By CNBCTV18.com Jun 12, 2023 11:10:07 AM IST (Published)
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The leading staffing solutions company Quess Corp Ltd has been under radar because of significant movement in its stock price in recent days. Though the stock is currently trading 66 percent lower from its all time high of Rs 1,300 apiece. The shares have shown an upward movement in the last five of the six sessions.
The stock price of Quess Corp has climbed nearly 18 percent in the last one month. Moreover, the stock has seen upward movement in six out of the last seven trading sessions.
Market analysts believe that Quess CorpQuess Corp looks forward to reversing a long period of underperformance. The staffing services firm has given double-digit revenue growth guidance for the near-to-medium term.
Further, the company's management believes that the consolidated margin is likely to improve with the portfolio mix change. Moreover, the operating profit margin or EBITDA margin is expected to improve by 100 basis points to 4.5 percent in the medium term.
Interestingly, the stock has corrected 65 percent from the near peak, with underperforming peers and now trading at attractive valuations of 14 times FY25 earnings per share (EPS), according to market observers.
Quess Corp provides advanced solutions for end-to-end recruitment, general staffing and executive hiring.
In March, Fairfax acquired a 4.45 percent stake in Quess Corp through the reverse book-building process. With this, its overall holding reached 34.6 percent in the staffing services company.
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