The stock has gained after five days of consecutive fall and the surge comes as shares of Vodafone Idea zoomed over 20 per cent after it shared updates regarding the government increasing stake in the firm to 48.99 per cent.
Indus Towers Share Price: Shares of telecom infrastructure firm Indus Towers are in action today, even as benchmark indices Sensex and Nifty 50 have dipped over 1 per cent today.
Indus Towers Share Price
The counter opened in green at Rs 350.05 on the BSE. This is a gain of 4.77 per cent from the previous close of Rs 334.10 on the BSE. It later jumped amid firm buying and touched an intraday high of Rs 360.85. This is a gain of 8.01 per cent from the closing price of the stock in the last trading session.
The stock has gained after five days of consecutive fall and the surge comes as shares of Vodafone Idea zoomed over 20 per cent after it shared updates regarding the government increasing stake in the firm to 48.99 per cent. The government has said that it is set to acquire shares worth Rs 36,950 crore in lieu of outstanding spectrum auction dues.
The 52-week high of the counter is Rs 460.70, and the 52-week low is Rs 292.
Why Is Indus Towers Stock gaining?
Indus Towers, the country’s largest telecom infrastructure, serves as the infrastructure provider for India’s leading telecom operators, including Vodafone Idea Limited (Vi). It has a pan-India presence with 234,643 towers and 386,819 co-locations as of December 31, 2024.
Vodafone Idea Limited (Vi) is a significant customer of Indus Towers, and the company’s financial performance can be impacted by Vi’s payment behaviour.
It earns money from telecom operators primarily through Master Service Agreements (MSAs) for tower rental and infrastructure sharing. Indus Towers is a subsidiary of Bharti Airtel.
Indus Towers Quarterly Results
Indus Towers reported more than doubling of its consolidated net profit to Rs 4,003 crore in the third quarter of 2024-25 on the back of strong tower and colocation additions as well as significant collections of overdue from “a major customer”.
The December quarter had a write-back of Rs 3,024 crore in provision for doubtful receivables, aided by collections against past overdue. The consolidated profit after tax stood at Rs 4,003 crore, a 160 per cent year-on-year increase as compared to Rs 1,541 crore in Q3FY24.
