Friday, February 28, 2025
Home Business Delhivery shares fall 12% after Q4 results but brokerages see upside. Know why

Delhivery shares fall 12% after Q4 results but brokerages see upside. Know why

by
0 comment

May 21, 2024 12:12 PM IST

Delhivery share price fell 11.92 per cent to ₹383.90 compared to its previous close at ₹435.90.

Delhivery share price: Shares of Delhivery Ltd fell 12 per cent today (May 21) after the company posted Q4 results. Although, brokerages remain mostly positive on the stock post earnings in which Delhivery posted a loss of 68.5 crore in the quarter ended 31 March, 2024- down 57 per cent on a year-on-year (YoY) basis from a loss of 159 crore in the corresponding period last year. The company also said that its Executive Director and Chief Business Officer (CBO), Sandeep Kumar Barasia has resigned and July 1 will be his last working day.

Read more: Bharat Electronics share price up 9%: What to expect from the defence stock

Delhivery share price today

Shares of the company fell 11.92 per cent to 383.90 compared to its previous close at 435.90. The total market capitalization slipped below more than 30,000 crore.

Unlock exclusive access to the latest news on India’s general elections, only on the HT App. Download Now! Download Now!

What brokerages said on Delhivery share price

Read more: Balkrishna Industries shares rise 8% to 52-week high: What brokerages said

Kotak Institutional Equities added a ‘buy’ tag to the stock and noted, “Results were solid on other metrics, key among which were resilient margin in Express Parcel, healthy growth at improving margin. Capex appears to peak and working capital has improved, boosting the case for cash break even in FY2026. We cut Ebitda estimates by 15 per cent and 12 per cent for FY2025 and 26, respectively and revise DCF-based fair value to 545.”

Prabhudas Lilladher noted, “The strong growth in the PTL network is leading to a continuous improvement in asset utilization. The management expects continued volume growth in the segment in FY25E. We change our stance to ‘buy’ rating with a target of 530 based on DCF, on the back of faster than expected recovery in the PTL margin.”

Read more: Vodafone Idea shares: Nomura India ups target price by 131%. Here’s why

Nuvama Institutional Equities retained a ‘hold’ rating on the stock and noted, “Losses had been narrowing but still persist. Profitability remains the key for the stock price to start an upward trajectory. We have increased our estimates by 1-6 per cent over FY25E/26E with a revised DCF based target price of 463, from 450.”

  • ABOUT THE AUTHOR
    author-default-90x90

    Follow the latest breaking news and developments from India and around the world with Hindustan Times’ newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we’ve got you covered.

IPL 2024 Coverage

You may also like

Leave a Comment

About Us

Welcome to Janashakti.News, your trusted source for breaking news, insightful analysis, and captivating stories from around the globe. Whether you’re seeking updates on politics, technology, sports, entertainment, or beyond, we deliver timely and reliable coverage to keep you informed and engaged.

@2024 – All Right Reserved – Janashakti.news