India, June 22 -- Shares of logistics major Delhivery surged 6.6% during the intraday trading to hit a 52-week high of Rs.491.50 apiece on the BSE after upbeat brokerage commentary fuelled investor optimism about the company's growth prospects.

The stock later pared some of the gains and was trading 5.2% higher at Rs.484.90 at 14:56 IST. The company's market capitalisation stood at Rs.36,285.4 Cr (about $3.8 Bn) at the time.

Shares of Delhivery have gained nearly 7% in the last five trading sessions and over 8% in the past month. The stock is up over 20% year-to-date.

Today's rally came after brokerages projected an upside of 26-32% in the stock. Last week, JM Financial reiterated its 'BUY' rating on Delhivery with a target price of Rs...