The stock fell nearly 3 percent to Rs 299.55 in the intraday trading session. Meanwhile, talking about the stock’s performance, the company’s shares have seen constant selling pressure over the past year, with the stock down 9 percent year-to-date this year. Meanwhile, Delhi’s stock has fallen by 43 per cent in the past one year.
The IPO came last year
Delhivari’s IPO was last year in May 2022. The IPO price was Rs 487, meaning the stock has fallen by 38 percent from the IPO price. Besides, the stock is trading down about 57.71% from its all-time high of Rs 708.45. Delhi’s stock has made investors rich since its listing, resulting in strong buying in the stock till July 2022. However, the share price continued its bearish session later.
Should you buy shares?
However, global brokerage Macquarie looks bullish on the Delhi stock and has issued a ‘buy’ advice on the share. Shares of Dillivari rose today after four sessions since Macquarie started coverage on the logistics services company. The brokerage has assigned an Outperform rating to the company with a target price of Rs 440.
Losses in the second quarter
The company’s net loss stood at Rs 254 crore in the second quarter of the current financial year, as against Rs 635 crore in the year-ago period. Earlier in June 2022 quarter the loss of the company was Rs 399 crore which means the overall loss has come down. In addition, Delhi Wari reported a 22 percent increase in Q2FY23 to Rs 1,796 crore as against Rs 1,497.7 crore in the same quarter last fiscal.