India, Jan. 27 -- Shares of Delhivery continued their downward spiral for the third straight day and slipped 4% to hit a fresh 52-week low at INR 308.70 apiece during the intraday trading on the BSE on Monday (January 27).

The stock has declined nearly 7% in the last five trading sessions and over 27% in the past 12 months.

At 2:57 PM, the market capitalisation of the logistics major stood at INR 22,954.30 Cr (around $2.65 Bn).

The decline in Delhivery's share price coincided with the company's announcement that it has partnered with Hindustan Petroleum Corporation Ltd (HPCL) for pan-India lubricant distribution.

Through the partnership, HPCL aims to leverage Delhivery's robust part truck load (PTL) logistics infrastructure to strengt...