Buy Indus Towers, target price Rs 220: Sharekhan

Sharekhan has buy call on Indus Towers with a target price of Rs 220. The current market price of Indus Towers Ltd. is Rs 207.4. Time period given by analyst is Intra Day when Indus Towers Ltd. price can reach defined target.

Indus Towers Ltd., incorporated in the year 2006, is a Large Cap company (having a market cap of Rs 55919.94 Crore) operating in Telecommunications sector.

Indus Towers Ltd. key Products/Revenue Segments include Income from Infrastructure Activity for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 7225.30 Crore, up 2.91 % from last quarter Total Income of Rs 7021.30 Crore and up 9.99 % from last year same quarter Total Income of Rs 6569.10 Crore. Company reported net profit after tax of Rs 1828.50 Crore in latest quarter.

Investment Rationale
Broken out from an Inside bar pattern on the weekly chart. Surpassed crucial daily moving averages.

Promoter/FII Holdings
Promoters held 67.49 per cent stake in the company as of 31-Mar-2022, while FIIs owned 30.47 per cent, DIIs 0.7 per cent.