Tanla Platforms shares locked in 5% upper circuit as board to consider share buyback

Stocks

The share touched its 52-week high Rs 1,030 on March 3, 2021 and a 52-week low of Rs 76 on July 13.

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Tanla Platforms share price was locked in a 5 percent upper circuit in the morning trade on July 12 after the cloud communication company said it was considering a share buyback.

There were pending buy orders of 13,819 shares, with no sellers available.

“A meeting of the board of directors of the company will commence on Wednesday, July 21, 2021, and end on Thursday, July 22, 2021, to consider and approve the unaudited financial results (standalone and consolidated) of the company for the quarter ended June 30, 2021,” the company said in its release.

The board will also consider a proposal for buyback of the equity shares of the company, including matters related/ incidental thereto and any other matter as the board of directors of the company may decide during the course of the meeting, it added.

Also, the audit committee meeting will be held on July 21, 2021.

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At 0920 hours, Tanla Platforms was quoting at Rs 886.25, up Rs 42.20, or 5 percent on the BSE.

The share touched its 52-week high Rs 1,030 on March 3, 2021 and a 52-week low of Rs 76 on July 13. It is trading 13.96 percent below its 52-week high and 1066.12 percent above its 52-week low.