The short-term trend of Nifty remains choppy with alternative candle formations like bull and bear. A sustainable move above the immediate resistance of 21800-21850 levels could open a sharp upside towards another resistance of 22000-22100 levels in the near term, said Nagaraj Shetti of HDFC Securities.
The whole logistics sector has seen a major shake-up in the last few years, right from tech aggregators who came into the scene with a promise to disrupt, challenges that Covid brought on the table to a phase where oil prices become a pain point for margins. After all the challenges, the sector has emerged stronger as some companies restructured their operations to stay profitable. There are many facts about the logistics industry which might surprise many. Just to mention a few, a metal major has such a large fleet of owned trucks that the unit itself can be listed as a separate company and probably would figure in the top 5 logistic companies. Last year at one point of time, the market cap of one single company was higher than the market cap of all the private sector companies put together and interestingly that company was in the red.
Swiggy said Srinivasan was stepping down due to “increasing business commitments”, without explaining further. The firm did not name a replacement for the position.
Indian logistics firm Delhivery posted its first-ever quarterly profit since listing on Friday, helped by healthy demand for online shopping during the festive season.
Consolidated profit ..