Tanla Platforms shares skyrocket - this is what the Street is gung ho about

Tanla Platforms shares surged on Thursday after the communication technology provider launched an anti-phishing platform, Wisely ATP. Tanla shares held on to much of their intraday gains at the end of the day, settling stronger by Rs 53.5 or 8.9 per cent for the day at Rs 657.5 apiece on BSE with huge volumes. 

During the session, as many as 1.2 lakh Tanla shares changed hands as against a daily average of 27,000 in the past two weeks, according to BSE data.

Tanla Platforms said Wisely ATP is a global, first-of-its-kind proprietary anti-phishing platform to protect citizens, trusted brands and digital economy.

The platform will be launched at the Mobile World Congress (MWC) in Barcelona, Spain on February 27, according to a company statement.

Scams have become a major digital challenge with over 120 million scams reported in India annually, leading to losses to the tune of $16 billion (about Rs 130,000 crore, Tanla said.

"Increasing mobile penetration has led to SMS phishing scams becoming one of the most prominent form of cybercrime in India," it added.

Telecom regulator TRAI has already given nod to setting up of a regulatory sandbox for the Wisely platform, according to the statement. 

Tanla Platforms shares have declined about nine per cent in the past one year, underperforming the Nifty50 benchmark's one per cent rise. 

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