Snowman Logistics declines after Adani Logistics pares stake

Snowman Logistics fell 3.39% to Rs 62.70 after Adani Logistics sold another 1.83% stake in the company via bulk deal on Friday.

As per the bulk deal data on the NSE, Adani Logistics on Friday (11 December 2020) sold 30,62,932 shares (1.83% of equity) of Snowman Logistics at average price of Rs 64.92.

Since 27 November 2020, Adani Logistics has offloaded 1.01 crore shares, or 6.09% equity, of Snowman Logistics through six 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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