Archive · 17 Sep 2025
JP Morgan Initiates Coverage on Indian Logistics Stocks
JP Morgan, a financial firm, is now watching several Indian logistics companies.
They predict India's online shopping delivery market will grow significantly.
The firm believes companies like Delhivery will do well, but also highlights other companies such as Aegis Logistics, Container Corporation of India (Concor), and TCI Express.
The forecast is based on the growth of online shopping and increased customer reach in smaller cities.
Some stocks have 'Overweight' ratings, meaning JP Morgan thinks they will do well.
The firm believes oil and gas logistics has growth potential as well.
JP Morgan initiated coverage on Delhivery, Aegis Logistics, Concor, and TCI Express.
The firm anticipates 16% CAGR for the B2C e-commerce logistics market through FY30.
Rising customer penetration in tier-2 and smaller cities is a key growth driver.
JP Morgan assigned an 'Overweight' rating to Delhivery and Aegis Logistics.
Target prices were set for each stock.
- Who
- JP Morgan
- What
- Initiated coverage on Indian logistics stocks
- When
- FY30 (e-commerce forecast)
- Where
- India
- Why
- Due to growth in e-commerce and oil/gas sectors
Risk Factors for Stock Valuation
Growth Drivers for Stock Valuation
Earnings and Market Performance
Risk Factors for Stock Valuation
Earnings misses have often led to sharp de-ratings.
Growth Drivers for Stock Valuation
Logistics firms demonstrating strong revenue growth potential are rewarded.
- Companies Covered
- Delhivery, Aegis Logistics, Concor, TCI Express
- B2C E-commerce Growth Forecast
- 16% CAGR through FY30
- Delhivery Rating
- Overweight
- Aegis Logistics Rating
- Overweight
- Concor Rating
- Neutral
- TCI Express Rating
- Neutral
- Delhivery Target Price
- ₹575
- Aegis Logistics Target Price
- ₹895
- TCI Express Target Price
- ₹750
- Concor Target Price
- ₹590
Sources
Aegis, Concor, Delhivery, TCI Express: JPMorgan sets targets on 4 logistics stocks
India's e-commerce logistics market growing faster than industry, to grow at 16% CAGR by FY30: JP Morgan
India's E-commerce Logistics Market Growing Faster Than Industry, To Grow At 16% CAGR By FY30: JP Morgan