Delhivery gains on large volumes

Delhivery rose 1.48% to Rs 349.25 amid heavy volumes.

On the BSE, over 280.88 lakh shares of the company were traded in counter as against an average trading volume of 1.07 lakh shares in the past three months.

On the NSE, over 12.10 lakh shares of the company changed hands at the counter as against an average trading volume of 20.40 lakh shares in the past three months.

As per media reports, Soft Bank was planning to sell shares worth Rs 600 crore in the company via block deals, today. Citi Bank has been appointed as the broker to the deal.

Earlier, the reports suggested that SoftBank might offload 3.4% to 3.8% stake in the company through a block deal at a discount to the current market price.

As of December 2022, the Japanese tech company held 18.42% stake in the company.

Delhivery is India's largest and fastest growing fully integrated logistics services provider. With its nationwide network covering over 18,500 pin codes, the company provides a full suite of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services.

The logistics solution provider's consolidated net loss widened to Rs 195.65 crore in Q3 FY23 as against a net loss of Rs 126.52 crore recorded in Q3 FY22.

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