Quess Corp shares rise after company signs deal with Gujarat Technical University

Quess Corp shares gained on Thursday, continuing to rise for a fourth straight session, after the business solutions provider said it had signed an agreement with Gujarat Technical University (GTU) for skill assessment, employment enablement, entrepreneurship development programme and technology integration. The stock of Quess Corp strengthened by as much as Rs 12.1, or 2.3 per cent, to Rs 527.4 apiece on BSE.

At 2:07 pm, Quess Corp shares wer up 0.9 per cent for the day at Rs 520 apiece on the bourse.

As part of the memorandum of understanding (MoU), Quess Corp will operate centres of excellence at multiple locations and establish a framework to forecast the demands in technology and industry areas, based on supply from formal education and similar ecosystems, it said in a regulatory filing post-market hours on Thursday.

The focus would be on services such as skill assessment, employment enablement, entrepreneurship development programs, and technology integration to bridge the skill gap of the employee in line with industry requirements, the company said.

“This collaboration is not just about the present, it is about building a strong foundation for the future. This is also how our government, industry, and academia can come together to bridge the skill gap and create a talent pool that is ready to meet the growing demands" said Guruprasad Srinivasan, ED and CEO, Quess Corp.

"Through the Center of Excellence, skill assessment, and employment enablement programs, we aim to empower students with marketable skills and connect them with the right job opportunities within Gujarat's thriving industrial ecosystem," he added.

Should you buy, sell or hold Quess Corp shares now?

Earlier in the day, Zee Business analyst Ashish Chaturvedi recommended buying Quess Corp shares for a target of Rs 540 with a stop loss at Rs 500.

What does Quess Corp do?

Quess provides a host of technology-enabled staffing and managed outsourcing services across processes such as sales and marketing, customer care, after sales service, back office operations, manufacturing, facilities and security management, HR and F&A operations, and IT and mobility services.

Quess Corp has a team of 5,47,000 employees serving 3,000 clients across India, North America, APAC, and the Middle East, as of September 30, 2023, it said in a statement.

Quess Corp shares: Past performance

Quess Corp shares have rewarded investors with a return of almost 31 per cent in the past year, sharply outperforming headline index Nifty50’s 22.5 per cent rise.

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.