Tanla Platforms Shares Surge 14 Per Cent Following Major Commercial Agreement

Tenla did not divulge further details due to "confidentiality reasons",  however, media reports suggest that the deal has been signed with Meta Platforms-owned WhatsApp

Despite the initial surge, Tanla Platforms' stock later pared gains, closing at Rs 997.75, up 4.74 per cent on the BSE by the end of Monday's trading session.

Source : Tanla

Shares of Tanla Platforms soared 14 per cent to an intra-day high of Rs 1,086.45 after the company announced a significant commercial agreement. In a filing with the exchange, Tanla Platforms revealed that it has partnered with an undisclosed global tech major to utilise Wisely ATP for identifying fraudulent phone numbers, aiming to combat scams on their messaging platform.

"We hereby inform you that Tanla Platforms Limited (the Company) has signed a commercial agreement with one of the Global Tech Major on Wisely ATP to combat scams on their messaging platform by identifying fraudulent phone numbers. We are constrained from sharing further details due to confidentiality reasons," the company stated.

The firm did not divulge further details due to "confidentiality reasons",  however, media reports suggest that the deal has been signed with Meta Platforms-owned WhatsApp.

Despite the initial surge, Tanla Platforms' stock later pared gains, closing at Rs 997.75, up 4.74 per cent on the BSE by the end of Monday's trading session. Over the past year, Tanla's stock has declined by 5 per cent, in contrast to the benchmark Nifty, which has risen by approximately 27 per cent during the same period.

Meanwhile, the two key equity benchmarks, Sensex and Nifty, closed at new record highs on Monday, buoyed by fresh foreign fund inflows and strong performances from State Bank of India and other major companies. The 30-share BSE Sensex climbed 146 points to settle at a new record high of 80,665, after peaking at 80,863 during the day. The NSE Nifty also rallied, gaining 85 points to close at an all-time high of 24,587, after reaching a new intraday peak of 24,635.

On the Sensex platform, notable gainers included State Bank of India, NTPC, UltraTech Cement, Mahindra & Mahindra, Bajaj Finance, Tata Motors, Maruti, and ITC. Conversely, Asian Paints, Tata Steel, Axis Bank, JSW Steel, Tech Mahindra, and Tata Consultancy Services were among the day's losers.