Delhivery shares gain 3% after EV partnership with RIDEV to deploy 150 EVs

Shares of Delhivery Ltd. rose over 3 per cent on Tuesday after it entered into a pact with electric mobility startup RIDEV to deploy 150 electric vehicles to scale green logistics. 

 

The logistics solution provider's stock rose as much as 3.35 per cent during the day to ₹432.1 per share, the biggest intraday gain since February 3 this year. The stock pared gains to trade 2.8 per cent higher at ₹430 apiece, compared to a 0.22 per cent advance in Nifty 50 as of 12:18 PM. 

 

Shares of the company snapped a two-day losing streak and currently trade at 1.1 times the average 30-day trading volume, according to Bloomberg. The counter has risen 6.5 per cent this year, compared to a 2 per cent decline in the benchmark Nifty 50. Delhivery has a total market capitalisation of ₹32,280.06 crore. 

 

Delhivery to deploy 150 EVs 

Delhivery announced a strategic partnership with electric mobility startup RIDEV to deploy 150 high-performance electric vehicles as part of its efforts to accelerate last-mile electrification, according to an exchange filing. 

 

The rollout, scheduled over the next three months, will cover North East India, Bengaluru and Hyderabad, marking a key step in the company’s broader roadmap to scale green logistics operations. Delhivery said the initiative forms a critical component of its strategy to decarbonise its urban delivery network and strengthen its sustainable logistics capabilities.

 

As part of the collaboration, the companies will introduce an "EV-as-a-Service" leasing model aimed at easing the transition for Delhivery’s delivery partners. The model seeks to remove high upfront costs and technical barriers, enabling a smoother and financially viable shift to electric vehicles for gig workers.

 

"By providing our delivery partners with a low-friction entry into electric mobility, we are not only advancing our carbon neutrality goals but also significantly enhancing the economic well-being of our riders through reduced operational overheads," Prashant Gazipur, senior vice president, last mile operations, Delhivery, said in the statement. 

Delhivery Q3 net profit rises 59% YoY

Delhivery reported a 58.50 per cent rise in net profit to ₹39.61 crore for the quarter ended December 2025, compared with ₹24.99 crore in the corresponding quarter last year. Revenue from operations increased 17.94 per cent to ₹2,804.99 crore during the quarter, up from ₹2,378.30 crore in the year-ago period.