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Quick Heal Technologies shares zoom 20%; here’s why

Quick Heal Technologies shares zoom 20%; here’s why

Quick Heal Technologies shares zoomed 19.98 per cent to Rs 200.25 against the previous close of Rs 166.90 on BSE. It closed at the same level.

Quick Heal Technologies shares were trading higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages. Quick Heal Technologies shares were trading higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

Shares of Quick Heal Technologies rose 20 per cent today after the firm said its board would consider a buyback issue in its next meeting. Quick Heal Technologies stock zoomed 19.98 per cent to Rs 200.25 against the previous close of Rs 166.90 on BSE. It closed at the same level.

It also touched an intraday low of Rs 185 on BSE. Quick Heal Technologies shares were trading higher than 5 day, 20 day, 50 day and 100 day moving averages but lower than 200 day moving averages.

Total 1.22 lakh shares of the firm changed hands amounting to a turnover of Rs 2.40 crore on BSE. The market cap of the firm rose to Rs 1,161 crore on BSE. The stock hit a 52-week high of Rs 319.90 on August 2,2021 and a 52-week low of Rs 143.95 on June 20, 2022.

The board will consider a proposal for buyback of shares in its meeting to be held on July 21. It will also announce its June quarter earnings on the same day. The buyback, if cleared, will be the third such issue by the company.

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Before this, the company announced share buybacks in 2021 and 2019. In Q4 of the previous fiscal, the firm reported a 29.30 per cent fall in net profit to Rs 28.09 crore against Rs 39.71 crore for the quarter ended March 31, 2021. Sales fell 1.5 per cent to Rs 103.71 crore in Q4 against Rs 105.29 crore in the corresponding quarter of the previous fiscal.

The company reported earnings per share (EPS) of Rs 4.82 for quarter ended March 31, 2022 compared to Rs 6.18 for the quarter ended March 31, 2021. For the fiscal ended March 2022, the firm reported a 22.24 fall in net profit to Rs 83.19 crore against Rs 106.98 crore for the fiscal ended March 31, 2021.

However, sales rose 2.66 per cent to Rs 341.90 crore in the last fiscal against Rs 333.04 crore for the fiscal ended March 2021.

Quick Heal Technologies is an India-based information technology (IT) security solutions company. The company is engaged in the business of providing security software products. The company caters to both domestic and international market. Its segments include Retail, Enterprise and Government, and Mobile.

Its portfolio of cloud-based security and advanced machine learning enabled solutions stop threats, attacks and malicious traffic before it strikes.