Tanla Platforms zooms 6% on high volumes, stock up 25% in a month

Tanla Platforms surged more than 6 percent on January 10 amid high volumes after the company said it board will meet later in the month to approve Q3 results and payment of interim dividend, if any.

By noon, around 37 lakh shares changed hands on the National Stock Exchange (NSE) and the BSE combined, higher than the one-week and one-month average daily trading average of five lakh and 22 lakh shares, respectively.

The company said the board of directors would meet on January 23 to consider and approve December quarter results and payment of interim dividend, if any, for FY24.

At 12.26 pm, Tanla Platforms was trading 5.9 percent higher at Rs 1,151 on the NSE.

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Earlier this week, Tanla Platforms appointed former Telecom Regulatory Authority of India (TRAI) chairman RS Sharma to its board, taking the number of directors to seven.

The stock has rallied over 25 percent in the past month and 57 percent over the year. The Nifty has gained 20 percent in the year.

For the September quarter, Tanla Platforms recorded a 29 percent year-on-year jump in its profit at Rs 143 crore. Net revenue jumped 19 percent on-year to Rs 1,009 crore.

Also Read | Tanla appoints former TRAI Chief RS Sharma to board

Brokerage firm Yes Securities has a “buy” rating on the stock with a target price of Rs 1,382.

According to Yes Securities’ analysts, the adoption of CPaaS-based A2P messaging across industries continues to drive volume growth for both enterprise and platform segments of Tanla.

Rising share of higher margin platform segment would drive the EBITDA margin, the brokerage said.

According to HDFC Securities, the growth in Tanla Platforms’ enterprise business will be driven by growth in transactional SMS traffic, led by UPI and OTP. The platform segment growth will be powered by Wisely and Trubloq.

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