Logistics firms gain ahead of rival Snowman's listing

Reuters Market Eye - Shares of India's logistics firms gain ahead of the listing of rival cold storage company Snowman Logistics in the next few weeks.

Gati jumps 8.6 percent, Container Corp of India gains 2.6 percent, Balmer Lawrie and Co advances 3 percent.

Snowman's initial public offer was subscribed 59.75 times, NSE data shows.

Container Corp trades at 20.8 times of its 12-month forward earnings as per Reuters data, while Snowman's IPO is likely to be priced at around 29 times, traders add.

(Reporting by Abhishek Vishnoi)