Quess Corp zooms on getting nod to purchase additional 4.5% stake of Vedang
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Quess Corp is currently trading at Rs. 438.50, up by 11.30 points or 2.65% from its previous closing of Rs. 427.20 on the BSE.
The scrip opened at Rs. 436.00 and has touched a high and low of Rs. 453.95 and Rs. 436.00 respectively. So far 89628 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 578.75 on 07-Nov-2022 and a 52 week low of Rs. 337.45 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 453.95 and Rs. 418.25 respectively. The current market cap of the company is Rs. 6518.60 crore.
The promoters holding in the company stood at 56.67%, while Institutions and Non-Institutions held 27.12% and 16.20% respectively
Quess Corp has received an approval for purchase of 4.5% equity shares of Vedang Cellular Services (Vedang), a subsidiary of the Company from its erstwhile Promoter, Ashish Kapoor as per the Promoter's Put Option in the Shareholder's Agreement dated October 25, 2017 for Rs 6.05 crore as determined pursuant to the aforesaid Agreement. Consequently, the Company will hold 96.97% equity shares in Vedang upon completion of the aforementioned transfer of shares.
The Board of Directors at their meeting held on November 06, 2023, considered and approved the same. Vedang is a key player in the Telecom Network Operations & Maintenance space, present across 20 Telecom circles with strong industry relations, superior service offerings and deep technical capability.
Quess Corp is India’s leading business services provider and largest private-sector employer.
