Indus Towers share price: CLSA maintains 'outperform' call with a target price of Rs 575/share
Indus Towers shares in Thursday's trade were up 2 per cent as CLSA maintained its outperform call on the stock.
Indus Towers shares in Thursday's trade (September 5) traded with gains up to 2 per cent at Rs 442.55 at day's high. The gains in the stock were partly fuelled after Hong Kong-based brokerage iterated its 'outperform' rating on the stock with a target of Rs 575.
At the last count, shares of the company traded with gains of over 1 per cent at Rs 439.4 per share on the BSE.
CLSA said that the company will benefit from the expanding tower base of the major telecom players such as Bharti Airtel and Vodafone Idea. Also, the brokerage expects the company's EBITDA growth to be double than that of its peers.
The company is also seen to draw advantage from the decreasing capex over time.
In addition, the company is in receipt of the regulator fee from Vodafone Idea. Over FY24-27, the company's EBITDA is seen to log 10 per cent growth.
Valuations of Indus Towers
The stock trades at a reasonable valuation at 7x FY26CL Ebitda. Also, the company is expected to restore its dividend payout in FY25.
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