Delhivery Shares Tank To 52-Week Low After A Large Trade

Shares of Delhivery Ltd. plunged to a 52-week low after a large trade.

At least 12.8 lakh shares changed hands in a large trade, according to Bloomberg data.

Shares of the company fell 4.42% to Rs 320.35 apiece as of 11:37 a.m., while the benchmark Nifty 50 gained 0.18% on the NSE. During early trade, the stock hit an intraday low of Rs 318.5.

The total traded quantity so far in the day was 3.3 times the 30-day average. The relative strength index is 22, indicating that the stock might be oversold.

Of the 12 analysts tracking the company, eight maintain 'buy', three suggest 'hold' and one recommends 'sell', according to Bloomberg data. The 12-month consensus price target implies an upside of 57%.

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