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Quess Corp gains on acquisition pact

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Quess Corp rose 1.16% at Rs 897 at 12:42 on after the company said it has signed the definitive agreements to acquire 46% equity in Heptagon Technologies.

Meanwhile, the S&P Sensex was down 129.47 points or 0.41% at 31,161.27.

On the BSE, 2,999 shares were traded on the counter so far as against the average daily volumes of 6,393 shares in the past one quarter. The stock had hit a high of Rs 919.80 and a low of Rs 892 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 452.40 on 14 July 2016.

The stock had outperformed the market over the past one month till 22 June 2017, advancing 8.37% compared with the Sensex's 2.35% rise. The stock had also outperformed the market over the past one quarter, gaining 28.57% as against the Sensex's 7.28% rise.

The large-cap company has equity capital of Rs 126.79 crore. Face value per share is Rs 10.

Quess Corp signed definitive agreements to acquire 46% equity in Heptagon Technologies on 21 June 2017. The transaction entails a cash consideration of Rs 9.77 crore.

Separately, Quess Corp announced that on 21 June 2017 Quesscorp Holdings, a wholly owned subsidiary of the company has entered into definitive agreement to acquire 51% shareholding in Comtel Pro, a private limited company incorporated under the laws of Singapore. The announcement was made after market hours yesterday, 22 June 2017.

On consolidated basis, Quess Corp's net profit remained almost same at Rs 27.64 crore in Q4 March 2017 compared to a year ago quarter. Net sales rose 12.6% to Rs 1122.09 crore in Q4 March 2017 over Q4 March 2016.

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.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 23 2017. 12:43 IST