Tanla Platforms extends partnership with Truercaller; stock rises

Tanla Platforms shares rose on Wednesday after the Cloud communication provider announced it had extended its partnership with Truecaller for business messaging. The two companies have been in partnership since 2002. The stock gained as much as 4.6 per cent to Rs 1,043.2 apiece on BSE, continuing to strengthen for a second straight session.

At 10:43 am, Tanla Platforms shares traded held on to half of their intraday gain at Rs 1018 apiece.

"Tanla India’s leading CPaaS provider is pleased to extend an exclusive partnership with Truecaller for business messaging," Hyderabad-headquartered Tanla Platforms said in a a regulatory filing post-market hours on Tuesday.

The partnership aims to help enterprises connect with their end-users and offer highly customised solutions, including rich media and engaging content, it said.

According to Alan Mamedi, CEO and Co-Founder of Truecaller, the new partnership with strengthened collaboration will ensure growing usage of the platform and opportunities to serve more business customers through Tanla’s network.

"We are committed to this partnership with Tanla and to scaling up volumes,” Mamedi added.

Tanla and Truecaller believe that this partnership will ensure continued growth and product development to further innovate and build an even more effective communication platform for enterprises.

Tanla Platforms share price: Past performance

In a year, shares of Tanla Platforms have gained over 49 per cent, outperforming a rise of more than 28 per cent in the headline Nifty50 index.

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