The shares of Quick Heal Technologies Ltd surged more than 18% till 12.30 pm and were trading at Rs 197 levels. The shares opened at Rs 189.55 as against their previous close of Rs 166. In the last month, the stock has added more than 36% as compared to the which has gained only 2.86%.
The stock rose on the news of the board that is considering a buyback of shares. The company said its board will meet on Thursday, July 21, 2022, to consider and approve financial results for the June quarter and buyback of the fully paid up equity shares of the company.
The stock reached its 52-week low of Rs 141 in June 2022. Currently, it is trading 35% higher than its low. Last year in August, the shares of the company scaled to reach its 52-week high of Rs 318.
Quick Heal Technologies, is an Indian multinational cybersecurity software company. The company develops security software for consumers, servers, cloud computing environments, and small and medium enterprises and sells products directly to customers or through its partner channel.
In FY22, the company earned a revenue of Rs 341 Crores which was an increase of 2.6% from Rs 333 Crores which it earned a year before. Their net profit declined to Rs 83 Crores from Rs 106 Crores in FY21.
