TeamLease Services hits record high; stock surges 50% in two months
The stock hit a record high of Rs 3,042, up 12% on the BSE, surpassed its previous high of Rs 2,948 touched on April 25, 2018 in intra-day trade.
 "TeamLease Services hits record high; stock surges 50% in two months")
premium
Shares of TeamLease Services hit a record high of Rs 3,042 per share, up 12% on the BSE in otherwise subdued market. The stock surpassed its previous high of Rs 2,948 touched on April 25, 2018 in intra-day trade.
In past two months, the stock rallied 50% from Rs 2,033 after the Reserve Bank of India (RBI) raised the investment limit for foreign portfolio investors (FPIs) in the company to 75%. On comparison, the S&P Sensex was up 3.35% during the same period.
According to March 2018 shareholding pattern data filed by TeamLease Services reveals that, FPIs increased their stake in the company by 6.67 percentage points to 32.46% from 24.64% at the end of December 2017 quarter. However, mutual funds holding in the company declined from 14.7% to 5.81% during the quarter.
TeamLease Services is one of India's leading providers of human resource services in the organized segment delivering a broad range of human resource services to various industries.
At 01:47 pm; the stock was trading 6% higher at Rs 2,865, as compared to 0.04% decline in the S&P BSE Sensex. A combined 84,766 shares changed hands on the counter on the NSE and BSE.
In past two months, the stock rallied 50% from Rs 2,033 after the Reserve Bank of India (RBI) raised the investment limit for foreign portfolio investors (FPIs) in the company to 75%. On comparison, the S&P Sensex was up 3.35% during the same period.
According to March 2018 shareholding pattern data filed by TeamLease Services reveals that, FPIs increased their stake in the company by 6.67 percentage points to 32.46% from 24.64% at the end of December 2017 quarter. However, mutual funds holding in the company declined from 14.7% to 5.81% during the quarter.
TeamLease Services is one of India's leading providers of human resource services in the organized segment delivering a broad range of human resource services to various industries.
At 01:47 pm; the stock was trading 6% higher at Rs 2,865, as compared to 0.04% decline in the S&P BSE Sensex. A combined 84,766 shares changed hands on the counter on the NSE and BSE.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%