Shares of Logistics solution provider Delhivery took center stage in Thursday’s session (December 12) after multinational company Macquarie maintained its previous ‘outperform’ rating on the counter with a target of Rs 460. The set target implies upside of more than 21 percent. .
In the previous session, the stock ended at a record low of Rs 379.35 per share on the BSE.
The brokerage believes that Delhivery is looking to improve its market share gains through price action. Also, it added that the threat of quick commerce (QC) for e-commerce companies is overblown.
Macquarie said that with the increase in the company’s truck loading (PTL) business, the efficiency of the largest transport company in the country will also increase.
The brokerage pointed out that the company’s management clearly explained why and how the company remains the cheapest transportation service provider in the world. In addition, the company considers a significant cash balance of up to $650 million as its strategic direction relative to peers.
So for these reasons, the brokerage believes that the company is well placed to consolidate market share in e-commerce logistics.
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