Quess Corp gains on acquiring residual 30% stake in Conneqt
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Quess Corp is currently trading at Rs. 598.35, up by 10.80 points or 1.84% from its previous closing of Rs. 587.55 on the BSE.
The scrip opened at Rs. 594.00 and has touched a high and low of Rs. 612.00 and Rs. 594.00 respectively. So far 2045 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 807.00 on 25-Feb-2021 and a 52 week low of Rs. 165.40 on 19-May-2020.
Last one week high and low of the scrip stood at Rs. 670.00 and Rs. 575.00 respectively. The current market cap of the company is Rs. 8803.88 crore.
The promoters holding in the company stood at 55.25%, while Institutions and Non-Institutions held 31.59% and 13.16% respectively.
Quess Corp has acquired residual 30% stake in Conneqt Business Solutions (Conneqt) pursuant to the Put Option notice by Tata Sons (Tata). With this transaction, Conneqt will become a wholly owned subsidiary of Quess.
The company had acquired 51% of Conneqt in November 2017 and further increased its stake in Conneqt from 51% to 70% in May 2019 via infusion of primary capital, which was used to fund the acquisition of Allsec Technologies (Allsec) a listed CLM and HRO services provider.
Quess Corp is one of India’s leading integrated business services providers focused on emerging as the preferred partner for handling end-to-end business functions of its clients.
