Block deal effect: Delhivery shares rise, log highest turnover on BSE

Shares of logistics services firm Delhivery Ltd were trading higher after reports said a block deal worth Rs 910.2 crore took place in early deals today. Delhivery saw 2.34 crore shares changing hands in the block deal, said reports. The block deal was done at an average price of Rs 388.45 per share. A total of 235.51 lakh shares of the firm changed hands amounting to a high turnover of Rs 914.96 crore on BSE.

Buyers and sellers in the deal were not immediately known.

Delhivery shares touched an intraday high of Rs 403.65, rising 2.88% today against the previous close of Rs 392.50 on BSE.

They touched a 52-week high of Rs 488 on February 5, 2024 and fell to a 52 week low of Rs 354.50 on December 15, 2023. Market cap of Delhivery rose to Rs 29,092 crore. It opened on a flat note at Rs 395.60.

In terms of technicals, the relative strength index (RSI) of Delhivery stands at 42, signaling it's trading neither in the overbought nor in the oversold zone. The stock has a beta of 0.7, indicating very low volatility in a year. Shares of Delhivery are trading lower than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day  and 200 day moving averages.   

Delhivery is engaged in providing a full range of logistics services, including delivery of express parcel and heavy goods, PTL freight, TL freight, warehousing, supply chain solutions, cross-border Express, freight services, and supply chain software. Delhivery is the largest and fastest-growing fully integrated logistics services player in India by revenue as of FY21.