Shares of logistics services provider Delhivery hit their all-time low today, plunging nearly 4 per cent on stake sale by CA Swift Investments. Delhivery stock fell 3.95 per cent intraday to Rs 331.60 against the previous close of Rs 345.25. With today’s low, the stock has declined 53.19 per cent from its all-time high of Rs 708.45 on BSE.
Shares of Delhivery have been losing for the last 5 days. Delhivery stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Market cap of Delhivery fell to Rs 24,343 crore. Total 3.88 lakh shares of the firm changed hands amounting to a turnover of Rs 13.02 crore on BSE. In a month, the stock has fallen 10.63%.
CA Swift Investments sold half of its holding in Delhivery at an average price of Rs 330.02 apiece, NSE bulk deal data indicated on Monday. CA Swift Investments sold 1,84,04,607 (1.84 crore) shares of Delhivery, amounting to a transaction of Rs 607.38 crore.
The shares were sold at an average price of Rs 330.02 apiece. At the end of quarter ended September, CA Swift Investments held 5.07 per cent stake in the company.
Delhivery stock ended 1.91% lower on NSE in the previous session.
With today’s fall, the Delhivery stock has lost 31.90 per cent or Rs 155 from its IPO price of Rs 487. The IPO of Delhivery was open from May 11 to May 13. The company offered its shares in a price band of Rs 462 to Rs 487. The Delhivery share listed on May 24, 2022 at a premium of 1.68% at Rs 495.20 on NSE. On BSE, the stock listed at Rs 493, 1.23 per cent higher to the IPO price.
In the second quarter of the current fiscal, Delhivery reported a loss of Rs 254 crore against the loss of Rs 635 crore clocked in the year-ago period. The logistics firm’s loss also decreased sequentially as it stood at Rs 399 crore in the June 2022 quarter.
Revenue in Q2 came in at Rs 1,796 crore, 22 percent higher against Rs 1,497.7 crore reported in the corresponding quarter of the last fiscal. Q2 revenue numbers rose marginally quarter-on-quarter as well from Rs 1,745.7 crore in Q1FY23.
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