Citi has maintained its “Buy” rating on Indus Towers, setting a target price of ₹500. With the current market price at ₹379.25, this implies an upside potential of approximately 31.8%.
The brokerage believes the recent correction in Indus Towers’ share price presents an attractive buying opportunity, bringing the stock back to its long-term mean levels. Citi also highlighted three key events to monitor: Indus Towers’ upcoming Q2 results, the conclusion of Vodafone Idea’s delayed bank funding, and a potential waiver by the government on bank guarantee requirements for telecom companies.
On a relative basis, Indus Towers is currently trading at a 20% discount compared to the only other domestic tower company.
Disclaimer: The information provided is for informational purposes only and should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions.
