Snowman Logistics gains on commencing new Bengaluru warehouse

The new warehouse at Bengaluru has a capacity of 4,500 pallets

Shares of Snowman Logistics were up nearly 2% at Rs 94.80 on the BSE after the company announced that it has commenced a new warehouse located at Bengaluru.

The new warehouse with a capacity of 4,500 pallets is situated at Sy.86/1, Cheemasandra Village, Bidarahalli Hobli, Bengaluru East Taluk, Bengaluru, the company said in a release.

Following the commencement of the Bengaluru warehouse, the total warehousing capacity of the company has increased to 94,500 pallets, the release added.

The stock opened at Rs 93 and touched a high of Rs 95.30. At 12:25pm, over 400,000 shares were traded on both the stock exchanges.