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The shares of Tanla Platforms Limited, a CPaaS (communication platform as a service) player, were locked in the 5 per cent upper circuit during the morning session on Monday as the Board is set to consider a buyback proposal on July 22.
At 11:45 am, Tanla Platforms was trading at an intra-day high of ₹886.25 on the BSE, up ₹42.20 or five per cent. The shares remained locked in the 5 per cent upper circuit after opening at the price.
On the NSE, it was trading at ₹886.45, up ₹42.20 or five per cent.
The Board of Directors of the company shall, “inter-alia, discuss and consider a proposal for buyback of the equity shares of the Company including matters related/ incidental thereto (“Buyback”) and any other matter as the Board of Directors of the Company may decide during the course of the meeting which will take place on Thursday, July 22,” the company said in a regulatory filing on Monday.
It will also consider and approve the unaudited financial results (standalone and consolidated) of the company for the quarter ended June 30, 2021.
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