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Quick Heal Tech jumps on bagging US patent for anti-ransomware technology

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Quick Heal Technologies was up 2.36% to Rs 167.30 at 09:51 IST on the BSE after the company said that it has been granted a patent for its anti-ransomware technology by the United States Patent and Trademark Office.

The announcement was made after market hours on Friday, 5 July 2019.

Meanwhile, the S&P BSE Sensex was down by 428.06 points, or 1.08% to 39,085.33.

On the BSE, 3471 shares were traded in the counter so far compared with average daily volumes of 9722 shares in the past two weeks. The stock had hit a high of Rs 169.95 and a low of Rs 166.10 so far during the day. It hit a 52-week high of Rs 287 on 3 September 2018 and a 52-week low of Rs 150.40 on 18 June 2019.

Quick Heal Technologies said that it has become the first Indian company to indigenously develop and be awarded a patent for anti-ransomware technology.

Quick Heal Technologies further added that Seqrite, the enterprise arm of Quick Heal Technologies, has also launched a proprietary, artificial intelligence (AI)-led threat hunting engine - GoDeep.AI - to proactively hunt down existing and emerging threats to provide digital security to its customers.

Quick Heal Technologies' net profit fell 45.1% to Rs 26 crore on a 27.9% fall in the net sales to Rs 85.35 crore in Q4 March 2019 over Q4 March 2018.

Quick Heal Technologies is one of the leading providers of IT security software products and solutions in India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 08 2019. 10:00 IST