The global investment firm acquired 66,00,000 shares of the company at Rs 384.99 apiece today, aggregating to Rs 254 crore.
Another promoter Ajit Isaac acquired 65,000 shares or 0.04% stake in the company through the open market.
As of December-end, Fairbridge Capital held 29.61% stake in Quess Corp, while Ajit Isaac held 11.42% stake. The total promoter holding in the company stood at 51.90%.
The stake acquisition by the promoter helped shares of Quess Corp snap their 3-day losing streak and test a 1-month high of Rs 385. The stock ended 4% higher at Rs 357.50 on the NSE.
Through separate deals, a mutual fund house, foreign portfolio investor, and life insurance company sold stake in Quess Corp.
Aditya Birla Sun Life Mutual Fund sold 11,36,091 shares or 0.8% stake at Rs 383.79 a share. The fund house held 3.2% stake in the staffing services provider as of December end.ICICI Prudential Life Insurance Company sold 13,49,257 shares or 0.9% stake at Rs 385 a share. The life insurance major held 3.36% stake in the company at the end of December quarter.
Foreign portfolio investor Smallcap World Fund Inc sold 28,46,013 shares or 1.9% stake at Rs 385 a share. The FPI held 4.34% stake in Quess Corp as of December-end. .
Year-to-date, shares of Quess Corp have fallen by more than 13% and tested its 52-week low of Rs 337.55 on March 28.
For the quarter ended December, Quess Corp reported a 5% year-on-year rise in the consolidated net profit to Rs 88 crore, and a 21% growth in revenue to Rs 4,466 crore.
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