The process of protecting systems, networks, and programs against digital threats is known as cybersecurity. These cyberattacks are often aimed to access, change or delete sensitive information; extort money from users via ransomware; or disrupt regular corporate activities.
As technology develops and the digital world grows, putting effective cybersecurity measures into place has grown more difficult as attackers have gotten more resourceful. As a result, companies with advanced technology are in demand for strong cybersecurity measures to protect against cyberattacks.
Here are a few of India’s two cyber security stocks that assist enterprises as well as individuals to safeguard their personal data and protect them against digital attacks.
Quick Heal Technologies Limited
Founded in 1995, Quick Heal Technologies is one of the leading information technology (IT) security solutions companies and operates globally.
The company offers data theft protection, parental control, firewall, remote device management, website security, and cleanup solutions.
As of March 2024, the ace investor Mukul Mahavir Agrawal holds 7 lakhs of equity shares, representing 1.31 percent of the stake, in Quick Heal Technologies.
With a market cap of Rs. 2,577.4 and a Piotroski score of 7, the share price of the company moved up by 1.94 percent to hit an intraday high at Rs. 493.15 in the trading session of Friday, compared to its previous closing price of Rs. 483.75 on the BSE.
In terms of financials, the revenue from operations stood at Rs. 80 crore in Q4 FY23-24, increasing by 63.3 percent from Rs. 49 crore in Q4 FY22-23.
On a year-on-year basis, the net profit of the company grew by 300 percent to Rs. 14 crore in Q4 FY23-24 from a loss of Rs. 7 crore in Q4 FY22-23.
The stock has delivered about 251.2 percent of multibagger returns in the last one year and nearly 50.5 percent of positive returns in the last six months. So far in 2024, the company has given 35.8 percent of positive returns.
TAC Infosec Limited
TAC InfoSec Limited, doing business as TAC Security Inc., is a global leader in Vulnerability Management and offers security software products and solutions. It protects Fortune 500 companies, leading enterprises, and governments around the world.
Through the SaaS model, the company offers cybersecurity quantification, risk-based vulnerability management and assessment tools, and penetration testing services to businesses of all sizes.
The company’s flagship software product is Enterprise Security in One Framework (ESOF), a vulnerability management platform. All of the products launched under the ESOF Platform have a range of applications including cyber risk quantification, compliance assessment and vulnerability management solutions for Web and application-based data.
In addition to configuration assessment, ESOF provides a vulnerability assessment process that scans and identifies possible security loopholes in the IT infrastructure.
In Friday’s trading session, the stock, with a market cap of Rs. 631.4 and a Piotroski score of 8, jumped by 9.1 percent to hit a new 52-week high at Rs. 623.75, from its previous closing price of Rs. 571.75 on the NSE.
On a year-on-year basis, the company’s revenue from operations increased by 95.7 percent from Rs. 5.11 crore in FY21-22 to Rs. 10 crore in FY22-23, accompanied by an increase in the net profit of 731.14 percent from Rs. 0.61 crore in FY21-22 to Rs. 5.07 crore in FY22-23.
Backed by the stock market expert Vijay Kishanlal Kedia, the company made its debut on NSE Emerge on April 5, 2024, with a 174 percent premium over the offer price. Through its first Initial Public Offering (IPO), the company raised ~Rs. 30 crore, and received bids surpassing $1 billion, leading to a 422-fold oversubscription.
Written by Shivani Singh
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