Share Market Live

NSE

Delhivery Ltd, a leading player in the Rs 15 lakh crore Indian logistics industry, has been included in the FTSE All Cap Index effective from December 16, 2022.

According to IIFL Alternative Research, Delhivery is likely to attract inflows of $8 million due to this inclusion. However, Delhivery scrip may not get included in the benchmark indices, NSE Nifty 50 and BSE Sensex anytime soon, according to market analysts.

The FTSE All-World Index is a market-capitalisation weighted index representing the performance of large and mid-cap companies in developed and emerging markets.

Last month, Brokerage firm Morgan Stanley had upgraded shares of Delhivery to an ‘Overweight’ rating from the earlier rating of ‘Equalweight’. However, the brokerage cut its price target on the stock to Rs 450 from Rs 520 earlier.

Morgan Stanley cited a favourable risk-reward ratio as a rationale behind its upgrade despite the near-term volatility due to lock-up expiry for pre-IPO investors.

In a post-earnings analysts call Delhivery CEO Sahil Barua had said that the logistics firm’s shipment volumes were expected to grow in the range of 18-30 percent in the current financial year.

Delhivery on Thursday announced that it has gone live on the ONDC (Open Network For Digital Commerce) platform.

With the launch of its services, sellers will be able to use the full suite of Delhivery services like a full suite of express parcel movement to over 18,000 pin codes across the country.

Shares of Delhivery are trading 2.7 percent lower at Rs 354.05, comfortably below its IPO price of Rs 487.