Indus Towers stock has increased by 12% so far this month, a whopping 65% so far this year, and an astounding 130% so far this past year. The market’s anticipation of lower receivables from Vodafone Idea (Vi) and the telecom operator’s solid performance are responsible for the stock’s astounding increase. Investors are hopeful that Vi’s improved financial situation will result in a less amount of unpaid debt to Indus Towers.
Recently, CLSA, a renowned brokerage firm, upgraded Indus Towers, further fueling investor confidence. CLSA’s analysts believe that the de-rating of Indus Towers’ stock is reversing, citing the company’s strong fundamentals and the positive outlook for the telecom industry.
As of 10:42 am the shares were trading 4.20% higher at ₹327.20 on NSE
CLSA has raised its target price for Indus Towers to ₹335
About the company –
Indus Towers Limited is a leading telecommunications infrastructure company that offers passive infrastructure services to mobile network operators and other wireless service providers in India. The company’s extensive portfolio of towers and related infrastructure plays a crucial role in supporting the country’s growing demand for telecommunications services.