Quick Heal is newsmaker

Quick Heal Technologies is very much a news maker today. The stock price went up over 9.5% to Rs.221.50 and remains around the same levels.

The stock price has jumped up after the company yesterday, after market hours, said that its Board will be meeting on the 5th March 2019 to consider and approve the proposal for buyback of equity shares.

Ten days ago the stock price had hit a new low and those on the Street say that the main aim of the buyback is to prop up the falling share price.

Promoters currently hold 72.33% stake, which was down from 72.40% that they held in Q3.