Delhivery stocks hit 52-week high today: What's the reason?
What's the story
Delhivery's shares surged nearly 5% today, hitting a 52-week high of ₹452.55 per stock. The jump comes after the logistics giant posted stellar results for the April-June quarter of FY26. The company's net profit stood at ₹91 crore for Q1 of the current fiscal year, marking a whopping 67% year-on-year increase from ₹54 crore reported in the same quarter last year.
Financial performance
Revenue from operations up 6% YoY
Along with the net profit, Delhivery's revenue from operations also saw a 6% YoY growth to ₹2,294 crore in the quarter under review. The company's EBITDA improved by an impressive 53% YoY to ₹149 crore. This strong financial performance has been well-received by investors, contributing to the surge in share prices today.
Strategic move
Acquisition of Ecom Express completed
On August 1, Delhivery announced that it has finished the acquisition of rival Ecom Express for up to ₹1,407 crore. The deal was finalized on July 18 and is expected to enhance network synergies while reducing capital expenditure intensity. However, the firm clarified that the first-quarter results do not reflect the impact of Ecom Express, as financials are being consolidated from the date of closing of the acquisition.
Market response
Motilal Oswal, Kotak Institutional Equities bullish on Delhivery
Following the release of its Q1 results, brokerages reacted positively toward Delhivery's stock. Motilal Oswal retained its 'Buy' rating but revised its target price to ₹500 per share, indicating an upside possibility of over 16% from the stock's previous closing price. Kotak Institutional Equities also maintained a 'Buy' call on Delhivery stocks with a target price of ₹500 per share.