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This Small Cap Has Made 1400% Gains Since March Low: Know The Triggers
Tanla Platforms previously known by Tanla Solutions is a 20-year old small cap from the technological space. The stock in a otherwise week market, hit its new 52-week for the second consecutive day hitting Rs. 555.75 per share on the NSE. The stock on March 25, 2020 hit its 52-week low of Rs. 37.10.
The likely or probable reasons supporting the price rise of Tanla Platforms
Inclusion Of Tanla In MSCI India Domestic Small Cap Index
Now lately the rally has been triggered by the stocks inclusion in MSCI India Domestic Small Cap Index.
As of Tuesday November 24, 2020, the stock was locked for the fourth consecutive day and there was a seen heavy volume in the stock. Also there were several pending orders on the same day of around 1.31 lakh equity shares.
Impressive Q2FY21 financial performance
The software small and medium enterprises offering cloud communications services has seen the best ever quarter with net profit at Rs. 81.5 crore as against Rs. 47 crore in the same quarter of the previous year.
Revenue also registered a spike of 20 percent year on year to Rs. 583 crore. Its EBITDA (earnings before interest, taxes, depreciation, and amortisation) jumped 210 per cent to Rs 97.5 crore, while margin expanded to 16.7 per cent from 6.5 per cent in Q2FY20.
PE firms brought over 9 percent stake in the company
On November 17, 2020, Banyan Investments sold off 15 million equity shares, representing 11 per cent of total equity capital of Tanla Platforms, for Rs 587 crore. Banyan, which held 16.7 per cent stake in the company, sold these shares at price of Rs 391.30 via block deal on the BSE, the exchange data shows.
And this came when American Funds Insurance Series A/c International Fund bought 8.6 million shares or 6.32 per cent stake, while Amansa Investments has acquired 4.08 million shares of 3 per cent stake in Tanla Platforms at price of Rs 391.30 per share. Besides, Mobile Techsol Private Limited, the promoter group, has also increased its stake by buying 1.71 million shares or 1.25 per cent stake in the company.
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