Tanla Platforms shares surge nearly 15% amid high volumes in New Year’s Day trade; should you buy? | Stock Market News

Tanla Platforms shares surged nearly 15 per cent to the day’s high of ₹772.60 amid high volumes on Wednesday, January 1. The company’s shares faced some profit-taking but closed 11.67% higher on New Year’s Day.

Tanla Platforms share price opened at ₹678.95, up 1.03 per cent, compared to its previous market close of ₹672. 

During the session, the stock hit an intraday high of ₹772.60, which was 14.97 per cent higher than the previous day’s close, with the stock finally settling at ₹750.45. The shares hit an intraday low of ₹672.20.

 Tanla Platforms touched its 52-week-high of ₹1,248.40 on January 12, 2024, while it slipped to its 52-year-low of ₹660.50 in the previous session i.e. December 31, 2024.

On January 1, the total trading volume for Tanla Platforms shares was 260.73 lakh, with ₹1,952.94 crore worth of company stocks traded, suggests NSE data.

Stock Outlook

On the technical front, Jigar S Patel, Senior Manager of Techincal Research at Anand Rathi Shares and Stock Brokers, said, “Tanla has formed a strong double bottom structure on the chart, accompanied by a bullish RSI divergence, signalling a potential trend reversal.”

“This technical setup resulted in an impressive 12 per cent surge in a single trading session, highlighting significant bullish momentum. The stock has reversed from a key previous breakout zone, further strengthening its technical outlook,” said the stock market expert. 

Currently, the price action presents a lucrative buying opportunity, said Patel, advising traders to start accumulating Tanla within the 720-730 range if any pullback occurs over the next few sessions. 

“The upside target is set at 850, offering an attractive risk-reward ratio. To manage risk effectively, a strict stop-loss below 665 on a daily closing basis is recommended,” said Patel.

The Hyderabad-based company is a data security, privacy, spam and scam protection operator, providing its services to clients including big tech companies like Google, Meta, as well as Truecaller.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.