Buy Tanla Platforms, target price Rs 1090: HDFC Securities

HDFC Securities has buy call on Tanla Platforms with a target price of Rs 1090.The current market price of Tanla Platforms is Rs 1020.4. HDFC Securities recommended to keep stop loss at Rs 988.

Tanla Platforms, incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 14202.76 Crore) operating in IT Software sector.

Tanla Platforms key Products/Revenue Segments include Software Services for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 916.37 Crore, up 9.31 % from last quarter Total Income of Rs 838.32 Crore and up 13.89 % from last year same quarter Total Income of Rs 804.64 Crore. Company has reported net profit after tax of Rs 135.40 Crore in latest quarter.

Investment Rationale
Reversed downtrend with big bull candle. Momentum positive after deeper downward retracement.

Promoter/FII Holdings
Promoters held 44.17 per cent stake in the company as of 30-Jun-2023, while FIIs owned 14.56 per cent, DIIs 0.38 per cent.