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Delhivery Share Price: The stock of logistics company Delhivery has also seen a big fall in Friday’s trading share. And in the last two days, the share price of Delhivery has fallen by 31 percent. The company was listed on the stock exchange in the same year and this is the biggest decline in the stock since the listing.
Why Delhivery Share Price Dropped
Delhivery informed in a regulatory filing to the stock exchanges on Wednesday that the pace of growth of shipments may slow down in the remaining period of this financial year. The company also said that the effect of high inflation can also be seen. The company said that in the third quarter, due to good sales in the festive season, there will be a tremendous growth in shipment volumes. However, the pace of shipments may slow down for the rest of the year. After this statement of the company, the stock has been beaten.
sharp fall in stock
After this statement of Delhivery, investors were very disappointed about the performance of the company and there was heavy selling in the stock on Thursday and Friday. On Thursday, the stock fell 15 percent earlier to Rs 471. And on Friday, the stock fell 18.13 percent to Rs 385.75. The stock had fallen to Rs 376 in a single trading session on Friday. The market cap of Delhivery has come down to Rs 28,018 crore.
Delhivery is the third largest company in the e-commerce logistics space. The IPO (Intial Public Offering) of Unicorn company Delhivery came at a price of Rs 487 per share in the same year. But now the share of Delhivery has slipped even from the IPO price. The stock is trading 21 per cent below the IPO price level. The company had raised Rs 5235 crore through IPO.
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