Delhivery, a prominent logistics services provider, has unveiled its digital shipping platform called Delhivery One, aimed at catering to micro and small enterprises. The newly launched platform brings together various essential shipping services for businesses, encompassing post-purchase communication, analytics, international shipping, easy integration with sales channels, NDR (Non-Delivery Report) management, and more, as stated in an official press release from the company.
The platform enables smaller businesses to ship products without any minimum order value, with a wallet recharge requirement of just Rs 500. It also extends discounted shipping rates for parcels exceeding 5 kg in weight. Delhivery One is designed to facilitate seamless shipping to over 220 countries, capitalising on Delhivery’s collaboration with FedEx.
Mohammed Ali, Head of SME and Direct Business at Delhivery, emphasised, “The introduction of Delhivery One marks a significant stride towards empowering SMEs to excel in the ever-evolving eCommerce landscape. Through a range of value-added services, our aim is to strengthen Delhivery’s position as the preferred shipping partner for micro and small enterprises.”
Ali further noted that Delhivery One, tailored for SMEs, complements Vinculum, the company’s partner for larger enterprises, effectively addressing the software requirements of its customer base across all segments.
Delhivery, with its extensive nationwide network spanning more than 18,500 pin codes, offers a comprehensive array of logistics services including express parcel transportation, PTL freight, TL freight, cross-border shipping, supply chain management, and technology services.
On the stock market front, Delhivery’s stock price experienced a second consecutive decline. It was observed trading 2.61% lower at Rs 408.35, with around 25,000 shares changing hands on the BSE, notably lower than the two-week average volume of 55,000 shares. The stock’s turnover amounted to Rs 1.04 crore, reflecting a market capitalisation of Rs 29,937.26 crore.
In the year 2023, the stock has demonstrated a gain of 23.13%. However, it has encountered a decline of 26.86% over the past year.
The stock’s current trading position was noted below the 5-day and 10-day simple moving averages (SMAs), as well as the 20-day SMA. Yet, it was above the 30-day, 50-day, 100-day, 150-day, and 200-day SMAs. The stock’s 14-day relative strength index (RSI) stood at 49.73, indicating a balanced position. An RSI value below 30 signifies oversold conditions, while a value surpassing 70 suggests overbought conditions. The company’s stock possesses a negative price-to-equity (P/E) ratio of 54.79 against a price-to-book (P/B) value of 3.20.
According to data from Trendlyne, the stock holds an average target price of Rs 460, suggesting a potential upside of 12%. With a one-year beta of 0.76, the stock showcases relatively low volatility.
Meanwhile, the Indian equity benchmarks demonstrated gains today, primarily driven by advances in technology, financial metal, pharmaceutical, and consumer sectors.