Tanla Platforms share hits record high on partnership with Vodafone Idea

Share of Tanla Platforms hit a fresh all-time high today after the company announced a partnership with Vodafone Idea. There were pending buy orders of 34,195 shares with zero sell orders on BSE.

The stock has gained 15.6% in the last three days. The stock opened 5% higher at  Rs 1,675.90 against the previous close of Rs 1,596.10. The share was stuck in the upper circuit of 5% at Rs 1,675.90 for the majority of session on BSE.

Tanla Platforms share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Tanla Platforms stock has gained 114.32% in one year and risen 145.75% since the beginning of this year.

In a month, the share has climbed 36.81%. Total 1.16 lakh shares of the firm changed hands amounting to a turnover of Rs 19.45 crore on BSE. Market cap of the firm rose to Rs 22,749 crore. The share fell to its 52-week low of Rs 570.65 on December 23, 2020.

"Tanla and Vodafone Idea announced a partnership wherein Tanla will be the exclusive provider of solutions to secure, encrypt and enhance performance for the entire international messaging traffic on the Vi network," Tanla Platforms said in its release.

This partnership is focused on Wisely - a cloud-based platform co-developed with Microsoft - that is set to lead the global enterprise market in digital interactions and is expected to go live in the fourth quarter this year.

"Our partnership with Vi, powered by Wisely platform, is a massive step forward to lead the global digital interactions space. Wisely platform is a win-win proposition for all stakeholders - consumers, global enterprises, suppliers, and regulators - as we are committed to innovate with the entire ecosystem in mind," said Uday Reddy, Founder Chairman and CEO of Tanla Platforms Limited.

"I am confident this partnership will help expand our global footprint by addressing the needs of global enterprises not just in India but across the world," he added.

Tanla Solutions offers software products. The company offers application-to-person service (A2P) messaging platform globally. Its range of services includes product development and implementation in wireless telephony industry, aggregator services and offshore development services. Its segments include Mobile VAS & Software Development, and Property Development.