Citi expects India's Indus Towers to rise 50% over 90 days; shares gain

Indus Towers

19/11/2024 07:26

** Analysts at Citi Research expects a 50.5% upside for
Indus Towers  INUS.NS  shares over a 90-day period
    ** Stock last up 3.2%
    ** While outcome of plea to recalculate telecom dues went
against telcos, many key positives have been ignored; maintains
buy on INUS at TP of 485 rupees - Citi
    ** Citi expects the telecom infrastructure provider to
benefit from upcoming pickup in tenancies from Vodafone Idea
 VODA.NS  starting Q3FY25, along with accelerated recovery of
past dues
    ** INUS' declining capex has been aiding its free cash flow
generation - Citi
    ** With co's management reiterating policy of paying out
100% of FCF, believe there is high likelihood of dividend
reinstatement by end of FY25 - Citi


 (Reporting by Aleef Jahan in Bengaluru)
 ((aleefjahan.cs@thomsonreuters.com))