Shares of logistics major Delhivery witnessed strong buying in Tuesday's trade, settling nearly 5 per cent higher following an announcement regarding the company's global expansion strategy.

The Delhivery stock closed 4.64 per cent higher at Rs 415.20 on the BSE, over its previous close of Rs 396.80 apiece. According to Trendlyne data, Delhivery’s RSI stands at 32.9, placing it in a mid-range zone, while the Money Flow Index (MFI) at 28.1 signals oversold conditions. Advertisement

The Delhivery stock continues to trade below its 50-day SMA of 444.8, but remains above the 200-day SMA of 382.9.

This positive sentiment came after Delhivery on Tuesday announced the launch of 'Delhivery International', a new strategic service aimed at empowering Indian Micro, Small, and Medium Enterprises (

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