
Delhivery Shares Surge After Major Acquisition!
Delhivery's shares rose by 4% in a tough market, thanks to its acquisition of rival Ecom Express for ₹1,407 crore. This deal, made in cash, is expected to enhance service for customers and strengthen Delhivery's position in the logistics sector. With this acquisition, Ecom will become a subsidiary of Delhivery after necessary regulatory approvals. Analysts from JM Financials and Emkay Global are optimistic, maintaining their 'buy' ratings with target prices of ₹400 and ₹380. They believe this merger will create significant market share and cost benefits, especially since both companies cover nearly all pin codes in India.