Snowman Logistics fell 3.76% to Rs 58.9 after Adani Logistics sold another 0.75% stake in the company via bulk deal on Monday, 14 December 2020.
As per the bulk deal data on the NSE, Adani Logistics on Monday (14 December 2020) sold 12,45,956 shares (0.75% of equity) of Snowman Logistics at average price of Rs 62.21.Since 27 November 2020, Adani Logistics has offloaded 1.14 crore shares, or 6.83% equity, of Snowman Logistics through seven separate bulk deals on the NSE.
As on 30 September 2020, Adani Logistics held 4.34 crore shares or 26% stake in Snowman Logistics.
Snowman Logistics is engaged in the business of temperature-controlled logistics including transportation by road and distribution of products requiring a temperature-controlled environment.
The company reported a standalone net profit of Rs 0.78 crore in Q2 FY21 compared with net loss of Rs 8.99 crore in Q2 FY20. Net sales during the quarter declined by 11.2% YoY to Rs 55.12 crore.
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