Tanla Solutions enters into a JV with ZED Worldwide

Tanla Solutions has entered into a joint venture with ZED Worldwide to set up mobile content services. The company will invest Rs 63 crore in the JV, and will start operations in April-June. Tanla is a debt free company sitting on cash of about Rs 150 crore.

Tanla Solutions has deployed 3G platform for MTNL. It launched missed call alert for Aircel. Higher 3G usage and mobile internet in UK will benefit the company. The company has debt of Rs 278 crore. It has increased the debtor days to 119 days in Q3.

Tanla Solutions stock touched an intra day high of Rs 33.20 and an intra day low of Rs 30.90 and at 14:56 PM, the share was quoting at Rs 32.25, up Rs 2.75, or 9.32%, trading with volumes of 816,311 shares, compared to its 5-day average of 186,061 shares, an increase of 338.73%. Yesterday the share closed up 13.03% or Rs 3.40 at Rs 29.50.

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