Quess Corp Stock Jumps 13% After Announcing Demerger Plan

Company Sales Company sales for quess

Posted by pallavi on 2024-11-29 17:57:37 |

Share: Facebook | Twitter | Whatsapp | Linkedin Visits: 74

---

Quess Corp's stock surged by 13% on the morning of February 19 following the company's announcement of a demerger plan aimed at unlocking shareholder value. The proposal, which was approved during the board meeting on February 16, involves splitting the company into three independent listed entities: Quess Corp, Digitide Solutions, and Bluspring Enterprises. Quess will focus on workforce management, while Digitide will handle business process management, Insurtech, and HR outsourcing, and Bluspring will take over facility management, industrial services, and investments. Under the demerger scheme, shareholders of Quess will receive one additional share in each of the new companies for every share they hold in Quess. By 9:36 am, Quess Corp's stock was trading 11% higher at Rs 556.05 on the National Stock Exchange (NSE). The stock has risen 48% in the past year, outperforming the benchmark Nifty, which saw a 23% increase during the same period.

Go!