Small Cap IT Stock Declares 400% Dividend, Geojit Sees Shares Rising, Buy

Board of directors of small cap IT Software sector stock, Tanla Platforms Ltd on Wednesday recommended final dividend of 400% for the financial year ended March 31, 2023. The stock witnessed a decline of 56% in last 1-year. Meanwhile, brokerage firm Geojit has recommended investors to buy Tanla Platforms Ltd with target price of Rs 740 per share. Check details below:

Tanla Platforms Ltd Declares Dividend: According to the regulatory filing of the company, "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 Ltd Stock Performance & Return: Last trading price of the stock is Rs 653.80 per share with intraday rally of 3.18%. The stock's 52-week high price is Rs 1521.25 per share and 52-week low price is Rs 506.10 per share, respectively. The company has a market capitalisation of Rs 8,787.10 crore. The stock gave return of 838% in last 3-years, 21% return in last 1-month, and fell 25% in last 2-years.

Valuation: According to Geojit's report dated February 16, 2023, "We value Tanla at a PE of 15x, low of 5yr Avg. and reiterate BUY rating with a revised target price of Rs. 740."

Tanla Platforms Ltd About: Tanla Platforms Ltd. is the largest Communication Platform as a Service (CPaaS) player in India. Tanla has two major businesses: Enterprise and Platform, both using blockchain technology to reduce spam and fraud activities and make it easy to integrate with enterprise applications.

Disclaimer: The stock has been picked from the brokerage report of Geojit. 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 check with certified experts before taking any investment decision.