{"id":113749,"date":"2023-11-15T16:41:11","date_gmt":"2023-11-15T11:11:11","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=113749"},"modified":"2023-11-15T16:41:16","modified_gmt":"2023-11-15T11:11:16","slug":"logistics-stock-jumps-8-5-after-promoter-buys-additional-stake-in-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/logistics-stock-jumps-8-5-after-promoter-buys-additional-stake-in-the-company\/","title":{"rendered":"Logistics stock jumps 8.5% after promoter buys additional stake\u00a0in the company"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2375300370\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of this logistics company under the \u2018micro-cap\u2019 category zoomed 8.50 percent in Wednesday\u2019s trading session after its Parent company bought an additional stake of 0.26 percent.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2280918998\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs 920.65 crores, the stocks of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/SNOWMAN\/standalone?standalone=true\" target=\"_blank\" rel=\"noreferrer noopener\">Snowman Logistics Limited<\/a>, <\/strong>an associate company of<strong> <a href=\"https:\/\/portal.tradebrains.in\/stock\/GATEWAY\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Gateway Distriparks Limited<\/a><\/strong>, closed at Rs 55.10, gaining approximately 8.50 percent as compared to the previous close of Rs 50.84.\u00a0<\/p><p>In a recent exchange filing, the company intimated that Gateway Distriparks Limited, a major shareholder from the Promoter group of Snowman Logistics, bought an additional stake of 0.26 percent, i.e., 4.36 lakh equity shares. The shares were bought on the 12th and 13th of November 2023.&nbsp;<\/p><p>Pre-acquisition, Gateway Distriparks held a 43 percent stake, and, post-acquisition, the holding went up to 43.26 percent.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3716364630\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>During the recent quarters, the company\u2019s financial performance has declined marginally with the operating revenues going down slightly from Rs 128.77 crores during Q1FY23-24 to Rs 124.02 crores during Q2FY23-24, and, the after-tax profit numbers, due to increased depreciation and interest obligations, moving down from Rs 3.38 crores to Rs 2.93 crores.&nbsp;<\/p><p>Moreover, the company has successfully been able to increase its basic return ratios such as the return on equity (RoE) as well as the return on capital employed (RoCE). The former increased from 0.40 percent during FY21-22 to 3.18 percent during FY22-23, and, the latter, during the same period, rose from 4.30 percent to 8.18 percent.&nbsp;<\/p><p>The latest shareholding pattern data of the company, as per the September 2023 quarter, portrays the Promoters holding a 43 percent stake, and the Foreign Institutional Investors (FIIs), recently increasing their stake, currently hold a 2.32 percent stake.&nbsp;<\/p><p>Snowman Logistics Limited is a company based in India that is engaged in the business of providing integrated cold chain solutions. The company operates in four business segments, i.e., warehousing, transportation, consignment, and trading &amp; distribution.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Amit Madnani&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-929693609\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of this logistics company under the \u2018micro-cap\u2019 category zoomed 8.50 percent in Wednesday\u2019s trading session after its Parent company bought an additional stake of 0.26 percent.&nbsp; With a market capitalization of Rs 920.65 crores, the stocks of Snowman Logistics Limited, an associate company of Gateway Distriparks Limited, closed at Rs 55.10, gaining approximately 8.50 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":97173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[11286,11285,948,936],"class_list":["post-113749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-snowman-logistics-latest-news","tag-snowman-logistics-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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