Delhivery cedes more ground, hits new low despite Q2 loss shrinking

Several brokerages bullish on the stock with target prices ranging between Rs 330 and Rs 700

The share price of Delhivery has seen deep reactions since the stock listed in June at a price of Rs 535. The IPO was priced at Rs 487 and the stock hit a high of Rs 708 in June. It hit its all-time low of Rs 329.90 on Monday (Nov 21) before recovering to the Rs 344 level on the NSE.

There have been concerns about sustainability of revenue growth and low visibility of profits since the April-June quarter (Q1) results were declared and those concerns have not disappeared with the July-September quarter (Q2) results. The revenue concerns are centred