Yesterday, Quess Corp had hit a new 52-week low at Rs.416.20 and today, it is the top gainer on the BSE, going up almost 18.5% to Rs.521.
The reason for this change in mood on the counter? The company announced today morning that e-commerce giant Amazon has invested Rs.50 crore in QDigi, an after-sales support company for electronic products. QDigi is a subsidiary of Quess Corp.
Apart from the big positive of Amazon investing, it did so at a price of Rs.676/share, which is almost 50% higher than Friday’s trading price of Rs.430.
Post this, Amazon will hold 0.51% in QDigi.