Delhivery shares jump 3%; should you buy, sell or hold? Here is what Macquarie suggests

Delhivery share price NSE: Shares of Delhivery jumped higher on Wednesday on D-Street, extending a winning streak for the third session after global brokerage Macquarie reaffirmed its 'outperform' rating on the Indian logistics solution provider. Delhivery shares rose as much as 3 per cent on NSE in morning deals to hit a day's high of Rs 375.55. The counter finished 0.29 per cent higher at Rs 365 on NSE.

Delhivery share price target: Here's what Macquarie suggests

Macquarie has maintained its 'outperform' rating on Delhivery. The brokerage has placed the target price at Rs 520, translating to an upside potential of 43 per cent from the previous close of Rs 363.95 on NSE.

The brokerage is of the view that the company may post better growth in the second half of FY24. The brokerage maintained its stance of 15 per cent plus Gross Merchandise Value (GMV) growth for the entire e-commerce space.

Delhivery share price history:  

Delhivery shares have gained 13 per cent year to date. In the last one year, the stock has gained over 5 per cent, underperforming the benchmark index Nifty 50, which has rallied over 17 per cent in the same period.

Last month, Delhivery acquired an additional stake in Falcon Autotech Private, extending its stake in the company to 39.34 per cent.The acquisition was concluded on November 9, 2023, for an aggregate of 84,528 shares at a value of Rs 5,920 per share and a final aggregate purchase price of Rs 50.04 crore.

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