TeamLease up over 11%

TeamLease Services opened 3% higher at Rs.4035, rising to an intraday high at Rs.4355, up over 11% and volumes are up 2 times. Its 20% UC for the day is at Rs.4706.50 while 52-week high is at Rs.5544.

The company said that its hiring intent touched its zenith in the October-December quarter, rising to 41%. This is a 3% gain over the July-September quarter. 

The company said that although the corporate workforce demand hasn't touched the pre-pandemic mark, the continuous quarter-on-quarter increase in hiring intent, as mapped by TeamLease Services, points to significant business realignment to adjust to digital transformation needs. The workforce number is expected to expand by 430 million approximately by Dec 2021; this reflects the positive economic sentiment and consumer confidence, while also corroborating India Inc's pent-up talent acquisition requirements.

The blue-collar hiring is seeing huge demand to meet increased sales and delivery expectations and warehousing for streamlined supply chain management for eCommerce and retail. Hyderabad, Pune, and Chandigarh are top non-metro cities to hire in Q3. Tier-2 cities show 41% intent to hire followed by Tier-3 cities at 26%.