Sell Indus Towers, target price Rs 172: Nuvama Wealth brokerage

Nuvama Wealth brokerage has sell call on Indus Towers with a target price of Rs 172. The current market price of Indus Towers is Rs 182.25. Nuvama Wealth brokerage recommended to keep stop loss at Rs 191.5.
Indus Towers, incorporated in the year 2006, is a Large Cap company (having a market cap of Rs 49196.07 Crore) operating in Telecommunications sector.

Indus Towers key Products/Revenue Segments include Income from Infrastructure Activity for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 8029.50 Crore, up 14.87 % from last quarter Total Income of Rs 6989.80 Crore and up 15.21 % from last year same quarter Total Income of Rs 6969.20 Crore. Company has reported net profit after tax of Rs 871.80 Crore in latest quarter.

The company’s top management includes Mr.N Kumar, Mr.Sonu Bhasin, Mr.Sharad Bhansali, Mr.Thomas Reisten, Mr.Ravinder Takkar, Mr.Randeep Singh Sekhon, Mr.Rajan Bharti Mittal, Mr.Gopal Vittal, Mr.Harjeet Singh Kohli, Mr.Sunil Sood, Mr.Bimal Dayal, Ms.Anita Kapur. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-06-2022, the company has a total of 269 Crore shares outstanding.

Rationale
On the swing charts, stock has failed to give a bullish follow-through in its recent pullback.

Promoter/FII Holdings
Promoters held 68.81 per cent stake in the company as of 30-Jun-2022, while FIIs owned 29.02 per cent, DIIs 0.56 per cent.