DELHIVERY STOCK
Ecom Express’ rights issue; Google Cloud chief interview
Ecom Express is planning a $170 million rights issue led by existing investors. This and more in today’s ETtech Top 5.
Morgan Stanley sees 7-35% upside for new-age stocks
"We see macro factors aligning (multiple re-rating for growth stocks in India and other regions, tight PE/VC money keeping the competitive environment benign) with micro factors (strong execution reflected in market share gains, margin improvement driving profit upgrade cycle) and supporting share prices," said Morgan Stanley's analysts in a client note.
Zepto raises $665 million funding at $3.6 billion valuation to take on Blinkit, Swiggy Instamart
Company to double dark-store count to 700, taking on rivals Blinkit, Swiggy Instamart and Big Basket’s BB Now; DST Global, Lightspeed Venture Partners, Avenir Growth Capital and Avra joined as new investors in the round led by Glade Brook Capital, StepStone Group and Nexus Venture Partners.
Third-party firms Delhivery, Xpressbees look to sort out logistics of quick commerce race
Third-party logistics firms like Delhivery and Xpressbees are venturing into the quick-commerce sector to support platforms such as Swiggy Instamart, Blinkit, and Zepto as demand surges. Sensing opportunity in the q-commerce space, Delhivery has started to work with Swiggy Instamart’s larger warehouses which supply to small dark stores, or fulfilment centers. Meanwhile, Xpressbees is talking to multiple players for the same.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of over 20%
Just because the Nifty has been trading in a volatile mood for the last few trading sessions, the word correction might be heard on the street. The fact is that if one looks at the internal of the markets, there has been an ongoing correction which is taking place which has been largely guided by the numbers which companies have delivered for Q4. Also there is a kind of sectoral correction taking place. The good part is that such kind of sectoral corrections are indicative of underlying bullishness and these corrections are part of any bull run. The only thing any investor needs to make sure is that in any corrective phase, bias when making fresh investment should be toward large cap stocks as there is a possibility that they would see less damage in corrections which are stronger in nature due to global or macro developments. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
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These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of over 20%
Just because the Nifty has been trading in a volatile mood for the last few trading sessions, the word correction might be heard on the street. The fact is that if one looks at the internal of the markets, there has been an ongoing correction which is taking place which has been largely guided by the numbers which companies have delivered for Q4. Also there is a kind of sectoral correction taking place. The good part is that such kind of sectoral corrections are indicative of underlying bullishness and these corrections are part of any bull run. The only thing any investor needs to make sure is that in any corrective phase, bias when making fresh investment should be toward large cap stocks as there is a possibility that they would see less damage in corrections which are stronger in nature due to global or macro developments. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
New-age stocks recover post poll results; Ixigo IPO launch
A day after election results, shares of new-age companies like Zomato and Delhivery made a sharp recovery on the bourses. A look at the numbers and more in today’s ETtech Top 5.
Stock prices of new-age firms swing on poll results
Major new-age companies including Zomato, Paytm, Delhivery, Nykaa and PB Fintech saw their stock prices plummet on Tuesday. However, as the broader markets recovered some losses on Wednesday, these stocks also saw their prices rise. This plunge followed massive gains on Monday when exit polls had suggested a clear mandate for the ruling Bharatiya Janata Party (BJP).
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 20%
As the street grapples with what will be the final come out of elections, the street is witnessing two things, unwinding of the long position which were taken after the exit poll showed a comfortable win for ruling BJP and also fresh short position being created. Whatever may be the final outcome, it would be better to stick to the basic principle of investing, that is looking at fundamentals and developments in the sector and only when things are positive on both the front then only go ahead and take a decision. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Delhivery partners with SUGAR Cosmetics for pan-India B2B logistic operations
Delhivery has partnered with SUGAR Cosmetics to manage its B2B logistics operations in India. The company will use Delhivery's extensive networks, technology-driven solutions, and express Part Truck Load (PTL) services to ensure faster delivery of B2B consignments. SUGAR Cosmetics, India's third-largest colour cosmetics brand, will benefit from Delhivery's express PTL service for quick stock replenishment.
