Tanla Platforms Ltd. has signed a definitive Memorandum of Understanding with Vodafone Idea Business Services Ltd. to deploy 'Messaging As A Platform' in India.
No further details have been shared due to confidentiality reasons, an exchange filing said on Friday.
Shares of Vodafone closed 4.03% higher at Rs 14.2 apiece, compared to a 1.62% advance in the NSE Nifty 50 on Friday.
The stock has risen 105.8% in the last 12 months. Total traded volume so far in the day stood at 1.5 times its 30-day average.
Of the 17 analysts tracking the company, two maintain a 'hold' and 15 suggest a 'sell', according to Bloomberg data. The average 12-month analysts' price target implies a downside of 52%.
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