New Delhi, Oct. 15 -- E-commerce enablement platform Shiprocket, which debuted on Indian stock exchanges in August, has received a bullish outlook from domestic brokerage firm JM Financial.

In its latest report, the brokerage highlighted the company's diversified approach to capitalizing on India's expanding commerce enablement opportunity, its growing merchant base, and opportunities in its emerging businesses. JM Financial expects these factors to push revenue to Rs.43.4 billion by FY29E.

JM Financial said Shiprocket's core shipping business serves as an entry point for merchant relationships, allowing the company to benefit from rising online sales and higher transaction volumes without owning logistics infrastructure.

It expects th...