India's Teamlease gains as Investec says new labour laws will lower costs

Teamlease Services

01/12/2025 07:16

** Shares of Teamlease Services TLSV.NS climb 2.8% to 1,693.40 rupees

** Investec analysts say India's labour law revamp to benefit staffing firms over medium-to-long term

** Brokerage says simplified compliance norms in new labour laws to help reduce administration costs for firms like TLSV ("buy," PT: 2,230 rupees)

** Adds, new laws to potentially boost formalisation of Indian workforce, which would expand staffing firms' revenue net

** Analysts tracking TLSV rate it "strong buy" on average; median PT is 2,242,50 rupees - data compiled by LSEG

** TLSV down ~43% so far this year vs rival Quess Corp's QUEC.NS 31% slump

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))