Buzzing Stock: Tanla Platforms share price up 11.5% today on heavy volume

Tanla Platforms share price: Over the past three months, Tanla Platforms share has declined 25 per cent on the bourses. It has dropped 28.6 per cent in six months, and 38.6 per cent in calendar year

Tanla Platforms share: Tanla Platforms share price today soared as much as 11.5 per cent to Rs 750 per share on the National Stock Exchange (NSE). At 1:40 PM, Tanla shares were trading near day’s high on the NSE as against a 0.4 per cent rise in the Nifty today.

 

The rally in Tanla Platforms share price was supported by heavy volumes. Till the time of writing this report, 8.24 million shares had cumulatively changed hands on the NSE and the BSE.

 

Tanla Platforms is a mid-cap technology company, providing end-to-end solutions to customers in the telecom infrastructure, telecom services (products and custom development), offshore software development, and maintenance sectors.

 

 

Tanla Platforms share price hit an all-time high of Rs 2,094.4 per share on January 17, 2022, whereas its all-time low stands at Rs 2.42 per share, which it hit on August 7, 2013.

 

Tanla Platforms share hit a 52-week high of Rs 1,248.4 on January 12, 2024, and a 52-week low of Rs 660.5 per share on December 31, 2024.

 

Tanla Platforms share price has been on a steady downfall. Over the past three months, Tanla Platforms share has declined 25 per cent on the bourses. It has dropped 28.6 per cent in six months, and 38.6 per cent in calendar year 2024. By comparison, the BSE Sensex index added 8.2 per cent in CY24.

 

Tanla Platforms share price target

With today’s rally, Tanla Platforms share price is attempting to break above the upper end of the Bollinger Band on the daily chart. If it manages to conquer resistance level, which is placed at Rs 748, Tanla Platform stock may move higher towards Rs 815 level, which is its 100-day moving average (100-DMA).

 

On the downside, support is at Rs 697 per share.

 

Meanwhile, on the weekly charts, the next resistance is at Rs 800 per share, the stock’s 20-week moving average, with downside support at Rs 601 per share.

 

Tanla Platforms results

In the September quarter of the current financial year (Q2FY25), the company’s consolidated revenue declined 1.0 per cent year-on-year (Y-o-Y) to Rs 1,001 crore due to a slowdown in the international market, offset by OTT category as an emerging business.

 

Ebitda margin, too, contracted by 198 bps to 18 per cent Y-o-Y, due to higher employee costs and operating expenses owing to a 53 per cent Y-o-Y jump in connectivity & bandwidth charges.

 

"The stock has significantly corrected due to increased competition and price challenges. Considering this, we lower our margin estimate by 211bps for FY26. However, we recommend HOLD rating at lower levels based on 15x (based on long term avg.) P/E ratio on FY26E adj. EPS with a revised target price of Rs 774," said analysts at Geojit Financial Services in a result review report.