Brokerages bearish on Delhivery post Q4 nos, shares plunge 10%
"Margin improvement is volatile as the small impact on utilisation for its network impacts the margin as pricing power is limited," said the brokerage, while slashing its target price from ₹600 to ₹488.
Sensex drops 53 points in volatile trade amid weak global cues; metal stocks shine, IT falters
Gains from metal and energy stocks were offset by losses in banking and IT stocks. Tata Steel, JSW Steel, and Power Grid saw considerable gains, climbing 2.5% to 3.7%. US rate-sensitive IT stocks closed 0.2% lower. Volatility on Tuesday touched 22.3, a 23-month-high. The market capitalisation of all listed companies on BSE surged by Rs 2.23 lakh crore to Rs 414.58 lakh crore.
Delhivery shares crash 12% on higher-than-expected Q4 loss. Should you buy, sell or hold?
Delhivery Share Price: Delhivery shares plummeted 12% to Rs 383.90 as higher losses in Q4 disappointed investors. CLSA downgraded the stock to underperform, citing revenue growth below expectations. Despite some positive metrics, profitability concerns persist, with analysts revising target prices.
Hot Stocks: Brokerage view on Phoenix Mills, Anupam Rasayan; CLSA downgrades Delhivery
CLSA downgraded Delhivery to underperform, Jefferies raised Zydus Life target, and Anupam Rasayan had balance sheet concerns. Citigroup recommended buying Phonix Mills.
Sensex drops 200 points on US Fed's hawkish comments, FII selling; Nifty below 22,500
Indian equity indices dipped on hawkish U.S. Federal Reserve comments and pre-election foreign selling. Market volatility persisted with mixed sectoral performance. Foreign investor selling and domestic institutional buying influenced market stability.
Stocks in news: ZEE, Delhivery, Bandhan Bank, JSW Steel, Concord Biotech
ZEE Ltd has reported a net profit of Rs 13.35 crore for the quarter ended March 2024, compared with a loss of Rs 196 crore in the same quarter of last year.
Delhivery forms subsidiary to offer drone services
Delhivery's new subsidiary, Delhivery Robotics India Pvt Ltd, will offer drone services, in addition to manufacturing and research and development of unmanned aerial vehicles. The Gurugram-based company had acquired Transition Robotics in 2021, marking its foray in the drone technology space. On Friday, Delhivery reported an 11% rise in Q4 operating revenue.
Stocks in news: Bajaj Finance, Nestle, Tech Mahindra, IndusInd Bank, Axis Bank, HUL, Kotak Bank
Shares of Bajaj Finance, Nestle, Tech Mahindra and IndusInd Bank will be in focus as the companies will announce their quarterly results later in the day.
Canadian pension fund looks to trim stake in Delhivery via $110 million block deal: Report
According to exchange data, CPPIB currently holds 5.96% stake in the firm, which is also backed by the likes of Nexus Ventures, Steadview Capital, Softbank, and Fedex.
Stock Radar: Delhivery takes support above 200-EMA; buy if you have medium-term time horizon
Delhivery stock consolidates near a 52-week high, showing potential for an upward trend. Short-term traders aim for 600 levels, while medium-term investors watch the bullish signals. Expert recommendations guide the investment approach, emphasizing risk management.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Indian shares fell on Monday, following losses in Asian markets, as investor sentiment was subdued after Iran's retaliatory attack on Israel over the weekend spurred fears of a wider regional conflict. The NSE Nifty 50 fell 1.1% to 22,272, while the S&P BSE Sensex lost 1.14% to 73,399, at close.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
The blue-chip NSE Nifty 50 index was up 0.61% at 22,462, while the BSE Sensex added 0.49% to 74,014, at the close. Nifty on Monday formed a Doji candle on the daily chart with the index trying to break above the crucial overhead resistance of 22,500-22,550 levels.
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