Shares of Quess Corp Ltd surged 7% to trade at ₹716.95 on December 17 after brokerage firm Antique initiated a ‘Buy’ rating on the stock with a target price of ₹1000. The sharp upside signals a potential gain of over 39% from the current levels.
Antique highlighted that Quess Corp is positioned as a key beneficiary of strong hiring trends across multiple industry segments. The brokerage noted that factors such as the increased formalization of the economy, labor reforms, and the rise of the gig economy are driving structural growth in the staffing sector.
Quess is also set to gain from India’s capex push through PLI schemes, greater focus on manufacturing under the China+1 strategy, and low staffing penetration, particularly in Tier II cities. These factors collectively position Quess to capitalize on robust hiring demand and economic formalization.
Antique projects Quess Corp’s revenue to grow at a 12%-14% CAGR over FY24-FY27, driven by these tailwinds. The brokerage’s bullish outlook comes amid a favorable macro environment for employment growth and a rise in opportunities across formal and informal work segments.
At its current price of ₹716.95, the stock has risen sharply from its previous close of ₹670.05, reflecting investor optimism following the positive report. Quess Corp’s strong fundamentals and growth prospects in staffing and workforce solutions have strengthened its market positioning.
With a target price of ₹1000, Antique’s note has provided a significant sentiment boost to the stock, suggesting further upside potential. Investors will be closely monitoring the company’s execution and financial performance to sustain this momentum.
