Delhivery shares jump 3% as Nexus sells 1.6% stake

What moved Delhivery stock on April 9

Delhivery shares rose as much as 3% to an intraday high of ₹473.55 on the NSE on Thursday, April 9, after a set of institutional purchases linked to a stake sale by Nexus Venture Partners.

The stock was trading 2.46% higher at ₹471.15 as of 11:37 AM. The buying interest followed a block deal executed on Wednesday, April 8, where multiple investors collectively bought 1.6% in the logistics company.

The April 8 block deal: price, value, and stake size

According to block deal data on the NSE, the shares were bought at an average price of ₹442 apiece, taking the combined deal value to ₹530.40 crore on April 8.

Nexus Venture Partners offloaded an equal number of shares through two affiliates, Nexus Ventures III Ltd and Nexus Opportunity Fund Ltd.

Who bought Delhivery shares in the April block deal

The buyers named in the block deal data included a mix of domestic institutions and a global bank.

Paris-based BNP Paribas bought 11,40,000 shares. SBI Mutual Fund bought 45,75,000 shares and Nippon India Mutual Fund bought 45,75,000 shares. Edelweiss Mutual Fund bought 5,70,000 shares, AlphaGrep Investment Management bought 5,70,000 shares, and ICICI Prudential Life Insurance Company bought 5,70,000 shares.

What Nexus sold: affiliate-wise split

The selling was split between Nexus’ two entities, both at the same ₹442 price.

Nexus Ventures III offloaded 1,04,37,083 shares. Nexus Opportunity Fund Limited sold 15,62,917 shares through a block deal.

How the stock had been trending

Ahead of the April 9 surge, Delhivery shares had settled at ₹413 apiece on the NSE on Tuesday, up 0.25%.

The scrip had gained 11% in the past week and 13% over the month. On a year-to-date basis, it had jumped 18%, based on the figures cited in the update.

Recent operational update: international service expansion

In a regulatory filing dated March 18, Delhivery announced the expansion of its Economy Air Parcel Service under ‘Delhivery International’ to the United Kingdom, Canada, and Australia.

The update was positioned as an expansion of the company’s international offering, coming at a time when investors were tracking both volumes and operating leverage across the logistics sector.

Market capitalisation snapshot

Delhivery’s total market capitalisation was reported at ₹35,274.41 crore as of April 9, 2026, based on NSE data referenced in the report.

What Morgan Stanley said on Delhivery

Morgan Stanley maintained its Equal-weight rating on Delhivery while raising the target price to ₹470 from ₹445, citing improving industry dynamics and the company’s operating leverage.

The brokerage said the industry environment remained favourable and supported the view that stronger logistics players were gaining market share and improving volume growth. It also highlighted operating leverage and linked it to the scope for margin expansion as volumes grow.

Industry volume outlook and growth expectations

Morgan Stanley noted that management had reiterated during the last earnings call that industry volumes could grow 15% to 20% year-on-year.

The brokerage added that the company was expected to grow faster than the industry over the medium term. It forecast revenue CAGR of over 16% in the next two years, compared with an estimated CAGR of around 9% to 10% during FY23 to FY26E.

Another block deal instance: June 26 stake transfer at ₹387

Separately, another set of block deal disclosures cited that Morgan Stanley, Citigroup Global Markets Singapore and six other entities bought a 1.6% stake in Delhivery for ₹461 crore.

The entities picked up over 1.19 crore shares at an average price of ₹387, with Nexus Venture Partners (via Nexus Opportunity Fund and Nexus Ventures III) offloading an equal number of shares at the same price. In the March quarter, Nexus Ventures III owned a 5.88% holding in Delhivery.

Key numbers at a glance

Why the block deals matter for investors

The April and June block deal disclosures point to repeated large-ticket stake transfers in Delhivery, with Nexus Venture Partners appearing as the seller through its affiliates and a wide set of institutions on the buy side.

For the market, such deals are closely watched because they reveal where large pools of capital are willing to transact and at what clearing price levels, particularly when the stock is also responding to broker targets and operational updates.

Conclusion

Delhivery’s April 9 move came as investors tracked a 1.6% stake purchase by multiple institutions and an equal stake sale by Nexus Venture Partners’ affiliates at ₹442 per share.

Alongside the block deal, attention has remained on Delhivery’s international service expansion and brokerage commentary around volumes, operating leverage, and medium-term growth expectations.