Stocks

Quess Corp surges on Amazon investment

Reuters July 12 | Updated on July 12, 2019 Published on July 12, 2019

Shares of business services provider Quess Corp Ltd jump as much as 9.1 per cent to one-week high of ₹479.9. At 12.20 pm, the stocks of Quess Corp were trading 9.81 per cent higher at ₹483.25.

Amazon.com's investment arm will invest ₹510 million ($7.44 mln) in the firm. The company will issue 754,437 shares to Amazon.com NV Investment Holdings LLC at ₹676 per share and the investor will hold 0.51 per cent stake in Quess Corp.

Quess' stock marks sharpest intra-day jump since January 22. Around 1.4 million shares change hands by 0608 GMT, against 30-day average of 417,790 shares. 9 of the 11 analysts covering the stock have a “buy” or ”strong buy” rating, 1 has “hold” while 1 rates it at “strong sell”; median PT is ₹830, according to Refinitiv data.

The stock was down 33.4 per cent this year as of last close ($1 = 68.5450 Indian rupees)

Published on July 12, 2019

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.