“The proposed combination comprises the acquisition of at least 99.44% of the equity and preference shareholding (on a fully diluted basis) of Ecom Express Ltd by Delhivery Ltd,” the CCI said in a statement.
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In April, Delhivery had announced that it signed a definitive agreement to acquire a majority stake in the unlisted logistics firm for a cash consideration not exceeding Rs 1,407 crore. The deal had already been cleared by Delhivery’s board and required CCI’s regulatory approval.
The acquisition is expected to strengthen Delhivery’s position in last-mile delivery, warehousing, and fulfilment services, further expanding its reach in the fast-growing Indian e-commerce logistics space.
Ecom Express, headquartered in Gurugram, reported a turnover of Rs 2,607.3 crore in FY24, slightly up from Rs 2,548.1 crore in FY23.Also Read: 10 midcap stocks with more than 20 buy Calls: Analysts see up to 25% upside
Delhivery share price target
According to Trendlyne, the average target price for Delhivery stands at Rs 413, suggesting a potential upside of nearly 15% from current levels. Out of the 23 analysts covering the stock, the consensus rating is ‘Buy’.
Technical indicators show the stock’s Relative Strength Index (RSI) at 57.7. An RSI below 30 indicates oversold conditions, while a reading above 70 signals overbought levels. The MACD is at 14.3—above the centre line but below the signal line.
Delhivery shares closed 1.7% lower at Rs 358.8 on the BSE in the previous session. The stock has rallied 48% over the past three months but remains down more than 12% over the last year.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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