Snowman Logistics share price added 15 percent intraday on June 3 after the company announced a partnership with Dr Reddy's for the delivery of Sputnik COVID-19 vaccine across India.
" ...... in a strategic partnership with Hyderabad-based 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," the company said in the release.
Snowman will manage the delivery through five of its high-capacity temperature-controlled warehouses in Mumbai, Delhi-NCR, Kolkata, Chennai, and Bengaluru, the company said.
It will offer storage, order-processing, shipper packing and secondary transportation from these locations, it added.
"With this partnership with Dr Reddy's, we aim to reach maximum institutions administering vaccines through our five high-capacity temperature-controlled warehouses," said Snowman Logistics CEO Sunil Nair said.
"We are hopeful of carrying a seamless drive from these warehouses through our fleet of refrigerated vehicles maintaining the requisite temperatures throughout the delivery cycle," he added.
At 0949 hours, Snowman Logistics was quoting at Rs 56.20, up Rs 4.85, or 9.44 percent, on the BSE.
The share touched its 52-week high of Rs 71.25 on December 30, 2020 and a 52-week low of Rs 25 on May 27, 2020. It is trading 21.12 percent below its 52-week high and 124.8 percent above its 52-week low.
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