Snowman Logistics soars 15% as company partners with DRL

NEW DELHI: Shares of Snowman Logistics rallied as much as 15 per cent during the early trade on Thursday as the logistics company entered into a strategic partnership with Hyderabad based Dr. Reddy’s Labs.

Snowman Logistics has inked a partnership with the drug major to provide temperature-controlled end-to-end logistics solutions for the delivery of the Sputnik Covid-19 vaccine across India.

Shares of Snowman Logistics soared 15 per cent to Rs 59 on Thursday, but gave up some gains to trade at Rs 56.10. BSE Sensex was up by 308.71 points or 0.60 per cent at 52,158.19 at the time of writing this report. The counter settled at Rs 51.35 on Wednesday.


Snowman will manage the delivery through five of its temperature-controlled warehouses in Mumbai, Delhi-NCR, Kolkata, Chennai, and Bengaluru. The company will offer storage, order processing, shipper packing and secondary transportation from these locations, said a company statement.

The temperature, throughout, will be maintained between -20 degree Celsius and -25 degree Celsius. With this, Snowman will be the largest third-party logistics service provider for vaccines in the country offering national reach to Dr. Reddy’s Lab, added the statement.

Shares of Snowman Logistics are 27 per cent down from its 52-week peak of Rs 71.25 scaled during December 2020. It took a hit after the Adani Group offloaded its entire stake in the company.