Quick Heal Technologies share price added 4 percent in the early trade on March 12 after the company's board approved a buyback of its shares.
" .... board at its meeting held on March 10, 2021 approved the proposal to buyback upto 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," company said in the release.
On March 10, the share rallied 11.47 percent, or Rs 21, to close at Rs 204.10 on the BSE.
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.
At 0940 hours, Quick Heal Technologies was quoting at Rs 206.15, up Rs 2.05, or 1 percent on the BSE.
The share touched a 52-week high of Rs 216 on March 10, 2021 and a 52-week low of Rs 62.45 on March 19, 2020. It is trading 4.56 percent below its 52-week high and 230.1 percent above its 52-week low.
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