Ace Indian Logistics Player Added to FTSE All Cap Index on Friday
By Malvika Gurung
Investing.com — The country’s largest logistics provider Delhivery (NS:) has been added to the international equity index, the All Cap index, and is now a part of the index from Friday, Dec 16.
As per estimates made by market analysts, it is unlikely that the largest fully-integrated logistics services provider in India will be added to the equity benchmark indices and anytime in near future.
The FTSE Global All Cap Index is a market-capitalisation weighted index representing the performance of large, mid and small-cap stocks globally and covers stocks from developed as well as emerging markets.
The top constituents of the global index comprise US tech behemoths including Apple Inc (NASDAQ:), Microsoft Corp (NASDAQ:) and Amazon.com (NASDAQ:), along with other heavyweights like Tesla (NASDAQ:) and Johnson & Johnson (NYSE:).
Shares of Delhivery ended flat at Rs 363.75 apiece on Friday.
On Dec 15, 2022, the company announced that it went live on the e-commerce platform Open Network For Digital Commerce (ONDC). With this move, the sellers will be able to leverage the company’s extensive network of over 18,000 pin codes across the country.