Shares of Tanla Platforms Limited rise from Rs 30 to Rs 684 in five years
Over the past few years, several stocks have proven to be multi-baggers and have helped their investors earn high returns. One of them was Tanla Platforms stocks.
To make money from stock market investments, you have to be patient and wait longer than expected to get good returns on your money. Over the past few years, several stocks have proven to be multi-baggers and have helped their investors earn high returns. One of them was the shares of Tanla Platforms which returned over 15,445% over a 10-year period.
Tanla Platforms shares have provided returns of over 1,700% over the past five years and closed for Rs. 684.50 on Tuesday. Following March’s quarterly results, brokers expressed optimism about this multi-bagger stock.
According to a Business Today report, HDFC Securities has issued a buy rating on the stock, along with a price target of Rs. 1,050, or 53% above Tuesday’s closing price. The brokerage firm is bullish on Tanla platform activity and expects the firm’s business to benefit from recovering margins.
In June 2018, this stock was priced at Rs. 30, but currently, after five years, it has surged to Rs. 684. Despite the rise, the stock is still trading 55% below its last 52-week high of Rs. 1,509.05 per share, reached on April 28, 2022.
Tanla Platforms Limited was launched in 1999 and became the first company to introduce and implement A2P SMSC in India. Currently, the company processes more than 800 billion interactions per year, with almost 63% of India’s A2P SMS traffic processed through Trubloq, which is owned by Tanla Platforms Limited. The company’s main office is located in Hyderabad and is engaged in mobile VAS, software development and property development. Tanla shares are listed on both the NSE and the BSE.
Tanla Platforms Limited recorded a net profit of INR 120.30 crore in the quarter ending March 2023, indicating a decline of 14.43% from INR 140.60 crore in the same quarter of the previous year. Uday Reddy, who is the CEO and Founding Chairman of Tanla Platforms Limited, said the company’s innovation engine has delivered more than 20% growth in overall platform business profits for 11 quarters. successive, and that they are in a favorable position for growth in the years to come.
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