Tanla Platforms shares up 87% in six months; time to buy, sell or hold?

Shares of Tanla Platforms Ltd on Wednesday jumped 8.80 per cent to hit a high of Rs 1,121. The stock was last seen trading with 5.81 per cent gains at Rs 1,090.25. At this price, it was up 87.10 per cent in the past six months. On BSE, around 58,000 shares changed hands today. The figure was way more than the two-week average volume of 23,000 shares. Turnover on the counter stood at Rs 6.26 crore, commanding a market capitalisation (m-cap) of Rs 14,625.68 crore.

Support on the counter could be seen at Rs 1,031 and suggested upside targets by analysts would be between Rs 1,150 and Rs 1,200.

Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, said, "One can buy in the zone of Rs 1,080–1,100 for an upside target of Rs 1,200 in the coming few weeks. Keep stop loss placed at Rs 1,030."

AR Ramachandran from Tips2trades said, "Tanla Platforms looks bullish on the daily charts with strong support at Rs 1,031. A daily close above resistance of Rs 1,098 could lead to target of Rs 1,180 in the near term."

DRS Finvest founder Ravi Singh said, "The stock is looking bullish, taking cues from strong sentiments from the benchmark indices. Daily charts are suggesting a strong move ahead and a target of Rs 1,150 level is most probable in the near term."

The counter was trading higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs). The counter's 14-day relative strength index (RSI) came at 60.79. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 83.11 against a price-to-book (P/B) value of 24.41.

The scrip has an analyst target price of Rs 1,448, Trendlyne data showed, suggesting a potential upside of 33 per cent in a year. It has a one-year beta of 0.53, indicating low volatility on the counter.

The company (formerly known as Tanla Solutions) offers an application-to-person service (A2P) messaging platform globally. Its range of services includes product development and implementation in the wireless telephony industry, aggregator services and offshore development services.

(Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)

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