Shares of Indus Towers- the telecom infra company are likely to see traction as a large trade of 80 lakh shares is expected in the counter via a block deal with deal size expected at Rs 270 crore. The block deal is seen to be executed at a discount of 2 per cent over the last traded price.

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Earlier in a special trading session conducted on Saturday, the stock of Indus Towers closed higher by 0.09 per cent at Rs 344.75 apiece on the BSE.

As per reports, a foreign institutional investor was likely to offload stake in the counter via a block deal today (May 21, 2024). Kotak Securities is the likely deal broker.

Earlier this year in February, Indus Towers recorded a block deal valued at Rs 5,229 crore, through 24.7 crore shares.

Indus Towers Q4 results

For the quarter ended March 31, 2024, the company’s consolidated revenue soared 6.5 per cent on-year to Rs 7,193 crore, while EBITDA came in higher by 19 per cent on-year to Rs 4,103 crore. Furthermore, PAT or profit after tax at the infra major has been logged at Rs 1,853 crore, up 32.4 per cent year-on-year (YoY). The company also said that record tower additions during the period helped surpass the milestone of 200,000 towers. 

Indus Towers share price performance

Over the past year, the stock has gained in price by as much as 138 per cent.