Cheap Website Traffic

Delhivery enters top 100 most-valued firms’ club; m-cap tops Rs 50,000 cr

Delhivery enters top 100 most-valued firms’ club; m-cap tops Rs 50,000 cr


Logistics services provider, Delhivery’s, market capitalisation (market-cap) crossed Rs 50,000 crore-mark on Thursday as the stock hit a new high of Rs 707.65, up 5 per cent on the BSE in the intra-day trade. With this, the company has joined the most-valued listed firms’ club.

At 01:58 PM, Delhivery commanded a market-cap of Rs 50,382 crore, and ranked 45th in the overall m-cap ranking list, BSE data shows. In the past five weeks, the stock has zoomed 44 per cent as compared an 8-per cent rise in the S&P BSE Sensex. The stock was trading at its highest level since itt listed on May 24, 2022. At current levels, Delhivery is 45 per cent higher over its issue price of Rs 487 per share.

Delhivery is India’s largest and the fastest growing fully-integrated logistics services player by revenue as of FY22. It provides supply-chain solutions to a diverse base of 23,613 active customers such as e-commerce marketplaces, direct-to-consumer etailers and enterprises and various SMEs.

The company’s strong balance sheet, with cash and investments of Rs 2,512 crore as on March 31, 2022, was further augmented by Rs 3,846 crore of net proceeds from the IPO in May 2022.

The majority of the investments made by the Company in FY22 were towards capacity and capability building in the form of capex (around 7 per cent of revenues in FY22) and inorganic growth, in addition to investments in working capital requirements. These investments are expected to drive scale and enhance efficiency – reducing the cost of delivery and decreasing the time for delivery.

Meanwhile, on June 22, 2022, Delhivery had said it plans to expand its infrastructure in the two key cities of Bhiwandi (Greater Mumbai) and Bengaluru. Delhivery is collaborating with Welspun on a 700,000 sq ft mega-gateway in Greater Mumbai and with GMR for a one million-plus sq ft facility in Bengaluru, which will also include a warehouse for multi-channel order fulfillment for Delhivery’s customers.

These fully-automated large integrated trucking terminals will be operational by 2023 and will increase Delhivery’s processing capacity to meet the customer demand from the South and West.

Delhivery enters top 100 most-valued firms’ club; m-cap tops Rs 50,000 cr Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor


Source link

Cheap Website Traffic