India's Indus Towers gains on Supreme Court's decision on cenvat credit

Indus Towers

21/11/2024 04:52

** Shares of Indus Towers  INUS.NS  rise 2.5% to 332 rupees
    ** The integrated telecommunications services provider said
on Wednesday that the Supreme Court upheld a Delhi High Court
decision allowing cenvat credit, reducing its contingent
liability by 37.04 bln rupees ($438.8 mln)
    ** More than 8 mln shares change hands, 1.3x its 30-day avg
    ** 21 analysts covering the stock on average have a "hold"
rating; median PT is 385 rupees - LSEG data
    ** Stock up 65% so far this year



($1 = 84.4225 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))