Shares of logistics company Delhivery surged 6.6% intraday to a 52-week high of ₹491.50 on the BSE, later trading 5.2% higher at ₹484.90. The rally lifted the company’s market capitalization to ₹36,285.4 crore ($3.8 billion). Delhivery’s stock has gained over 20% year-to-date and nearly 7% in the last five trading sessions, reflecting growing investor confidence in its growth prospects, according to inc42.com.
The surge followed upbeat brokerage commentary, with JM Financial reiterating its ‘BUY’ rating and setting a target price of ₹605, implying a 32% upside from the previous close of ₹459.15. JM Financial highlighted Delhivery’s strong positioning in the logistics sector, supported by favorable industry dynamics, limited logistics insourcing by Meesho, and increasing consolidation in third-party logistics. The brokerage noted Delhivery and Shadowfax as the only scaled national logistics networks after Delhivery’s acquisition of Ecom Express, while rival XpressBees faces execution challenges.
Delhivery’s outlook includes an expected revenue growth of approximately 25% year-on-year for fiscal 2027, with adjusted EBITDA projected to nearly triple. The company’s strengthening market position amid consolidation trends in the third-party logistics market underscores its potential to capitalize on expanding demand. This performance places Delhivery ahead of competitors and signals robust operational momentum in India’s logistics sector.
Delhivery’s next financial results announcement will provide further clarity on its growth trajectory, with JM Financial’s target price of ₹605 reflecting confidence in the company’s medium-term prospects. The stock’s recent gains and positive brokerages’ outlook mark a notable phase for the company’s market valuation.