There has been a growing demand for single-point end-to-end cold chain services by large multinational companies
SI Reporter |
Shares of Snowman Logistics continued their northward journey and hit a 52-week high of Rs 63, up 10 per cent, on the BSE in the intra-day trade on Thursday on favourable demand prospects. In the past eight trading days, the stock of the logistic company has rallied 77 per cent from a level of Rs 35.60 hit on November 9, 2020.
At 02: 30 pm, Snowman Logistics was trading 7 per cent higher at Rs 61.50 as compared to a 1.3 per cent-decline in the S&P BSE Sensex. Trading volumes on the counter more-than-doubled with a combined 8.04 million shares changing hands on the NSE and BSE till the time of writing of this report.
According to India Ratings & Research (Ind-Ra), there has been a growing demand for single-point end-to-end cold chain services by large multinational companies. This has led to the