Indian Economy News

Delhivery enters top 100 most-valued firms' club; m-cap tops Rs. 50,000 crore (US$ 6.27 billion)

  • IBEF
  • July 22, 2022

Logistics services provider, Delhivery's, market capitalisation crossed Rs. 50,000 crore (US$ 6.27 billion) on 21 July, 2022 as the stock hit a new high of Rs. 707.65 (US$ 8.87) , up 5% on BSE in the intra-day trade. With this, the company has joined the most-valued listed firms' club.

Delhivery is the largest and the fastest growing fully integrated logistics services player in India by revenue as of FY22. It provides supply-chain solutions to a diverse base of 23,613 active customers such as e-commerce marketplaces, direct-to-consumer retailers and enterprises and various SMEs.

On June 22, 2022, Delhivery announced intentions to upgrade its infrastructure in two key cities of Bengaluru and Bhiwandi. The company is working with Welspun on a 700,000 sq. ft. mega-gateway in Greater Mumbai and with GMR on a facility that will be over one million sq. ft. and feature a warehouse for Delhivery clients' multi-channel order fulfilment.

These fully automated large integrated trucking terminals are expected to be operational by 2023 and will increase Delhivery's processing capacity to meet the customer demand from the South and West.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.