Mumbai, July 9 -- The revised target price implies a potential upside of about 19% from the current market price.

The brokerage expects express parcel volumes to remain robust and said there has been no material change in e-commerce platform Meesho's plans to expand in-house logistics operations. This eases concerns over potential business loss for third-party logistics providers.

The broker also expects the company's part-truckload (PTL) business to sustain its growth momentum, while the supply chain services (SCS) segment is likely to accelerate, although it expects some near-term margin pressure.

Delhivery is India's largest fully-integrated logistics services provider. With its nationwide network covering over 18,850 pin codes, the...