Delhivery risks downside risk as Meesho increases up low cost in-house logistics

Global brokerage Jefferies has set a price objective of ₹390 per share and maintained a 'Underperform' rating on Delhivery, indicating a potential 7% decline from Monday's close. The call coincides with Meesho's DRHP highlighting a significant increase in the company's internal logistics via its Valmo platform, which operates at lower shipment costs than larger third-party logistics suppliers. Meesho is also transferring these efficiency improvements to sellers, highlighting the importance of logistical expenses for marketplaces.