Equity Alert: Tanla Solutions up 1%; arm buys Finland's Openbit
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K.Karthik Raja
Jun 5, 2008, 3:45:40 AM6/5/08
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Equity Alert: Tanla Solutions up 1%; arm buys Finland's Openbit
MUMBAI--12:40PM--Tanla Solutions was up 1% at 265 rupees, but off
highs,
on news the company's Singapore arm will buy Finland-based mobile
payment
services firm Openbit for $18.6 mln (797.2 mln rupees), dealers said.
Earlier, Tanla shares had risen 3% on the news.
Analysts said the deal would help Tanla to expand its client base
in
Europe.
"The deal will help Tanla to access quality technology as Openbit
is said
to have advanced and the most secured technology for mobile payment
services," an analyst at a domestic brokerage said.
Resistance for the stock is seen at today's high of 270 rupees, a
technical analyst said.
MUMBAI--12:40PM--Tanla Solutions was up 1% at 265 rupees, but off
highs,
on news the company's Singapore arm will buy Finland-based mobile
payment
services firm Openbit for $18.6 mln (797.2 mln rupees), dealers said.
Earlier, Tanla shares had risen 3% on the news.
Analysts said the deal would help Tanla to expand its client base
in
Europe.
"The deal will help Tanla to access quality technology as Openbit
is said
to have advanced and the most secured technology for mobile payment
services," an analyst at a domestic brokerage said.
Resistance for the stock is seen at today's high of 270 rupees, a
technical analyst said.
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