NSE: INDUSTOWER | BSE: 534816

Strong Performer, Under Radar

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414.00 -0.55 (-0.13%)

32.46% Gain from 52W Low

8.6M NSE+BSE Volume

NSE 21 Jan, 2026 3:31 PM (IST)

109,219.9

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Indus Towers Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for INDUSTOWER, BSE:534816 Indus Towers Ltd.

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Indus Towers Ltd.

18 Dec 2025

414.00

-0.13%

Risk reward uncompelling despite potential relief for Vi

Neutral: Indus Towers Ltd.

Motilal Oswal

Indus has been gaining market share in new tower builds as well as benefiting from the shift from other towercos in recent quarters, driven by its operational efficiencies and network uptime.

Number of FII/FPI investors decreased from 960 to 939 in Dec 2025 qtr

Indus Towers Ltd.

28 Oct 2025

414.00

-0.13%

Strong results; valuation push from client stability

Buy: Indus Towers Ltd.

Recommendation Target

Emkay

Indus Towers (Indus) reported strong results, with slightly higher revenue than street estimate and 50bps QoQ rise in EBITDA margin, adjusting for provision reversal.

Number of FII/FPI investors decreased from 960 to 939 in Dec 2025 qtr

Indus Towers Ltd.

28 Oct 2025

414.00

-0.13%

In-line 2Q; elevated capex hurts FCF generation

Neutral: Indus Towers Ltd.

Target

Motilal Oswal

Indus Towers’ (Indus) 2QFY26 was broadly in line with our estimates, with recurring EBITDA (excl. provision reversals) rising 3% QoQ to INR43.8b.

Indus Towers Ltd. is trading above its 200 day SMA of 385.1

Indus Towers Ltd.

01 May 2025

414.00

-0.13%

Tenancy net adds boosted from acquisition and VIL rollout

Sell: Indus Towers Ltd.

Target

ICICI Securities Limited

Indus Towers’ (Indus) Q4FY25 performance was good led by, excluding acquisition, tenancy addition of 8.2k, which was much better than tower net adds of 4.3k, implying a rising tenancy sharing ratio. Tenancy adds benefitted from network rollout by VIL; and 2) strong FCF in FY25, including provision reversals.

Indus Towers Ltd. is trading below its 30 day SMA of 421.3

Indus Towers Ltd.

01 May 2025

414.00

-0.13%

Operationally in line; dividend deferral disappointing

Neutral: Indus Towers Ltd.

Target

Motilal Oswal

Indus Towers (Indus)’ 4QFY25 reported financials were impacted by several one-offs on account of the consummation of tower purchases from Bharti Airtel, prior period revenue, and provision reversals.

Indus Towers Ltd. has an average target of 412.60 from 5 brokers.

Indus Towers Ltd.

17 Feb 2025

414.00

-0.13%

INDUS TOWERS LTD.

Buy: Indus Towers Ltd.

Target

Ventura

Update Note

Indus Towers Ltd. is trading below its 30 day SMA of 421.3

Indus Towers Ltd.

31 Jan 2025

414.00

-0.13%

INDUS TOWERS LIMITED

Buy: Indus Towers Ltd.

Target

FundsIndia

Number of FII/FPI investors decreased from 960 to 939 in Dec 2025 qtr

Indus Towers Ltd.

23 Oct 2024

414.00

-0.13%

Core performance slightly weaker

Neutral: Indus Towers Ltd.

Target

Motilal Oswal

Indus’ 2QFY25 reported financials came in ahead of our estimate owing to a higher-than-estimated reversal of prior period bad debt provisions (INR10.8b vs. our estimate of INR5b).

Indus Towers Ltd. has an average target of 412.60 from 5 brokers.

Indus Towers Ltd.

22 Oct 2024

414.00

-0.13%

Provision recovery continues aiding earnings

Sell: Indus Towers Ltd.

Target

ICICI Securities Limited

Indus Towers’ (Indus) Q2FY25 performance was good on two counts: 1) stable net tenancy addition at 4,308 with some benefit already showing from VIL/BSNL rollout; and 2) strong cash collection, including INR 10.8bn collected towards past overdue.