India's Indus Towers gains on Q2 revenue rise; Jefferies upgrades stock

Indus Towers

28/10/2025 04:53

** Indus Towers INUS.NS rises 2.3% to 379.9 rupees, highest in nearly three months

** Mobile tower operator's Q2 consol revenue rises ~10% y/y

** Profit falls 17% y/y as expenses surge ~40% y/y

** Jefferies says results beat estimates across board

** Upgrades to "buy" from "hold"; hikes PT to 425 rupees from 345 rupees, ~15% premium to last close

** Says India's top court verdict allowing federal government to consider client Vodafone Idea's VODA.NS adjusted gross revenue grievances will improve co's tenancy outlook

** Adds development will improve visibility on dividends, trigger stock's re-rating

** INUS rated "buy" on avg; median PT at 408 rupees, per data compiled by LSEG

** YTD, stock gains 11%

($1 = 87.8950 Indian rupees)

 (Reporting by Manvi Pant)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))