ICICI Securities On Business Service Sector - Springboards On Job Market Rebound; Regulatory Tailwinds
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ICICI Securities Report
Business services stocks like Quess Corp Ltd., TeamLease Services Ltd. remained our high-conviction ideas over the previous six months and Security and Intelligence Services India Ltd. for around a month.
In line with our expectations, these stocks delivered stellar returns over the respective horizons (up to approximately three times returns over six month versus ~48%-59% benchmark return; up to 25% over one month versus 12%-13% benchmark return).
Partly, this was led by the strong comeback in the job market. After dismal months of April-May, which witnessed significant job losses, employment staged a steady rebound.
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