Quess Corp in green
By Ruma Dubey
about 6 months ago
Yesterday, after market hours, Quess Corp, an HR solutions company, announced that it will divest its stake in digital risk and compliance services company, Simpliance Technologies to HR compliance firm Aparajitha Corporate Services.
This stake is being sold for an enterprise value of Rs 120 crore on a cash and debt basis.
The company said that a strategic investment of Rs 4.5 crore for its total 53% shareholding made between October 2016 and August 2018 has yielded an enterprise value of Rs.120 crore.
This has cheered up the stock, which rose over 3% to hit an intraday high at Rs.647.45. Its 52-week high, hit last Nov, stands at Rs.966.