Block Deal Boost: Delhivery Shares Surge, Record Highest Turnover on BSE

By Manasi

Synopsis: Delhivery Ltd's shares surged following a massive block deal worth Rs 910.2 crore, resulting in the highest turnover on the BSE. The shares traded at an average price of Rs 388.45 each, with 2.34 crore shares changing hands.

Block Deal Boost: Delhivery Shares Surge, Record Highest Turnover on BSE

Delhivery Ltd, a prominent logistics services firm, saw a significant increase in its share price today following a substantial block deal. Reports indicate that 2.34 crore shares were traded at an average price of Rs 388.45 per share, resulting in a total transaction value of Rs 910.2 crore. This large-scale trade contributed to an impressive turnover of Rs 914.96 crore on the BSE.


The identities of the buyers and sellers involved in this block deal were not immediately disclosed. Following the transaction, Delhivery's shares hit an intraday high of Rs 403.65, marking a 2.88% rise from the previous close of Rs 392.50 on the BSE.


Delhivery shares have experienced fluctuations over the past year, reaching a 52-week high of Rs 488 on February 5, 2024, and a 52-week low of Rs 354.50 on December 15, 2023. The company's market capitalization rose to Rs 29,092 crore following the block deal. Despite opening on a flat note at Rs 395.60, the shares gained momentum during the trading session.


Technical Analysis and Performance

In terms of technical indicators, Delhivery's relative strength index (RSI) stands at 42, suggesting that the stock is trading in a neutral zone, neither overbought nor oversold. The stock's beta value of 0.7 indicates low volatility over the past year. Currently, Delhivery's shares are trading below their 5-day, 10-day, 20-day, 50-day, 100-day, 150-day, and 200-day moving averages.


Company Profile

Delhivery Ltd is a leading logistics services provider in India, offering a comprehensive range of services. These include the delivery of express parcels and heavy goods, part-truckload (PTL) and full-truckload (TL) freight, warehousing, supply chain solutions, cross-border express, freight services, and supply chain software. As of FY21, Delhivery is recognized as the largest and fastest-growing fully integrated logistics services company in India by revenue.


Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial advice. Please consult a financial advisor before making any investment decisions.

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