📦 JP Morgan on India’s Logistics Sector 🚛✈️

🔹 Initiating Coverage – Key Calls: !delhivery : ₹575 🎯 (Overweight)

: ₹895 🎯 (Overweight) (Concor): ₹590 (Neutral) TCI Express: ₹750 (Neutral) 📊 Sector Insights: India’s B2C e-commerce logistics set to grow at 16% CAGR till FY30, powered by tier 2+ city penetration & tech adoption. Automation is key to tackle labour shortages & improve efficiency. New-age players like Delhivery leveraging tech to build execution edge & higher entry barriers. 👉 Bottom line: Logistics is gearing up for the next growth wave — B2C/B2B express & oil/gas segments expected to lead the pack.