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Quess Corp soars on getting nod to increase stake in Vedang Cellular Services

Quess Corp is currently trading at Rs. 491.55, up by 17.55 points or 3.70% from its previous closing of Rs. 474.00 on the BSE.

The scrip opened at Rs. 476.80 and has touched a high and low of Rs. 493.35 and Rs. 476.80 respectively. So far 9364 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 819.85 on 27-Mar-2019 and a 52 week low of Rs. 386.85 on 30-Jul-2019.

Last one week high and low of the scrip stood at Rs. 493.35 and Rs. 461.70 respectively. The current market cap of the company is Rs. 6961.09 crore.

The promoters holding in the company stood at 71.61%, while Institutions and Non-Institutions held 20.44% and 7.95% respectively.

Quess Corp has received approval for increasing its stake in Vedang Cellular Services by 18.71%, Subsidiary of the Company. Consequently, the company will hold 88.71% shares in Vedang on completion of the acquisition of shares. The indicative time period for completion of the acquisition is December 31, 2019. With the increasing control over operations will lead to enhanced alignment to the company overall strategy. The Board of Directors of the company at their meeting held on October 30, 2019, approved the same.

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.

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