Snowman Logistics share price dipped by nearly 5% per cent this morning. The stock opened with a decline of 3.90 points at Rs. 72.65 against its previous closing at Rs. 72.40. The stock touched the days high and low at Rs. 72.65 and Rs. 67.00.
A private equity fund started by Deepak Parekh's son Aditya Parekh and childhood friend Sameer Shroff named Faering Capital, have withdrew its investment in Snowman Logistics, the largest integrated cold-chain service supplier in India providing warehousing, transport and other value-added services.
It invested Rs 20 crore in Snowman Logistics by its initial public offering in September 2014, as per the fund. The fund sold its investments in the company for a total value worth Rs 37.1 crore, attaining a multiple of 1.9x on the investment. Co-founder, Faering Capital, Shroff , informed that they have identified Snowman Logistics as a prominent player back in 2013 and had refined an investment thesis on the basis of its growth prospects with the added support of various stakeholders in the company.
Meanwhile Snowman Logistics share price is currently trading at Rs. 68.50. Approximately 20lakh shares are traded in the counter as per NSE against its average volume for last 20 days which is seen at 4291385.
Snowman Logistics Share Price Forecast
Snowman Logistics is one of the 500 stock recommended by Dynamic Levels for this quarter amongst the 1700 shares. Snowman Logistics share price touched its 52 week high at Rs. 110.80(10-AUG-15) while the 52 week low is seen at Rs. 46.00 (29-FEB-16).The company has a market cap amounting to Rs. 1209.72 crore. For further information on the scrip, kindly follow the Snowman Logistics share price history page of Dynamic Levels Website and the Ladder on Snowman Logistics share price forecast page to get the resistance and support levels.
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