Tanla Platforms share price jumped 5 percent intraday on November 26 after Massachusetts Institute of Technology (MIT) and Vantage Equity Fund bought stakes in the company via bulk deals.
MIT purchased 9.85 lakh shares, or 0.72 percent equity, of Tanla Platforms while Vantage Equity Fund bought 6.85 lakh shares or 0.5 percent equity, of the company, according to bulk data on the BSE.
However, Banyan Investments sold 16.70 lakh shares, or 1.23 percent equity. All three deals were struck at an average price of Rs 524.30 per share.
The stock price hit a new 52-week high of Rs 583.50 per share on BSE and was trading at Rs 581.90, up Rs 26, or 4.68 percent. It has touched an intraday high of Rs 583.50 and an intraday low of Rs 567.65.
According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long-term moving averages. The company has no debt and has zero promoter pledge. FII/FPI or institutions are increasing their shareholding.
Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish. The company has been reporting a decline in quarterly net profit with a falling profit margin (YoY).