Logistics shares extend rally; Snowman Logistics gains 96% in 5 weeks

Snowman Logistics and SpiceJet have signed an MoU for jointly engaging in storage, transportation and distribution of Covid-19 vaccines

Shares of logistic companies continued to be in focus at the bourses, rallying up to 14 on the BSE on Friday amid expectation of higher growth going forward.

Snowman Logistics, Navkar Corporation, Allcargo Logistics, Transport Corporation of India and Mahindra Logistics were up in the range of 7 per cent to 14 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.58 per cent at 46,228 points, at 09:38 am.

Shares of Snowman Logistics rose 14 per cent and hit a 52-week high of Rs 69.90 on the BSE. The stock has rallied 96