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DJ India's Flexi-Staffing Industry's Revenue May Grow by Double Digits in FY 2022-2023 -- Market Talk

· 02/05/2021 00:19

0519 GMT - India's flexi-staffing industry may witness double-digit revenue growth over FY 2022-2023 as the country's GDP could expand 10.6% this year, Goldman Sachs says. While labor demand recovers, flexi employees may act as "spring boards" for corporates, which could result in an increased reliance on staffing companies, with GS estimating the potential total addressable market for this industry could grow from $10.4 billion currently to $61.5 billion by 2030. The investment bank initiates TeamLease Services with a buy rating and target price of INR4,940 and Quess Corp. with a buy rating and target price of INR739. TeamLease Services shares rise 6.5% to INR3,335.00; Quess shares gain 2.6% to INR651.45. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 05, 2021 00:19 ET (05:19 GMT)

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