Delhivery’s stock rose by over 2% after Equirus initiated a ‘Long’ rating with a target price of ₹459.
The brokerage forecasts strong growth for the logistics leader, predicting a 14% revenue CAGR over FY24-27, driven by better margins in its B2B Part-Truckload (PTL) segment and operating leverage. Equirus expects EBITDA margins to expand to 8.6% by FY27, reflecting operational efficiencies.
Delhivery’s market share gains from traditional B2B players and its shift towards profitability are expected to support premium valuations. Currently, the stock trades at high P/E ratios, but Equirus believes this is justified due to Delhivery’s rapid expansion and market leadership in India’s logistics sector.
Delhivery shares opened at ₹396.05, reaching a high of ₹402.85 and a low of ₹393.30 today. The stock is currently trading below its 52-week high of ₹488.00 and above its 52-week low of ₹325.50.
As of 10:05 am, Delhivery shares were trading 1.90% higher at Rs 400.50 on the NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
