Delhivery hits new high; soars 15% as Credit Suisse gives outperform rating

While announcing its Q4FY22 results, Delhivery said that majority of the investments made by the company in FY22 were towards capacity and capability building in the form of capex.

Shares of Delhivery surged 15 per cent to Rs 617 on the BSE in Thursday’s trade after global brokerage Credit Suisse initiated covergage on the stock with an 'outperform' rating and a target price of Rs 675. 

With this, the stock has gained 18.6 per cent in the last three days. The stock of the logistics services provider was trading at its highest level since listing on May 24, 2022.

At current levels, Delhivery is 27 per cent higher over its issue price of Rs 487 per share. The stock had hit a low of Rs 474 on