India's Indus Towers gains as Citi says stock a 'buying opportunity'

Indus Towers

03/12/2025 05:54

** Shares of mobile tower operator Indus Towers INUS.NS rise 2.2% to 410.60 rupees

** Stock hits its highest level in more than two weeks

** Citi says stock offers compelling buying opportunity, boosted by remarks from telecom minister Jyotiraditya Scindia regarding AGR relief for INUS client Vodafone Idea VODA.NS

** Scindia's comments instill confidence and alleviate uncertainty surrounding the timing & contours of the govt's relief package for VODA - Citi

** Brokerage maintains PT of 500 rupees, reiterates "high-conviction buy" rating

** INUS rated "buy" on avg by 21 brokerages; median PT at 426 rupees - as per data compiled by LSEG

** YTD, Indus Towers up about 20%

 (Reporting by Brijesh Patel and Kashish Tandon in Bengaluru)

 ((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))