Snowman Logistics is on a big gain today. The stock rose over 15% to hit an intraday high at Rs.41, not too far from its 20% UC of the day at Rs.42.70. Its 52-week high is at Rs.45.80.
The company has a huge ocean of opportunity opening up as the vaccine is close to becoming a reality. The Pfizer vaccine needs to be stored in ultra cold containers, colder than even the North Pole and it is here that logistics company like Snowman see an opportunity as demand for cold storage is expected to increase manifold.
India plans to get over 50 crore doses of the vaccine by June 2021 and the company said that it has been getting a lot of enquiries from govt agencies, authorities and some of the private organizations.