This smallcap staffing firm rallies over 6% in trade on Friday: Here's why

Quess Corp shares in Friday's trade zoomed over 6 per cent in early trade to the day's high price of Rs 674.5 per share. The sharp spurt in the company's share price came following the NCLT's approval of a three-way demerger in the staffing and recruitment firm.

Last year in February, the company announced its plans to demerge the company's diversified into 3 businesses namely Quess Corp, Digitide Solution and Bluspring Enterprises.

this is to inform that the Hon’ble National Company Law Tribunal (“NCLT”), Bengaluru Bench has passed the order approving the Composite Scheme of Arrangement between Quess Corp Limited, Digitide Solutions Limited and Bluspring Enterprises Limited and their respective shareholders and creditors (“Scheme”), read the company's filing with the exchanges.

The Scheme shall be effective upon filing of a certified copy of the order of the NCLT with the Registrar of Companies, Bengaluru, Karnataka and we will intimate the same in due course. We request you to take the above information on record and treat this as compliance under Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it added,

Quess Corp share price performance

In the last one year, shares of Quess Corp have gained 29 per cent, while in the last 3 years it has gained 17 per cent.