Snowman MOU with SpiceJet - Angel Broking

Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd

Snowman Logistics Ltd stock up by 4.14% on announcement of signing Memorandum of Understanding with Spicejet Ltd for jointly distributing COVID-19 Vaccines. Company has announced that Snowman Logistics Limited and SpiceJet have signed a MOU for jointly engaging in storage, transportation, and distribution of COVID-19 vaccines from various manufacturers, across India and internationally, in the required temperature-controlled zones. As per the understanding, Snowman will handle the ground services which includes activities such as transportation to/from manufacturers, warehouses, airports and consumption points, packing, storage & warehousing, in the required temperature zones, while SpiceJet will provide the air connectivity for temperature controlled distribution of the COVID-19 vaccines across India as well as internationally. This is a very positive development for Snowman Logistics this is very significant for snowman logistics.

Shares of Snowman Logistics Ltd was last trading in BSE at Rs.61.15 as compared to the previous close of Rs. 58. The total number of shares traded during the day was 1368693 in over 7816 trades.

The stock hit an intraday high of Rs. 61.9 and intraday low of 56.05. The net turnover during the day was Rs. 80835208.

Shares of SPICEJET LTD. was last trading in BSE at Rs.99.65 as compared to the previous close of Rs. 93.8. The total number of shares traded during the day was 3852696 in over 25808 trades.

The stock hit an intraday high of Rs. 101.15 and intraday low of 88. The net turnover during the day was Rs. 366632563.

Source : Equity Bulls

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