Quess Corp gains 4% on sale of HR compliance biz

Share price of Quess Corp gained 4 percent intraday on September 11 on sale of HR compliance business.

Coachieve Solutions, a wholly-owned subsidiary Quess Corp approved the sale of HR compliance business as a going concern on a slump sale basis to AIISec Technologies, step-down subsidiary of Quess Corp, for a lump sum cash consideration.

However, Allsec Technologies accepted the recommendations of the audit committee for purchase of HR Compliance Business of Coachieve Solutions as a going concern on a slump sale basis.

The company received cash consideration of Rs 16.80 crore from sale.

At 1220 hrs, ALLSEC Technologies was quoting at Rs 268.70, up Rs 9.90, or 3.83 percent and Quess Corp was quoting at Rs 460, up Rs 4.75, or 1.04 percent on the BSE.

Source : http://tiny.cc/0gxjcz

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