Indus Towers hits over 8-month low on growth concerns

Shares of Indus Towers dipped 6.5 per cent to Rs 207.75, hitting an over eight-month low on the BSE in intra-day trade on Wednesday, in an otherwise strong market, amid growth concerns. The stock was trading at its lowest level since November 20, 2020. Indus’ share price has underperformed the market owing to concerns over its key tenant Vodafone Idea’s (VIL) survival.

Indus Towers Limited (formerly Bharti Infratel Limited) is India’s leading provider of passive telecom infrastructure and it deploys, owns and manages telecom towers and communication structures, for various mobile operators. It caters to all wireless telecommunication service providers in India.