Why is Tanla share price up 8% today? Know More
Shares of Tanla Platforms Ltd surged 8.63% to ₹537.10 in early trade on May 13, making it one of the top gainers on the NSE. The sharp rally came after a key promoter action that boosted investor confidence.
According to exchange filings, promoter Dasari Uday Kumar Reddy acquired a 1.38% stake in the company at an average price of ₹470.15 per share. The shares were purchased from American Funds Insurance Series Global Small Capitalization Fund and Smallcap World Fund Inc., signaling a strong vote of confidence from the company's top leadership.
The stock opened strong and traded in the range of ₹502.20 to ₹542.00 during the session. With a market capitalization of ₹72,180 crore, Tanla has a P/E ratio of 14.26 and a dividend yield of 2.23%, according to NSE data.
The promoter's increased holding has sent a positive signal to the market, reflecting belief in the company's long-term prospects. Investors responded swiftly to the development, pushing the stock nearly 9% higher from its previous close of ₹494.45.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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