As technology advances and the digital landscape expands, there is an increased need for strong cybersecurity measures to protect against cyber attacks. This has led to the emergence of several top cybersecurity stocks in India in 2024. In this article, check the best cybersecurity stocks in India in 2024 and also learn about the cybersecurity industry’s prospects.
| Name | Market Cap | PE Ratio | Dividend Yield | Return on Equity | Debt to Equity |
| Expleo Solutions Ltd | 2,015.70 | 15.05 | 0.38 | 28.96 | 4.95 |
| Quick Heal Technologies Ltd | 1,901.10 | 297.05 | 0.70 | 1.22 | 0 |
| Sasken Technologies Ltd | 1,720.39 | 17.29 | 2.19 | 14.49 | 0.46 |
| R S Software (India) Ltd | 156.31 | -19.18 | – | -23.15 | 7.85 |
| Securekloud Technologies Ltd | 132.31 | -2.72 | – | -55.58 | 163.73 |
Note: The best cyber security sector stocks listed here are as of December 4, 2023, and are sorted based on the market capitalisation.
Expleo Solutions is a digital transformation firm that serves industries such as aerospace, defence, and automotive. Its cybersecurity solutions comprise risk management, compliance, and more. Expleo Solutions is well-known for its industry contributions and innovation. They just entered the cybersecurity testing market by working with ‘TEHTRIS’, a well-known French cybersecurity services provider. The company’s 5-year CAGR is 26.44%.
Quick Heal Technologies is a leading provider of cybersecurity in India. Internet security software and antivirus software are among their offerings. They serve a sizable clientele and are well-known in the cybersecurity industry for their services. The company’s 5-year CAGR is 9.96%.
Sasken Technologies provides engineering and technology services to clients in various industries, including healthcare, aerospace, and automotive. They specialise in cybersecurity services such as network security and data protection. Its main selling point is the security management services it provides for consumer electronics, especially Android smartphones. With more than 90 brands of consumer devices and corporate equipment, they seek to address more than 6,000 discovered vulnerabilities and exposures. The company’s 5-year CAGR is 15.92%.
R S Software is a company that specialises in developing software for the financial services market. They are experts in cybersecurity solutions such as fraud detection and prevention, as well as data security. R S Software has a reputation for innovation, and its contributions to the industry with technologies such as UPI and Bharat Billing Payment Solutions have been recognised. They responded to the demand for improved cybersecurity by developing an enterprise fraud risk management framework that can manage risks connected with all payment channels as digital payments become more prominent. The company’s 5-year CAGR is 12.93%.
SecureKloud Technologies is a cloud security startup that offers enterprises a variety of cloud-based cybersecurity solutions. The company has been recognised for its creative approach to cybersecurity and has received multiple industry awards. Through its stellar partnerships and clients, the firm is able to cover 250 clients across all industries and has thwarted more than 10,000 cyber threats. The company’s 5-year CAGR is 23.64%.
Cybersecurity is becoming a crucial component of protecting sensitive data due to the alarming rise in cyberattacks caused by the quick development of the digital world. Strong cybersecurity measures are more important than ever as businesses and individuals rely more and more on technology. This tendency is not unique to India, which has acknowledged the need for cybersecurity in the context of the widespread adoption of digital technology.
The fact that there were an average of 1.3 million cybersecurity incidents between 2020 to 2022 in India shows how crucial it is to have cybersecurity safeguards in place. Due to government laws and technological improvements, the cybersecurity market in India is predicted to grow to $13.6 billion by 2025.
Before investing in cybersecurity stocks, there are several factors that investors should consider. Firstly, it is important to research and identify the best cybersecurity stocks in India 2023 by analysing financial reports and market trends. It is also important to assess the company’s growth potential, competitive advantage, and leadership team.
Investors should also consider the current cybersecurity landscape in India and evaluate the company’s ability to adapt to changing trends and threats. Finally, investors should also assess the overall market conditions and their own risk tolerance before making any investment decisions. By considering these factors, investors can make informed decisions and potentially benefit from investing in the best cybersecurity stocks in India in 2023.
In today’s rapidly digitising world, cyber threats are on the rise, making cybersecurity solutions more important than ever. As a result, the demand for cybersecurity stocks is expected to grow, making it an attractive opportunity for investors. However, it’s essential to evaluate each company’s financials, competitive landscape, growth prospects, and cybersecurity strategy before investing.
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Disclaimer: This article has been written for educational purposes only. The securities quoted are only examples and not recommendations.
Published on: Mar 17, 2023, 12:39 PM IST
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