Shares of Tanla Platforms Ltd. rose over 10% to a five-month high after entering into its first commercial agreement with an Indian bank for its anti-phishing platform Wisely ATP.
The company did not disclose details about the deal, citing confidential reasons, according to an exchange filing. Wisely ATP is a tool to provide protection against SMS phishing.
On the NSE, shares of Tanla rose as much as 10.36% during the day to Rs 1,198.15 apiece, the highest since Aug. 10. It was trading 9.17% higher at Rs 1,186.05 apiece, as compared with a 0.09% decline in the benchmark Nifty 50 at 2:26 p.m.
The share price has risen 63.31% in the last 12 months. The total traded volume so far in the day stood at 3.6 times its 30-day average. The relative strength index was at 72.91.
Three analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 14.2%.
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