Delhivery block deal today; Rajesh Exports, Shoppers Stop zoom up to 18%

Delhivery shares gained 2.8 per cent in the intraday trade to hit a high of Rs 403,65. The spike in Delhivery shares was registered after 23.4 million shares changed hands on the NSE and BSE

Rajesh Exports, Delhivery, Shoppers Stop large trade: Shares of Delhivery, Rajesh Exports, and Shoppers Stop were buzzing in trade on Wednesday, July 10, amid heavy volumes. Shares of these companies rallied up to xxx per cent in trade on the BSE today. By comparison, the benchmark Sensex index was down 694 points, or 0.84 per cent, at 79,657 level at 2:20 PM.

Delhivery shares gained 2.8 per cent in the intraday trade to hit a high of Rs 403,65. Delhivery shares has closed at Rs 392,35 per share on Tuesday. The spike in Delhivery shares was registered after 23.4 million shares changed hands on the NSE and BSE in the block deal window.

Executed at Rs 388.45 per share, Delhivery block deal was worth Rs 910.2 crore. Further, till the time of writing of this report, 28.28 million shares had together changed hands on the both the exchanges.

While Business Standard could not ascertain the buyers and sellers, reports suggest Canada Pension Plan Investment Board (CPPIB) likely sold off its entire stake in the logistics company.

Earlier, in April 2024, CPPIB had divested a 2.8 per cent stake in the supply chain and logistics firm for Rs 908 crore. Back then, it had sold 2,04,50,000 shares of Delhivery, amounting to a 2.8 per cent stake, at an average price of Rs 444.30 per piece.

After the deal, CPPIB's shareholding stood at 3.16 per cent in Delhivery, down from 5.96 per cent as of March 2024,shareholding data showed on the BSE.

Delhivery is a supply chain and logistics; solutions provider, engaged in providing a full range of logistics services, including delivery of express parcel and heavy goods, partial truck loan (PTL) freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software.

Meanwhile, shares of Rajesh Exports soared 15.1 per cent to Rs 329.25 per share amid heavy volumes. Three large-value trades were visible in the company's volume data.

One large trade occurred at 11:13 AM at Rs 320.5 per share, second occurred at 12:17 PM at Rs 319.15 per share, and third large-trade in Rajesh Exports happened at 1:46 PM.

Thus far, 21.95 million shares of Rajesh Exports have together changed hands on the NSE and BSE.

Similarly, shares of Shoppers Stop jumped 18.4 per cent to Rs 908.95 per share, also its fresh record high. A volume spike was seen at 1:46 PM with 20,239 shares changing hands on the BSE at Rs 877.25 per share. Thus far in Wednesday's session, 1.06 million shares have changed hands on both the exchanges.

According to analysts, the retail sector may see varied revenue growth trends in the June quarter of FY25, reflecting a mixed-bag performance as discretionary spending continues to remain subdued.