Fan Site: Inspired, Not Endorsed, By Rakesh Jhunjhunwala

Goldman Sach on Delhivery
Downgrade to Sell from Neutral, TP cut to Rs 480 from Rs 520
Near- to medium-term growth challenges to both express parcel & PTL biz have emerged
Cut FY24/FY25 est (GSe lowered by 6%-7% cumulatively on rev & 20%-28% on EBITDA).

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