Tanla Platforms shares up 7% from 52-week lows; here's how the near-term trend looks like

Tanla Platforms Ltd shares resumed climb in Tuesday's trade, pausing their two-day fall. The stock was last seen trading 1.77 per cent higher at Rs 703.45. At this price, it has moved up 6.50 per cent from a one-year low value of Rs 660.50, which was seen on December 31 last year.

The IT company is scheduled to announce its third-quarter (Q3 FY25) results on January 21, 2025. It may also consider payment of interim dividend, if any, for the financial year 2024-25.

On technical setup, support on the counter could be seen in the Rs 740-700 range. And, resistance may be found above the Rs 800 zone.

Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, said, "The immediate support is seen around 720-700 zone. While on the higher end, the bearish gap around Rs 840 would be a crucial zone to watch for in the short run."

Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi, said, "Support will be at Rs 740 and resistance at Rs 795. A decisive move above Rs 795 level may trigger a further upside towards 850. The expected trading range will be between Rs 720 and Rs 850 for the short term."

Sebi-registered research analyst AR Ramachandran said, "Tanla Platforms is slightly bearish on daily charts with strong resistance at Rs 802."

The counter was trading lower than the 5-day, 50-, 100-, 150-day and 200-day simple moving averages (SMAs) but higher than the 10-day, 20-day and 30-day SMAs. The counter's 14-day relative strength index (RSI) came at 49.57. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The company's stock has a price-to-equity (P/E) ratio of 47.53 against a price-to-book (P/B) value of 15.52. Earnings per share (EPS) stood at 14.54 with a return on equity of 32.66.

The company (formerly known as Tanla Solutions) offers an application-to-person service (A2P) messaging platform globally. Its range of services includes product development and implementation in the wireless telephony industry, aggregator services and offshore development services.

As of September 2024, promoters held a 44.15 per cent stake in the company.