Stocks under Rs 200 are in focus as company approves green/renewable energy implementation project and project to establish incubation center in collaboration with Srikaya Foundation
The stock is up by 40 per cent from its 52-week low of Rs 105 per share.
Quicktouch Technologies Ltd has taken significant strides towards sustainability and innovation. The company has received board approval to implement green energy solutions across its educational institutions. This initiative involves installing solar panels, marking Quicktouch's entry into the renewable energy sector. The company plans to pursue this project either through a joint venture or by establishing a wholly-owned subsidiary. This aligns with Quicktouch's commitment to environmental stewardship and reducing carbon footprints.
In addition to its green energy endeavours, Quicktouch has also partnered with Srikaya Foundation to establish an Incubation Centre named "QUICKTOUCH INNOVATORS HUB." The company has committed an initial funding of Rs 10 crore for the setup and promotion of this center. The center will provide infrastructure, mentorship, technology support, and financial assistance to early-stage startups and entrepreneurs. This initiative aims to foster innovation and entrepreneurship, and Quicktouch plans to consider further funding based on the center's success.
To further enhance its business development, Quicktouch has launched a new product called Digital Yodha. This channel partner application is designed to streamline the onboarding process and provide tools for the effective promotion of Quicktouch's products. By leveraging Digital Yodha, Quicktouch aims to strengthen its market presence and expand its reach through strategic partnerships. The company is optimistic that this initiative will contribute significantly to its growth and success in the competitive landscape.
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Incorporated in 2013, Quicktouch Technologies Limited is an information technology company. The company is in the business of software IT solutions and consulting services, IT product/software development & software commercial training and web designing.
The company has a market cap of Rs 90 crore and reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24). According to quarterly results, the net sales increased by 266.4 per cent to Rs 41.70 crore and the net profit increased by 146.8 per cent to Rs 1.53 crore in Q1FY25 compared to Q1FY24. In its annual results, the net sales increased by 39 per cent to Rs 122.16 crore and net profit increased by 5.3 per cent to Rs 6.73 crore in FY24 compared to FY23.
The shares of the company have a PE of 15x, an ROE of 75 per cent and an ROCE of 85 per cent. The stock is up by 40 per cent from its 52-week low of Rs 105 per share.
Disclaimer: The article is for informational purposes only and not investment advice.