 "Quick Heal Technologies gains 7% as board considers share buyback")
Shares of Quick Heal Technologies gained 7 per cent to Rs 216 on the BSE in intraday trade on Thursday, after the company announced that its board will consider share buyback proposal on March 5, 2019.
The company on Wednesday, after market hours, said that a meeting of the board of directors of the company is scheduled to be held on March 5, 2019, to inter alia consider and approve the proposal for buyback of equity shares of the company.
The primary objective of a share buyback programme is to arrest the fall in the value of a stock by reducing the supply of the stock, which essentially pushes up the share price through a better P/E multiple.
The stock of IT software products firm hit a 52-week low of Rs 172 on February 18, 2019, has more than halved from its 52-week high level of Rs 354 on May 11, 2018.
At 09:26 am; Quick Heal Technologies was up 5.5 per cent at Rs 213 on the BSE. In comparison, the S&P BSE Sensex was up 0.40 per cent at 36,048. A combined 227,215 equity shares changed hands on the counter on the BSE and NSE so far.
The company on Wednesday, after market hours, said that a meeting of the board of directors of the company is scheduled to be held on March 5, 2019, to inter alia consider and approve the proposal for buyback of equity shares of the company.
The primary objective of a share buyback programme is to arrest the fall in the value of a stock by reducing the supply of the stock, which essentially pushes up the share price through a better P/E multiple.
The stock of IT software products firm hit a 52-week low of Rs 172 on February 18, 2019, has more than halved from its 52-week high level of Rs 354 on May 11, 2018.
At 09:26 am; Quick Heal Technologies was up 5.5 per cent at Rs 213 on the BSE. In comparison, the S&P BSE Sensex was up 0.40 per cent at 36,048. A combined 227,215 equity shares changed hands on the counter on the BSE and NSE so far.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%