Low PE IT-Stock Under Rs 100 Jumps 6.93 Per Cent; Do You Own It?
The stock is up by 12.3 per cent from its 52-week low of Rs 88 per share.
On Wednesday, shares of Quicktouch Technologies Limited gained 6.93 per cent to an intraday high of Rs 98.80 per share from its previous closing of Rs 92.40 per share. The stock’s 52-week high is Rs 256.95 per share and its 52-week low is Rs 88 per share.
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 62 crore and reported positive numbers in its Quarterly Results (Q2FY25) and half-yearly results (H1FY25). According to quarterly results, the company reported a total income of Rs 25.08 crore and a net profit of Rs 2.06 crore in Q2FY25. In its half-yearly results, the total income increased by 44 per cent to Rs 67.49 crore and net profit increased by 5 per cent to Rs 3.58 crore in H1FY25 compared to H1FY24.
The company has converted 10,00,000 warrants into an equal number of equity shares for Rs 196.17 per share. The allottees paid Rs.147.13 per warrant, amounting to a total of Rs 14,71,27,500. This conversion has increased the company's issued and paid-up capital to Rs 10,81,59,960, comprising 1,08,15,996 equity shares of Rs 10 each. Additionally, 95,50,000 warrants remain outstanding, and their holders can convert them into equity shares by paying Rs 147.13 per warrant within 18 months.
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The company has approved the acquisition of two companies: Vidyahub Private Limited for Rs 12 crore and Techquench Private Limited for Rs 3 crore. These acquisitions are aimed at expanding the company's presence in the education and IT services sectors. Additionally, the company will infuse Rs 13.5 crore into its wholly owned subsidiary, Qtouch Business Solutions Private Limited, to strengthen its financial position and support its growth initiatives.
The shares of the company have a PE of 8x, an ROE of 14 per cent and an ROCE of 15 per cent. The stock is up by 12.3 per cent from its 52-week low of Rs 88 per share.
Disclaimer: The article is for informational purposes only and not investment advice.