{"id":114978,"date":"2023-12-06T13:03:26","date_gmt":"2023-12-06T07:33:26","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=114978"},"modified":"2023-12-06T13:03:31","modified_gmt":"2023-12-06T07:33:31","slug":"logistics-stock-hit-52-week-high-after-promoter-buys-additional-stake-in-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/logistics-stock-hit-52-week-high-after-promoter-buys-additional-stake-in-the-company\/","title":{"rendered":"Logistics stock hit 52-week high after promoter buys additional stake in the company"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2629350669\"><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>In Wednesday&#8217;s session, smallcap stock rose 4.2 percent to its 52-week high of Rs 62.20 from the previous close of Rs 59.65 after the company announced the purchase of 8,50,000 equity shares by the company promoter.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2588041606\"><!-- 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>According to the filling of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/SNOWMAN\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Snowman Logistics<\/a><\/strong>, <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/GATEWAY\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Gateway Distriparks Ltd<\/a><\/strong> promoter of the company purchased 8,50,000 equity shares which is 0.51 percent of the company from the open market purchase on tuesday.\u00a0<\/p><p>Additionally, as a result of these purchases of equity shares by the Gateway Distriparks Ltd promoter of the company, their shareholding will be increased from 43.26 percent to 43.77 percent.&nbsp;<\/p><p>According to the Snowman Logistics report, the net revenue increased by 14 percent year over year, from Rs 108 crore in Q2FY23 to Rs 124 crore in Q2FY24. Their revenue fell by 3 percent sequentially from Rs 128 crore in Q1FY24 to the current levels.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-939349860\"><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>In addition, the company&#8217;s net profit rose by 11.5 percent year over year, from Rs 2.6 crores in Q2FY23 to Rs 2.9 crores in Q2FY24. Their profit decreased by 12 percent on a quarterly basis from Rs 3.3 crore in Q1FY24 to the current levels.&nbsp;<\/p><p>Snowman Logistics is a small-cap company with a market capitalization of Rs 1,022 crores. The promoter owns 43 percent of the company, the general public owns 53.7 percent, foreign institutional investors own 2.3 percent, and domestic institutional investors own 1 percent.&nbsp;<\/p><p>The company has a low debt-to-equity ratio of 0.25, the net profit margin has increased in the last 3 years and it has a good current ratio of 1.76.&nbsp;<\/p><p>Snowman Logistics is in the business of temperature-controlled logistics, which includes, but is not limited to, storage, road transportation, and distribution of temperature-controlled products.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Sriram KV<\/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-3736630256\"><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>In Wednesday&#8217;s session, smallcap stock rose 4.2 percent to its 52-week high of Rs 62.20 from the previous close of Rs 59.65 after the company announced the purchase of 8,50,000 equity shares by the company promoter.&nbsp; According to the filling of Snowman Logistics, Gateway Distriparks Ltd promoter of the company purchased 8,50,000 equity shares which [&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":[11287,11286,14938,11285,948,936],"class_list":["post-114978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-gateway-distriparks-share-price","tag-snowman-logistics-latest-news","tag-snowman-logistics-promoter-buys-stake","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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