The Administrative & Investment Committee of Quess Corp Ltd at its meeting held today i.e. September 05, 2018, considered and approved acquisition of additional 3% equity by the Company in Heptagon Technologies Private Limited.
Heptagon Technologies Private Limited ("Heptagon") is a niche software Company working with machine learning and automation technologies.
Quess has initiated large scale digital transformation of its business processes and need to access technical talent to successfully implement and maintain technology driven business outcomes.
Further, digitalization and mobility platform development is a growing market in India with business across the country embarking on digital transformations.
The Investment is also expected to generate synergies in the form of,
- Cost reduction at Quess' IT staffing solutions.
- Cost reduction in Quess' digital transformation projects.
- Sales for IT solutions to be enhanced through Quess' IAM business.
Total Investment will be INR 1.50 Cr for acquiring additional 3% stake.
Shares of Quess Corp Ltd was last trading in BSE at Rs.926.35 as compared to the previous close of Rs. 941.55. The total number of shares traded during the day was 6988 in over 610 trades.
The stock hit an intraday high of Rs. 944 and intraday low of 918. The net turnover during the day was Rs. 6485765.