Quess Corp shares up 5 pc on TBSS stake buy deal

Shares of staffing firm Quess Corp today rose by 5 per cent after the company said it has signed a pact with Tata Sons and Tata Capital to acquire 51 per cent stake in Tata Business Support Services (TBSS) for up to Rs 153 crore in cash.
The scrip gained 4.77 per cent to settle at Rs 907.25 on BSE. During the day, it jumped 9.52 per cent to Rs 948.45.
On NSE, shares of the company went up by 5 per cent to end at Rs 908.70.
Tata Sons will hold the remaining 49 per cent stake in the company, Quess said in a filing to BSE yesterday.

The deal is to be completed by December 31, it added.
Quess Corp Chairman and MD Ajit Isaac said: "We are excited about our partnership with the Tata Group. This investment marks a significant milestone for Quess in its journey to build a world class business services platform."
TBSS is among India's premier customer experience management companies, with over 10 years of sectoral expertise, Quess Corp said.