Delhivery launches digital shipping platform for small businesses; stock extends fall
Delhivery share price: On the stock-specific front, Delhivery fell for the second consecutive session. The scrip was last seen trading 2.61 per cent lower at Rs 408.35. Around 25,000 shares changed hands today on BSE, much lower than the two-week average volume of 55,000 shares. Turnover on the counter stood at Rs 1.04 crore, commanding a market capitalisation (m-cap) of Rs 29,937.26 crore.
- Aug 21, 2023,
- Updated Aug 21, 2023 1:21 PM IST
Logistics services provider Delhivery on Monday launched a digital shipping platform for micro and small enterprises. Named Delhivery One, it integrates and unifies multiple shipping services that businesses need, such as post-purchase communication, analytics, international shipping, one-click integration with sales channels, NDR management, and more, the company stated in a release.
"It allows smaller businesses to ship without a minimum order value and with a minimum wallet recharge of Rs 500. It also offers discounted shipping rates on heavier parcels above 5 kg. Delhivery One enables small businesses to seamlessly ship to more than 220 countries, leveraging Delhivery's partnership with FedEx," it mentioned.
"The launch of Delhivery One is a significant step towards empowering SMEs to excel within the ever-evolving eCommerce landscape. Through multiple value-added services, our goal is to strengthen Delhivery's position as the preferred shipping partner for micro and small enterprises," said Mohammed Ali, Head of SME and Direct Business at Delhivery.
With Delhivery One's focus on SMEs and Vinculum as a partner for larger enterprises, the firm addresses software needs of its customers across every segment, he added.
With its nationwide network covering over 18,500 pin codes, the company said it provides a wide range of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services.
On the stock-specific front, Delhivery fell for the second consecutive session. The scrip was last seen trading 2.61 per cent lower at Rs 408.35. Around 25,000 shares changed hands today on BSE, much lower than the two-week average volume of 55,000 shares. Turnover on the counter stood at Rs 1.04 crore, commanding a market capitalisation (m-cap) of Rs 29,937.26 crore.
The counter has gained 23.13 per cent in 2023 so far. However, it has declined 26.86 per cent in the past one year.
The stock today was last seen trading lower than the 5-day, 10-, 20-day simple moving averages (SMAs) but higher than the 30-day, 50-, 100-, 150-, and 200-day SMAs. The counter's 14-day relative strength index (RSI) came at 49.73. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a negative price-to-equity (P/E) ratio of 54.79 against a price-to-book (P/B) value of 3.20.
The scrip has an average target price of Rs 460, Trendlyne data showed, suggesting a potential upside of 12 per cent. It has a one-year beta of 0.76, indicating low volatility on the counter.
Meanwhile, Indian equity benchmarks were up today, led by gains in technology, financial metal, pharma and consumer stocks.
Also read: Titan shares: Caratlane stake purchase EPS dilutive in near term. Stock price targets & more
Logistics services provider Delhivery on Monday launched a digital shipping platform for micro and small enterprises. Named Delhivery One, it integrates and unifies multiple shipping services that businesses need, such as post-purchase communication, analytics, international shipping, one-click integration with sales channels, NDR management, and more, the company stated in a release.
"It allows smaller businesses to ship without a minimum order value and with a minimum wallet recharge of Rs 500. It also offers discounted shipping rates on heavier parcels above 5 kg. Delhivery One enables small businesses to seamlessly ship to more than 220 countries, leveraging Delhivery's partnership with FedEx," it mentioned.
"The launch of Delhivery One is a significant step towards empowering SMEs to excel within the ever-evolving eCommerce landscape. Through multiple value-added services, our goal is to strengthen Delhivery's position as the preferred shipping partner for micro and small enterprises," said Mohammed Ali, Head of SME and Direct Business at Delhivery.
With Delhivery One's focus on SMEs and Vinculum as a partner for larger enterprises, the firm addresses software needs of its customers across every segment, he added.
With its nationwide network covering over 18,500 pin codes, the company said it provides a wide range of logistics services such as express parcel transportation, PTL freight, TL freight, cross-border, supply chain, and technology services.
On the stock-specific front, Delhivery fell for the second consecutive session. The scrip was last seen trading 2.61 per cent lower at Rs 408.35. Around 25,000 shares changed hands today on BSE, much lower than the two-week average volume of 55,000 shares. Turnover on the counter stood at Rs 1.04 crore, commanding a market capitalisation (m-cap) of Rs 29,937.26 crore.
The counter has gained 23.13 per cent in 2023 so far. However, it has declined 26.86 per cent in the past one year.
The stock today was last seen trading lower than the 5-day, 10-, 20-day simple moving averages (SMAs) but higher than the 30-day, 50-, 100-, 150-, and 200-day SMAs. The counter's 14-day relative strength index (RSI) came at 49.73. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a negative price-to-equity (P/E) ratio of 54.79 against a price-to-book (P/B) value of 3.20.
The scrip has an average target price of Rs 460, Trendlyne data showed, suggesting a potential upside of 12 per cent. It has a one-year beta of 0.76, indicating low volatility on the counter.
Meanwhile, Indian equity benchmarks were up today, led by gains in technology, financial metal, pharma and consumer stocks.
Also read: Titan shares: Caratlane stake purchase EPS dilutive in near term. Stock price targets & more