Stocks

Quess Corp shares jump nearly 6%

Reuters Jan 25 | Updated on January 27, 2018

Shares of Quess Corp gained as the company's third-quarter profit more than doubled to Rs 70.13 crore ($11.04 million), with margins rising to 4.41 per cent from 3.16 per cent last year. The stock jumped as much as 5.8 per cent, its biggest intraday percentage gain since December 28.

According to Motilal Oswal, Quess Corp's long-term prospects stand bright, given "high-growth opportunities, aggression shown on expansion, and flawless execution". It has maintained “buy” rating on the stock.

Seven of eight brokerages have rated the stock as “buy” or higher, and one “sell"; their median price target is Rs 1,250, according to Thomson Reuters Eikon data. Up to Wednesday's close, the stock had more than doubled since market debut in July 2016.

Published on January 25, 2018

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