Snowman MOU with SpiceJet - Angel Broking
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Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
Snowman Logistics Ltd stock up by 4.14% on announcement of signing Memorandum of Understanding with Spicejet Ltd for jointly distributing COVID-19 Vaccines. Company has announced that Snowman Logistics Limited and SpiceJet have signed a MOU for jointly engaging in storage, transportation, and distribution of COVID-19 vaccines from various manufacturers, across India and internationally, in the required temperature-controlled zones. As per the understanding, Snowman will handle the ground services which includes activities such as transportation to/from manufacturers, warehouses, airports and consumption points, packing, storage & warehousing, in the required temperature zones, while SpiceJet will provide the air connectivity for temperature controlled distribution of the COVID-19 vaccines across India as well as internationally. This is a very positive development for Snowman Logistics this is very significant for snowman logistics.