Tanla Platforms shares are showing good growth. High trading volumes were observed in this counter. The gains came after a nearly 12 per cent rally seen in Tanla Platforms share price in the New Year Day trading session, taking total gains to 18 per cent in two days.
4.63 lakh shares of Tanla Platforms were transacted on BSE, which was almost 4 times higher than the average trading volume of 1.24 lakh shares in the last two weeks. The shares started today’s session at ₹750.45, not much changed from its previous close. The shares then rose to ₹794, marking a gain of 5.6 per cent over the previous close.
The shares reached their 52 week low of ₹660.50 on December 31, 2024. Meanwhile, its 52 week high was ₹1,248.40, which it touched on January 12, 2024. Shares of Tanla Platforms have risen 11 percent in the last month, whereas in the last one year it has fallen 29 percent causing losses to investors.
Will Tanla Platforms run further?
According to technical analysts, the outlook for Tanla Platforms shares looks strong and there is a possibility of further growth.
Mahesh M Ojha, AVP Research at Hensex Securities, linked the rally in Tanla Platforms shares to capex expansion on Dalal Street. According to him, this stock looks strong on the chart pattern and may rise further. Ojha says this share price has been boosted by CAPEX expansion at Dalal Street in the last two sessions. The Indian government announced incentives for fertilizer companies, leading to buying in fertilizer stocks. The stock looks strong in chart pattern and is trading at lowest PE. Hence, the rally is expected to continue further.
He also said that Tanla Platform shares are on the verge of giving a fresh breakout on a closing basis at ₹812. If this happens, they expect the shares to reach ₹875 to ₹890 in the near future, while ₹1000 can be expected in the mid term.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.