As Macquarie forecasts a 17% increase, Delhivery shares jump for the third day.

On Tuesday, October 7, shares of Delhivery Ltd. increased for the third consecutive day after Kotak Institutional Equities upgraded the stock the day before and brokerage firm Macquarie expressed optimism about the stock's prospects. With a price objective of ₹540 per share, Macquarie kept its "outperform" rating on Delhivery, indicating a possible 17% increase from Monday's closing levels. The main factor contributing to the brokerage's optimism is a notable shift in the company's volume growth. In a recent volume disclosure for the month of September, Delhivery revealed that it shipped ₹19,000 crore worth of goods in advance of the holiday season.