Delhivery Shares Tumble 6.5% After Surprise Rally During Black Monday Crash; Time To Buy?

Delhivery's share price declined more than 6.5% on Tuesday amid high trading volumes, a day after the company scrip witnessed a surprise rally amid the Black Monday Crash. The logistics firm is in the news for its top leadership change and the acquisition of competitor Ecom Express.

Delhivery shares fell drastically on Tuesday to hit their intraday low mark on BSE. The company scrip was in demand on Monday when it advanced nearly 2.42% despite overall market crash. Nifty 50 and BSE Sensex opened nearly 5% down on Monday.

Delhivery Share Price Today

Delhivery shares were trading nearly 7.6% lower on Tuesday to Rs 248.05 per share on BSE during intraday trading with a market capitalisation of Rs 18,494.15 crore. Delhivery shares witnessed a spurt in volumes by more than 2.34 times on BSE today.

Delhivery stock hit 52-week-high mark of Rs 478 apiece on BSE on 12 April, 2024. As of now, the company scrip is striving to recover from the losses made when it touched 52-week low mark of Rs 236.8 per share on BSE on 13 March 2025.

Delhivery Announces Ecom Express Acquisition

There has been a sudden surge in interest among investors about Delhivery shares after the company announced the acquisition of its competitor Ecom Express, last week. To strengthen its position in the e-commerce supply chain landscape, the logistics major, on Saturday, April 5, announced the acquisition of Ecom Express Limited in a deal worth Rs 1,400 crore.

The Gurugram-based Ecom Express was once seen as a competitor of Delhivery and had even planned to go public, but its IPO plan was cancelled for some reasons. The company was established by Manju Dhawan, K. Satyanarayana, Late T. A. Krishnan and Late. Sanjeev Saxena in 2012.

Delhivery Announces Top Leadership Change

In its BSE filing on Monday, the company said that the company shareholder approved the appointment of Sameer Ashok Mehta and Namita Vikas Thapar on top leadership role. Delhivery shareholders have approved the appointment of Sameer Ashok Mehta as a Non-Executive Independent Director and payment of remuneration. Namita Vikas Thapar's appointment has been approved as Non-Executive Independent Director and payment of remuneration

Delhivery Share Price Recommendations

Expressing optimism around Delhivery's deal of acquiring Ecom Express, brokerage firm Emkay has initiated a 'Buy' rating for the logistics firm.

"With majority of customers being common between the two and given the learnings from the Spoton acquisition, we expect sales retention and network integration to be relatively smooth. However, concerns around Meesho increasing the insourcing of logistics would continue to cast a shadow on the volume trajectory in the near term. We retain BUY on Delhivery while cutting our DCF-based TP by ~6% to Rs400 (Dec-25E)," read a note by Emkay on April 7. Emkay has put a target price of Rs 400 apiece.

Kotak Institutional Securities in its market commentary maintained a 'Buy' rating with an upside expectation of 62% for Delhivery shares on Monday, April 7.

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