Delhivery stock falls 2.7% after block deal

Delhivery’s stock has closed lower in seven out of the last eight sessions and lost about 9 percent during the period. After listing on exchanges in May 2022, it has dropped over 37 percent from its issue price of Rs 487 per share.

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Shares of Delhivery Ltd. fell over 2.7 percent intraday on January 13 after the company saw a huge block deal wherein around 2.84 million shares changed hands, according to a report by Bloomberg. Reportedly, details of the buyers and sellers were not known.

At 1:45 pm, the stock quoted Rs 307.30 apiece on BSE, down 2.60 percent from the previous close.

The stock has closed lower in seven out of the last eight sessions and lost about 9 percent during the period. After listing on exchanges in May 2022, it has dropped over 37 percent from its issue price of Rs 487 per share.

New-age stocks under pressure

New-age stocks have been under pressure in the last few trading sessions due to huge block deals. For instance, earlier in the day, Nykaa saw around 1 million shares change hands, as per Bloomberg. Yesterday, the counter saw 14 million shares change hands in bunch trades.

Paytm owner One97 Communications Ltd also saw a huge block deal on January 12. Its promoter Alibaba Group reportedly sold around 3 percent stake in the firm for Rs 1,031 crore via a block deal.

Also Listen: Paytm — Is it time for investors to nibble? | Market Minutes

Zomato Ltd‘s stock also remained under pressure on Friday. The stock was trading at Rs 53.30 on BSE at 1:45 pm on January 13, down 1 percent from its previous close. It traded lower for eight out of the last nine trading sessions and declined 11.6 percent during the period. In the last one year it has fallen over 60 percent.