Delhivery Shares Fall Amid Talks Of SoftBank Selling Stake

Shares of Delhivery Ltd. fell on Friday on media reports that SoftBank, a major shareholder of the company, may sell a 4% stake in the company through a block deal.

SoftBank holds 14.5% stake in the company as of Sept. 30 through its subsidiary SVF Doorbell (Cayman) Ltd., according to the BSE data.

The stock traded volume so far in the day was around 1,900% higher from Thursday at 2.05 crore shares or 2.8% of the total share capital of the company.

Shares of the company fell as much as 3.7% apiece to Rs 398.50 before paring losses to trade 2.7% lower at Rs 402.85 apiece as of 12:21 p.m. This compares to a 0.05% decline in the NSE Nifty 50.

It has risen 21.53% on a year-to-date basis. Total traded volume so far in the day stood at 56 times its 30-day average. The relative strength index was at 42.32.

Out of 23 analysts tracking the company, 14 maintain a 'buy' rating, five recommend a 'hold,' and four suggest a 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 8.9%.