Shares of new-age logistics firm Delhivery fell another 18% on Friday morning on the BSE, following a 15% drop on Thursday due to the firm’s muted growth outlook.
Delhivery shares are currently trading at Rs 386.70 per share, down nearly 18% from the previous close on the BSE on Thursday. This is a new low for Delhivery’s stock since it went public earlier this year. In a stock exchange filing, Delhivery stated that it expects to see an adverse impact from high inflation and moderate growth in shipments for the remainder of the fiscal year. The forecast from Delhivery is significant because it is the largest third-party logistics provider in the ecommerce space and is regarded as a proxy for online consumption and demand trends.
