Delhivery Enters Quick-Commerce With Two-Hour Delivery Service, Shares Rise

Delhivery Ltd. on Thursday launched a sub two-hour delivery service for brands for faster order deliveries by consumers. The logistics provider started 'Rapid Commerce' in Bengaluru, which has already begun processing over 300 orders daily, demonstrating strong early demand for the offering, a statement said.

"For D2C brands, retailers and e-commerce brands—the service enables them to offer significantly faster delivery times, thereby improving customer experience on their own platform," the statement said.

Delhivery plans to expand its network of shared in-city 'Rapid Stores', offering across other metro cities including Bengaluru, Hyderabad, Chennai, Delhi NCR, Mumbai, Pune and Ahmedabad in the coming months.

The two-hour delivery service addresses needs of brands across categories such as beauty and personal care, apparel and fashion, electronics and accessories etc., which were traditionally reliant on standard e-commerce delivery timelines, to reach consumers within hours of the order being placed on their platform, the company said.

Delhivery share price advanced over 3.23% intraday to Rs 335.35 apiece. The scrip was trading 2.14% higher at Rs 331.8 per share by 11:55 a.m. The benchmark NSE Nifty 50 was up 0.4%.

The stock has fallen 18% in the last 12 months. The relative strength index was at 43.

Nineteen of the 24 analysts tracking Delhivery have a 'buy' rating on the stock and five recommend a 'hold', according to Bloomberg data. The average of 12-month analysts' price target of Rs 455 implies a potential upside of 38%.