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Quess Corp scales record high

Capital Market 

Quess Corp rose 8.72% to Rs 638.25 at 13:25 on BSE, with the stock extending recent gains.

Meanwhile, the S&P Sensex was down 3.48 points, or 0.01%, to 27,694.03.

On BSE, so far 4.65 lakh shares were traded in the counter, compared with an average daily volume of 3.14 lakh shares in the past two weeks. The stock hit a high of Rs 651.25 so far during the day, which is a record high for the counter. The stock hit a low of Rs 587.65 so far during the day. The stock hit a record low of Rs 452.40 on 14 July 2016. The stock was listed on the bourses on 12 July 2016.

The mid-cap company has equity capital of Rs 125.95 crore. Face value per share is Rs 10.

Shares of Quess Corp have risen 26.89% from its close of Rs 503 on 12 July 2016, the day of its debut on the bourses. It was a solid debut for this staffing firm, with the stock attracting a premium of 58.67% over the IPO price of Rs 317 per share.

The Quess Corp IPO ended on 1 July 2016 with an overwhelming response. The IPO was subscribed 144.50 times.

On a consolidated basis, net profit of Quess Corp rose 37% to Rs 24.69 crore on 35.7% rise in net sales to Rs 990.96 crore in Q1 June 2016 over Q1 June 2015.

Quess Corp provides comprehensive solutions including recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services.

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First Published: Thu, August 04 2016. 13:24 IST