logistics services provider Delhivery DELH.NS rise 2.4% to 471.05 rupees

** Investec says DELH's growth momentum is set to improve further, expecting ~60% Y/Y EBITDA growth in FY26, driven by volume recovery, market share gains and operating leverage

** Says volumes should stay healthy despite a high Q4 base, aided by Meesho-led MEES.NS growth, pricing discipline and industry consolidation

** Profitability seen remaining robust even as scale increases, with cost control supporting margins - Investec

** Brokerage initiates a "fast long" call on stock with PT of 515 rupees

** Avg rating of 23 analysts on DELH at "buy"; median PT is 525 rupees - LSEG compiled data

** YTD, DELH up 16.7%

(Reporting by Kashish Tandon in Bengaluru)

((Kashish.tandon@thomsonreuters.com))