If you make the right bet in the stock market and wait a little, then you can get rich. There are shares of many such companies in the market which have traveled from penny to multibagger. One such company is Hyderabad-based cloud computing firm Tanla Platforms. This company was earlier known as Tanla Solutions.
On March 29, 2022, the share rose nearly 31 thousand percent to Rs.1444.60, which was just below Rs.5 on March 29, 2014. This shows that the investment of Rs 1 lakh has now exceeded Rs 3 crore during the same period. Talking about the market capital of the company, it is Rs 19,609.80 crore.
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Will go on and on: Vishal Wagh, Head of Research, Bonanza Portfolio, told Business Today that the share price can go up to Rs 1,907. As of now, there can be a gain of up to Rs 463 in the share price. However, on January 17 this year, the share price went up to Rs 2,094. From this perspective, the share price is running at a discount.
Company results: For the financial year ended March 31, 2021, the company has posted a profit of Rs 356.14 crore as against a net loss of Rs 209.48 crore a year ago. On the other hand, sales during the same period grew 20 per cent year-on-year to Rs 2,341.47 crore. Overall, the company has grown by over 29 percent annually over the past 10 years.