Addressing the crowd gathered in the ballroom of Bengaluru’s Royal Orchid Hotel on Wednesday, 51-year-old Ajit Isaac seemed tentative. This wasn’t usual for the normally self-assured Isaac, the chairman and managing director of staffing firm Quess Corp. But these weren’t ordinary times. Isaac was addressing an annual meeting of the company’s shareholders at a time when the company’s shares were in a downward spiral.
Quess Corp was having its worst month ever. The stock is down 22% in July. And as the street wisdom goes, the stock market knows when something is off.
Quess and the chasm between acquisitions and execution
India’s largest staffing firm is an acquisition machine. But with its stock plummeting in recent months, the markets seem to think Quess has bitten off more than it can chew
In its 12-year history, temporary staffing company Quess has acquired 23 companies, leading to rapid topline growth
July, however, has been its worst month on the stock market since it went public in 2016
Doubts about its ability to turn job portal Monster around and some questionable loans to its related parties have diminished its appeal
Ajit Isaac, the chairman of Quess Corp, is a consummate dealmaker. Now he must show that he's equally adept at turnarounds