Buy Quess Corp, target price Rs 625: IIFL

Buy Quess Corp, target price Rs 625:  IIFL

IIFL has buy call on Quess Corp with a target price of Rs 625. The current market price of Quess Corp Ltd. is Rs 567.

Quess Corp Ltd., incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 8370.33 Crore) operating in Services sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 2615.07 Crore, up 8.53 % from last quarter Sales of Rs 2409.43 Crore and down -1.33 % from last year same quarter Sales of Rs 2650.25 Crore Company reported net profit after tax of Rs 49.91 Crore in latest quarter.

Investment Rationale
Stock has given a Golden Crossover (89/200 Dema) and a consolidation breakout on the daily chart.

Promoter/FII Holdings
Promoters held 55.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 17.4 per cent, DIIs 13.9 per cent and public and others 13.4 per cent.

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