Vodafone Idea’s long-term biz concerns remain an overhang for Indus Towers: Report

New Delhi: The 5G opportunities and growth momentum cited by Indus Towers’ management notwithstanding, the long-term business concerns of large client Vodafone Idea remain an overhang for the tower company, according to a report. Motilal Oswal Institutional Equities in its recent note on Indus Towers’ financial results said revenue remains in line, amid improving tenancy additions.

“The management continues to reiterate that 5G and fibre opportunities would continue to drive growth in the future as dependency on strong telecom infrastructure remains. Tenancy additions have also improved in the past three quarters…which signifies demand for new towers,” it said.