Indian stock markets have been on a raging run since last one year with Sensex and Nifty returning about 17% while both the benchmark indices have risen in a range of 23-24% in last 21 months of time. A couple of dips have been observed in Indian equities since last 21 months: one over the pessimism on massive demonetisation activity, which later got recovered ad second being recent in the months of February and March led by the global sell-off and LTCG tax. During the same time under review, many stocks from small-cap to large-cap category have multiplied investors’ wealth several times.
We bring to you a mid-cap stock which had risen more than 210% in the last 21 months from its issue price during its IPO to buy and earn up to 30% on your money.
Shares of Quess Corp Ltd have risen three-fold in the last 21 months from the issue price. The stock of Quess Corp Ltd has surged as much as 236% to Rs 1,064.45 in the span of 21 months from the share price level of Rs 317 (issue price during IPO). Quess Corp Ltd launched its IPO in June 2016 and was successful in raising Rs 400 crore at the upper end of the price band of Rs 317. Interestingly, shares of Quess Corp Ltd were subscribed a whopping 144 times in the three-day bidding process.
Following a huge participation in the IPO of Quess Corp Ltd, shares of Quess Corp Ltd got a bumper opening on the stock market debut. Shares of Quess Corp Ltd advanced as much as 58% to list at Rs 500 on NSE.
The research and brokerage firm Motilal Oswal Securities Ltd has given a buy rating with a potential upside of 30% to a target price of Rs 1,300 from the recommendation price of Rs 1,006. We expect revenue of Rs 18.2 billion for Quess Corp in 4QFY18, signifying a growth of 47% YoY, Motilal Oswal Securities said in a report. Our PAT estimate is Rs 901 million, up 144% YoY, Motilal Oswal Securities added.
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