Its the largest possible buyback amount as allowed by SEBI. So its definitely a strong statement of confidence by the Board.
If Tanla follows this up with a strong Q2 where Enterprise margins don’t further erode but show some recovery and platforms get more traction, we just may be over the worst phase. The business is expected to have good tailwinds during the festive season as analysts are expecting a lot of consumer spending this Diwali after 2 years of muted spends.
I am cautiously optimistic, watching out for Q2 results. If Q2 performance is poor, the stock may still be rangebound in and around 1000.
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