Negative news for Quess.
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So was just going through the stock edge application which after the recent update shows alot of information one out of which is holdings of Superstar investor and Institutional investors both FIIs and DIIs. It seems like many of them have increased holding or taken a fresh position in Quess Corp in his quater according to shareholding data.
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Can you please share screenshot?
Foreign promoter group
Franklin smaller companies mutual fund
Screenshot_20200521-015342_StockEdge|236x500 !
Malabar select fund
Screenshot_20200521-015355_StockEdge|236x500
Sundaram midcap fund
Among others Aditya Birla sun Life tax relief and Icici pru long term equity tax saving also increased shar holding marginally
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The stock corrected almost ~75 per cent from the pre-Covid-19 level on concerns around a severe impact on: a) general staffing and collections/receivables, b) liquidity position, and c) the potential legal liabilities in outcome-based businesses in the event of massive employee lay-offs. However, we understand these concerns were exaggerated as the business / cash collections (both mark-up and outcome based) did not witness any major dislocation over March–April. As the economy prepares for a gradual re-opening and enterprises look to dodge supply disruption, the company/sector appears to have already passed the peak of uncertainty.
Reduced labour market rigidity should increase the formality of the workforce, in turn driving demand for flexi staffing. We expect Quess / TeamLease / SIS Security to be the biggest long-term beneficiaries of these reforms.
Multinational companies and large Indian corporates with stronger balance sheets have indicated to Quess that they may go ahead with at least 70% of their planned hirings. Isaac sees that number possibly revised in the quarter starting July. However, such firms account for just about 15% of India’s workforce.
“Companies have already started conversations with us for hiring requirements in June and July, and the sense we are getting is that the worst of the job losses are behind us,” Ajit Isaac, chairman of Quess Corp. said in an interview on Tuesday. “I can see the bend in the road, and the bounce back in hiring in sectors like financial services, health care, and last-mile logistics will be sharper.”
No wonder the script hit two back-to-back upper-circuits!
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With the new FDI policy and talks of companies moving from China to India , there might be many MNC’s coming to India (chances oblique right now, but if things happen in right manner).
Many MNC’s do not want to take the headache relating to labour laws and policies and branch out their HR/Payroll division to external agencies.
With this there might be something for Quess Corp in the future. Any advice on the same by the senior members?
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Performance - press release
Performance Presentation -
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The below is most important slide from the presentation.
Experts out there…pls comment on this. I think management has used these bad times to write off almost everything.
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Not sure about the source; but also came across a news that they’ve completed 100% acquisition of Terrier Security Services
I don’t think its 100% they’ve just increased their stake by 25% to exsisting … That is what I have read today.
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Suggest you not to go scouting for marquee investors. I have burnt my fingers in Quests. Pls do proper analysis and then invest
Moneycontrol.com: Buy Quess Corp; target of Rs 360: Motilal Oswal.
https://www.moneycontrol.com/news/business/stocks/buy-quess-corp-target-of-rs-360-motilal-oswal-5332081.html
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This guy has extreme buy valuation target!. Look some of their past recommendations they gave extreme buy target for PCJ, Manapasand, Vakragee, etc!!
MOSL - claiming that their research is based on strong fundamental (Q - G - L - P), however, i stopped reading and investing in their research report and recommendation after looking at their quality of research in above recommendations !!
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Agreed.
Off late MOSL lost most of the reputation due to very bad calls.
But that makes them more prudent afterwards. I think that’s natural.
Coming to Quess, i couldn’t find any old recommendation from them when there is bubble in Quess. Finally the bubble went burst. Now there is decent margin of safety. Only thing is Management quality is not given 100 marks due to various missteps.
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Agree! Raamdeo Agrawal rued about those decisions publicly on many forums. He admitted that his team has become more conscious of promoter / management shenanigans after those fateful incidents.
Regardless, Quess had gone to no-brainer levels before the beginning of current strings of upper-circuits. However, one should ignore the price targets and use those analyst reports for easy understanding of results update and con-call outcomes.
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Very big Opportunity for Quess Corp if it really plays out as planned.
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Promotor Ajit Issac has been continuously buying shares from the Open Market from past 2-3 months (way above the current price as well)
Latest being on June 5th
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