Delhivery shares locked in 10% upper circuit on low-level buying

Shares of Delhivery were locked in a 10% upper circuit limit at Rs 378.6 on Tuesday thanks to low-level buying.

After logging a record low in the previous session, the stock has reportedly logged the best intraday gains since July 7, 2022. Volumes in the counter have also spurted and stood at 1.3x 20-day average trading volume.

With today’s gains, the stock has managed to snap its 4-day losing streak.

On the sideline, the company, in a filing today, informed that a board meeting would be held on November 11 to consider the quarterly results.

“A meeting of the board of directors of the company will be held on November 11, 2022, inter alia to consider and approve the unaudited financial results, both on standalone and consolidated basis, for the quarter and half year ended on September 30, 2022 along with the limited review report of the auditors thereon,” said the company’s filing.

Listed in May this year, Delhivery shares currently are trading more than 20% below its IPO issue price of Rs 487%.