Shares of Delhivery sprung over 1.5% to reach Tuesday's intraday high of ₹322.
What Happened: The Logistics company on Tuesday announced its partnership with, eSamudaay, a software solution provider, to give rural business owners wider access to customers around the country.
Bangalore-based eSamudaay's tech-enabled platform, ‘TyohaarForever' curates hyperlocal products produced by local artisans. Now with this partnership, the company will have Delhivery’s delivery network to make these local products accessible across the country.
The two network partners of the government's Open Network for Digital Commerce (ONDC), also informed of the first deliveries to be made through the partnership. The platform enabled the first set of Himalayan Honey produced by Tenacious Bee Collective, which was shipped by Delhivery to Delhi, Mumbai, and Bangalore from Himachal Pradesh's Kangra district.
Commenting on the partnership Delhivery's, Chief Operating Officer, Ajith Pai, said that "Delhivery’s technology-enabled, fully-integrated logistics solutions, entrepreneurs and businesses from the remotest villages and settlements can serve customers across the country."
Pai also lauded the ONDC initiative stating that the country has huge demand from different tiers of the economy, and "ONDC will truly unlock the growth potential of digital commerce in India."
Price Action: Delhivery shares were up 0.60% to trade at ₹319.40.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.