Buzzing stock: Only buyers in Tanla Platforms; shares hit 5% upper circuit

Soon after the partnership announcement, Tanla Platforms stock soared to a 52-week high of Rs 1,675.90 per share. In 2021 (year to date), the stock has given a return of over 143 percent to investors.

The two companies aim to lead the global enterprise market in digital interactions with their partnership, which is expected to go live in Q4FY22. This follows the success of ‘TRUBLOQ’ — the largest implementation of blockchain use case processing Rs 350 billion transactions per year, according to the regulatory filing.

Uday Reddy, founder chairman and chief executive officer (CEO) of Tanla Platforms Limited said, “Our partnership with Vi, powered by Wisely platform, is a massive step forward to lead the global digital interactions space. Wisely platform is a win-win proposition for all stakeholders — consumers, global enterprises, suppliers, and regulators, as we are committed to innovate with the entire ecosystem in mind. I am confident this partnership will help expand our global footprint by addressing the needs of global enterprises not just in India but across the world.”

Tanla stock was locked in the 5 percent upper circuit at Rs 1675.90 apiece on the BSE at 1:50 pm. The Vodafone Idea stock on the other hand, fell 5.46 percent to Rs 14.20 per share on BSE and was down 5 percent to Rs 14.25 per share on the National Stock Exchange (NSE).