HDFC Securities Assigns Buy On IT Stock For 56% Gains, 400% Dividend Income, Soars 946.83% In 3 Yrs

HDFC Securities in its recent equity report on IT Software sector firm Tanla Platform assigns "Buy" on the stock of the company with a target price of Rs 1,050 apiece. Given the assigned target price by the brokerage, the stock is likely to give robust gains of up to 56% if purchased at the current market price.

Tanla Platforms has declared a massive 400% final dividend. On Wednesday, April 26, the company also announced its quarterly results and issued a dividend of Rs. 4 per equity share with a face value of Rs. 1 for the current fiscal.

Recommends Dividend Of 400%

"The Board of Directors of the Company, at their meeting held on Wednesday, April 26, 2023, considered and recommended the Final Dividend of Rs. 4/- (400%) per Equity Share, of face value of Re.1/- each, for the financial year ended March 31, 2023, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company," Tanla Platforms said in an exchange filing.

Stock's Current Market Price, 52-Week High/Low

On Friday, the stock of Tanla Platform closed 0.70% low at Rs 676.25 apiece. It recorded its 52-week high on 28 April 2022 at Rs 1,510 apiece and 52-week low on 28 March 2023 at Rs 493 apiece, respectively.

Returns Over The Years

The stock surged 8.23% in 1 week, and 29.29% in 1 month respectively. However, it has fallen 54.57% in the past 1 year. It gave a robust 946.83% positive return. In the past 5 years, it has given a multibagger return of 1,727.7%.

Buy for a target price of Rs. 1,050 apiece

HDFC Securities has said, "We maintain our BUY rating with a TP of INR 1,050, based on 22x Dec-24E EPS, supported by a 23% EPS CAGR over FY23-25E and an RoE of ~31%. The stock is trading at 17x FY24E EPS (~34% below its 3Y average)."

Disclaimer - The stock has been picked from the brokerage report of HDFC Securities. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.