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Tanla Platforms shares soar 13% as board likely to consider share buyback
Tanla Platforms share buyback history
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Tanla Platform share price performance
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Shares of Tanla Platforms soared 12.8% to hit their day's high of Rs 702 on BSE in Thursday's trade after the company announced that its board of directors will meet on June 16 to consider a proposal for the buyback of equity shares.'Pursuant to Regulation 29(1)(b) of the SEBI LODR, this is to inform that a meeting of board of directors of the Tanla Platforms Limited ('Company') will be held on Monday, June 16, 2025, inter alia, to consider the proposal for buyback of equity shares of the Company and other matters necessary and incidental thereto,' the company informed via a filing to the stock potential buyback plan has boosted investor sentiment, with market participants viewing it as a sign of the company's financial strength and commitment to enhancing shareholder value.A share buyback typically involves a company repurchasing its shares from the market, thereby reducing the number of outstanding shares and potentially increasing earnings per share (EPS). It serves as a signal of management's confidence in the company's future performance and cash to the data available on Trendlyne, Tanla Platforms had conducted two board meetings before this, to conduct a buyback of shares, in July 2021 and April the past one year, the stock has declined 27.71%, while the year-to-date (YTD) performance shows a loss of 7.57%. In the last six months, the stock is down by 1.11%.However, in the most recent three month period, the stock has gained 58.71%, and over the past one month, it has risen 40.20%.
