Snowman Logistics gets 'dosed'

Snowman Logistics is right there among the top three gainers on the BSE since the opening bell. The stock opened over 9.5% higher at Rs.56.25 and rose further by almost 16% to hit an intraday high at Rs.59, on the back of volumes more than doubling up. Its 52-week high is at Rs.71.25.

The company announced yesterday that it has entered into a strategic partnership with Dr Reddy's to provide temperature-controlled end-to-end logistics solutions for the delivery of the two-dose Sputnik COVID-19 vaccine across India.

Snowman will manage the delivery through five of its high-capacity temperature-controlled warehouses in Mumbai, Delhi-NCR, Kolkata, Chennai, and Bengaluru.

It will offer storage, order-processing, shipper packing and secondary transportation from these locations.