Indus Towers’ stock climbed 2% after Citi maintained its ‘Buy’ rating, setting a target price of ₹485 highlighting that the stock has corrected by 28% since its share buyback announcement on July 30, presenting an attractive entry opportunity.
Key drivers highlighted by Citi include expected tenancy growth from Vodafone Idea (starting Q3 FY25), faster recovery of past dues, and reduced capex boosting free cash flow. Additionally, the brokerage sees potential for dividend reinstatement by Q4 FY25, adding to the stock’s appeal.
As of 9:38 am, Indus Towers shares were trading 2.15% higher at Rs 330.10 on the NSE.
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