India, Feb. 13 -- Shares of logistics giant Delhivery surged as much as 4.6% during early trading hours on the BSE today (February 13).

Even at 10:55 AM, the stock was hovering at the same price, with its market capitalisation at INR 21,333.30 Cr. At the same time, the trade volume stood at 19.3 Lakh.

The stock's rally comes despite the company receiving a tax demand notice of INR 3.32 Cr from the Goods and Services Tax (GST) authorities in West Bengal.

The authorities have demanded INR 3.02 Cr in tax while imposing an additional penalty of INR 30.21 Lakh.

While the company noted that there would be no material impact on its financials, operations, or other activities, it stated that it intends to file an appeal against the order with...