Momentum Pick: Trading at 53% discount, Tanla Platforms has 25% upside

Communication platform Tanla Platforms has seen its share price bounce back from a 52-week low of INR493 ($6.54) on 28 March 2023. Trading at a 53% discount from its 52-week high, the stock has underperformed the Nifty50, returning negative 52% over one year compared to the index’s 11%. The largest communications platform as a service player in India, Tanla aims to reduce spam and fraud with its development of blockchain technology. While the stock had been performing poorly since January 2022, the technical charts show a likely upward movement on a short- to medium-term basis.