Quess Corp gains after stellar Q2 result

Quess Corp rose 3.6% at Rs 875 at 14:53 IST on BSE after consolidated net profit surged 366.77% to Rs 140.59 crore on 25.18% rise in net sales to Rs 1273.95 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours yesterday, 25 October 2017.

Meanwhile, the S&P BSE Sensex was up 42.43 points or 0.13% at 33,084.93.

On the BSE, 26,000 shares were traded on the counter so far as against the average daily volumes of 8,502 shares in the past one quarter. The stock had hit a high of Rs 926 and a low of Rs 870 so far during the day. The stock had hit a record high of Rs 1,068 on 8 June 2017 and a record low of Rs 516 on 9 November 2016.

The stock had underperformed the market over the past one month till 25 October 2017, rising 2.54% compared with 4.57% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 4.56% as against Sensex's 2.04% rise. The scrip, however, outperformed the market in past one year, surging 43.51% as against Sensex's 18.70% rise.

The large-cap company has equity capital of Rs 138.33 crore. Face value per share is Rs 10.

Quess Corp announced after market hours yesterday, 25 October 2017 that the company has signed a definitive agreement to acquire 70% stake in equity in Vedang Cellular Services with an investment upto Rs 40 crore. Vedang is in the business of Telecom Network Optimization and Installation of Active Components in the Telecom Network. The acquisition is expected to be completed on or before 30 November 2017.

Quess Corp is India's leading integrated business services provider. It serves customers across four segments namely, global technology solutions, people & services, integrated facility management and industrials.

Powered by Capital Market - Live News