Quick Heal zooms 8%, hits 52-wk high as board to consider buyback proposal




Shares of Quick Heal Technologies, on Friday, soared up to 8 per cent to a fresh 52-week high of Rs 187 on the National Stock Exchange (NSE), in an otherwise weak market, after the company said its board will consider a share buyback on March 10, 2021.

The security software provider’s stock has advanced 9.1 per cent in the last one month (till Thursday) as compared to a 1.2 per cent rise in the benchmark Nifty50 index.


is one of the leading providers of IT security and data protection solutions with a strong footprint in India and an evolving global presence.



In the December 2020 quarter, Quick Heal’s consolidated net profit declined 24.3 per cent year-on-year (YoY) to Rs 13.4 crore. Its total revenue, however, grew 6.3 per cent YoY to Rs 69.8 crore in the quarter under review.


“On the R&D front, with the appointment of industry veterans like Sanjay Agrawal and Bibhuti Kar, we have accelerated new product development efforts to strengthen our enterprise business under ‘Seqrite’,” Managing Director and CEO Kailash Katkar said.


At 1:30 PM, the stock was trading 5.34 per cent up at Rs 181.45 as compared to 0.3 per cent decline in the benchmark Nifty50 index. A total of 23.9 lakh shares have changed hands on the NSE and BSE, combined, so far.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link