Quick Heal Technologies share hit 52-week high in early trade today after board of the company approved buyback of its shares. Share of Quick Heal Technologies rose up to 4.5% to Rs 213.85 against previous close of Rs 204.10 on BSE. The stock opened 2.08% higher at Rs 210.
On BSE " .... board at its meeting held on March 10, 2021 approved the proposal to buy back up to 63,26,530 equity shares of the company, being 9.85 percent of the total paid-up equity share capital of the company for an aggregate amount not exceeding Rs 1,550 million at Rs 245 per equity share," the company said.
The buyback is subject to the approval of the members by means of a special resolution through a postal ballot. The board has approved the constitution of the buyback committee.
Quick Heal Tech share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has gained 138.42% in one year and risen 18.24% since the beginning of this year. In a month, the stock has risen 30.21%.
The scrip hit a 52-week high of Rs 216 on March 10, 2021 and a 52-week low of Rs 62.45 on March 19, 2020.
Meanwhile, benchmark indices continued to trade higher on Friday, tracking positive cues from global peers. Sensex was trading 380.19 points or 0.74 per cent higher at 51,659.7, and Nifty stood at 15,283.6 up by 108.8 points or by 0.72 per cent. Outperforming the benchmark indices, the BSE Midcap and Smallcap indices were up by 0.75 per and 1 per cent, respectively.