Shares of Tanla Platforms emerged as a top gainer in the Nifty 500 index on Friday, as the stock went up over 15% to hit a new 52-week high of ₹1,287.
Tanla’s share price is upbeat today as the company posted its earnings for the quarter ended June. The company’s consolidated profits for the quarter surged up close to 35% year-over-year to ₹135.4 crore. Revenue from operations came in at 911.11 crore. up 13.87% from the ₹800.1 crore revenue it booked in the same quarter last year.
The Investment: While the midcap stock has climbed up over 88% in the past six months, it is still trading much lower than its all-time high of ₹2,096.75 that it in January 2022. So, if you invest ₹10,000 in Tanla today, you will be able to purchase around 8 shares of the company. If the stock races up to its all-time high, the value of those shares would go up to ₹16,774.
The Risk: While the stock’s recent price movement and finances are strong, it doesn’t guarantee future results. Prior to the surge that started a couple of months back, the stock had gone down over 75% to hit a new 52-week low of ₹493 in March this year.
Price Action: Tanla’s share price was up 13.41% to close at ₹1,267.10 on Friday.
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Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
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