Indus Towers Ltd Share Price – NSE  /  BSE

Telecomm Equipment & Infra Services, Mid Cap

Securities in F&O ban: Balrampur Chini Mills, Chambal Fertilizers, Hindustan Aeronautics, Hindustan Copper, India Cements, Indus Tower, PEL, and Sail.

Indus Towers: Vodafone Telecommunications India sold 26.56 crore shares (9.86%) between Rs 315.99 and 325 per share; Al-Amin Investments sold 2.08 crore shares (0.77%) at Rs 314.54 apiece; and Asian Telecommunication Investments (Mauritius) sold 2.51 crore shares (0.93%) at Rs 311.4 apiece. Prime Metals offloaded 5.6 crore shares (2.07%) at Rs 311.51 apiece and Mobilvest sold 4.29 crore shares (1.59%) at Rs 311.4 apiece.

On the other hand, Bharti Airtel bought 2.69 crore shares (0.99%) at Rs 320 apiece, SBI Mutual Fund bought 3.58 crore shares (1.32%) at Rs 311.4 each, Authum Investment And Infrastructure bought 1.49 crore shares (0.55%) at Rs 321.81 apiece and Ghisallo Capital Management LLC bought 1.98 crore shares (0.73%) at Rs 311.4 apiece.

Gland Pharma: Fosun Pharma Industrial sold 99 lakh shares (6.01%) at Rs 1,771.81 per share, while UBS Principal Capital Asia bought 8.25 lakh shares (0.5%) at Rs 1771.05 each.

Advanced Enzyme Technologies: Motilal Oswal Financial Services bought 1.1 crore shares (9.88%) at Rs 385 per share, while Orbimed Asia III Mauritius sold 1.1 crore shares (9.88%) at Rs 385 each.

Redtape's promoter Rashid Ahmed Mirza bought 32,500 shares on June 18th.

Godrej Industries will be watched as CCI has approved the proposed family group re-alignment.

Avenue Supermarts (DMart) has opened a new store in Tamil Nadu today. The total number of stores as of date stands at 369.

Som Distilleries and Breweries will be in focus as the Madhya Pradesh government suspended the license of Som Distilleries due to concerns about child labour. SDPL is part of the Som Group of companies, which also has Som Distilleries and Breweries., a listed firm, under its umbrella.

Eimco Elecon (India) received an order worth Rs 33.11 crore from The Singareni Collieries Company for the supply of coal mining equipment.

Sapphire Foods India's board approved splitting each share into 5.

Chemplast Sanmar's board is set to meet on June 24th to consider fundraising.

Indian Oil Corporation entered a joint venture with GPS Renewables for Sustainable Energy Solutions.

Sun Pharmaceutical Industries received a warning letter from the US FDA for the Dadra facility. The US FDA warning letter summarises current good manufacturing practice regulations.

Kaynes Technology India incorporated a wholly owned subsidiary named Kaynes Holding.

PNC Infratech’s MD and Director appeared before CBI. The company’s operations are functioning without any impediment. The company will cooperate with law enforcement agencies.

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As per media reports, Vodafone Group was to sell almost 18% stake in Indus Towers for up to $2 billion. The shares of Indus Towers have exchanged hands in the price range of Rs 310 and Rs 341 apiece, the reports added.

In 2022, Vodafone had reportedly announced its intention to sell its entire stake in Indus Towers.

On the basis of the intraday movement of Indus Towers scrip, the block deal seems to have taken place in the initial period of today’s trading session.

On the NSE, the stock opened 4.48% lower today at Rs 329.1 compared to its previous close of Rs 344.55. It then witnessed a steeper decline, reaching a day's low of Rs 320.6, marking a 9.62% drop from its previous close.

However, value buying emerged at these lower levels, prompting a partial recovery. The stock climbed 7.26% from its intraday low and closed the day at Rs 334.40.

Over 83.21 crore shares of Indus Towers changed hands at the counter on the NSE, a massive jump compared to the average daily volume of 1.80 crore shares in the past three months.

Trading volume surged on the BSE as well. More than 4.61 crore shares were traded today, which is a significant increase when compared to the average daily trading volume of 6.67 lakh shares for the past three months.

In a regulatory filing made during market hours today, Bharti Airtel, one of the promoters of Indus Towers, said that the ‘special committee of directors for evaluation of stake in subsidiaries and joint ventures’ today (June 19) has approved the acquisition of upto 27 million equity stake in Indus Towers.

Accordingly, Bharti Airtel has acquired nearly 26.95 million (i.e. 1%) equity shares of Indus Towers today on-market.

Bharti Airtel has held over 129.22 crore share, representing 47.95% stake, in Indus Towers as on 31 March 2024.

Indus Towers is India's leading provider of passive telecom infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators.

The company's consolidated net profit had risen 32.45% to Rs 1,853.10 crore on a 6.52% increase in revenue to Rs 7,193.20 crore in Q4 FY24 as compared to Q4 FY23.

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Net profit of Indus Towers rose 32.45% to Rs 1853.10 crore in the quarter ended March 2024 as against Rs 1399.10 crore during the previous quarter ended March 2023. Sales rose 6.52% to Rs 7193.20 crore in the quarter ended March 2024 as against Rs 6752.90 crore during the previous quarter ended March 2023.

For the full year,net profit rose 195.89% to Rs 6036.20 crore in the year ended March 2024 as against Rs 2040.00 crore during the previous year ended March 2023. Sales rose 0.77% to Rs 28600.60 crore in the year ended March 2024 as against Rs 28381.80 crore during the previous year ended March 2023.

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Indus Towers will hold a meeting of the Board of Directors of the Company on 30 April 2024.

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