Tanla Platforms Shares Up 16% In Three Days, On Road To Recovery From Over Two-Year Low
Tanla Platforms Ltd. share price gained over 16% in three sessions to Thursday without any fundamental triggers on high volumes. In Thursday's session, it rose nearly 6% and touched the highest level in two months.
The market cap of Tanla Platforms rose Rs 408 crore to Rs 10,508.23 crore as of 10:13 a.m.
One of the reasons behind its rally is that Tanla Platforms' share price has started to recover from the over two-year low it touched on Tuesday. The stock had slumped 34.6% from its 52-week high level.
Tanla Platforms' share price rose to a 52-week high of Rs 1,248.00 apiece on January 12, 2024. It declined to an over-two year low of Rs 660.25 apiece on Dec 31, 2024.
Tanla Platforms' share price rose 5.88% to the day's high of Rs 794.40 apiece, the highest level since November 7, 2024. Tanla Platforms' share price was trading 3.70% higher at Rs 778.00 apiece, compared to 0.42% advance in the NSE Nifty 50 index.
Tanla Platforms share price jumped over 14% in Wednesday's trading session on high volumes.
The stock fell 29.64% in 12 months. Total traded volume so far in the day stood at 92 times its 30-day average. The relative strength index was at 70.18.
Two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 38.9%.
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