Share price of this micro-cap stock engaged in logistics services moved up by 4.4 percent on BSE to Rs. 468.6 in the morning trading session of Thursday, following a block deal worth Rs. 908.5 from multiple foreign investors.
With a market capitalisation of Rs. 33,164.7 crore, at 12:20 p.m., the shares of Delhivery Limited were trading in the green at Rs. 461.45, up by 2.85 percent.
According to the block deal data available on the NSE, US-based financial services company Capital Group and Fidelity Investments are among the major buyers of Delhivery shares.
Capital Group through two different funds bought a total of 1.59 crore of equity shares or a 2.16 percent stake in the company, valued at Rs. 707.7 crore.
Further, Fidelity purchased 37.5 lakh of equity shares or 0.48 percent stake in the company via multiple funds for Rs. 166.6 crore and HSBC bought 7.7 lakh shares or 0.09 percent stake totalling Rs. 34.2 crore.
However, foreign investor Canada Pension Plan Investment Board sold nearly 2.04 crore equity shares, representing 2.78 percent of paid-up equity in Delhivery for Rs. 908.5 crore, at an average price of Rs. 444.3.
As of March 2024, Canada Pension Plan held 4.38 crore of equity shares, equivalent to a 5.96 percent stake, in the logistics company.
In terms of financials, the revenue from operations grew by around 20.3 percent from Rs. 1,824 crore in Q3 FY22-23 to Rs. 2,194 crore in Q3 FY23-24, accompanied by an increase in the net profit by 106.12 percent to Rs. 12 crore in Q3 FY23-24 from a loss of Rs. 159 crore in Q3 FY22-23.
As of March 2024, FIIs hold 63.63 percent of the shares, whereas DIIs hold 19.62 percent of the shares in the company, aggregating to 83.25 percent of the institutional holdings
The company has delivered positive returns of about 10.04 percent in the last six months, whereas nearly 27.6 percent in the last one year. So far in 2024, it has given around 20.6 percent of positive returns.
Delhivery Limited is the largest fully integrated logistics provider in India and is engaged in offering services such as delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software.
Written by Shivani Singh
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