NSE: INDUSTOWER | BSE: 534816

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393.55 -5.05 (-1.27%)

25.92% Gain from 52W Low

8.0M NSE+BSE Volume

NSE 25 Jun, 2026 3:31 PM (IST)

103,824.9

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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.

02 May 2026

393.55

-1.27%

Slightly weaker 4Q; elevated capex weighs on FCF generation in FY26

Neutral: Indus Towers Ltd.

Target

Motilal Oswal

Indus Towers’ (Indus) 4QFY26 was slightly weaker than our estimates, with recurring EBITDA (excl. provisions) declining 1% QoQ to INR44.3b.

Indus Towers Ltd. is trading below all available SMAs

Indus Towers Ltd.

02 May 2026

393.55

-1.27%

Dividend payout missed expectation; growth rate moderate

Sell: Indus Towers Ltd.

ICICI Securities Limited

Indus Towers’ (Indus) Q4FY26 EBITDA print was impacted by multiple one-offs and higher seasonal maintenance costs; therefore, reported EBITDA growth appeared soft.

Indus Towers Ltd. is trading below all available SMAs

Indus Towers Ltd.

04 Feb 2026

393.55

-1.27%

INDUS TOWERS LIMITED

Buy: Indus Towers Ltd.

Recommendation Target

Geojit BNP Paribas

As per market consensus, Indus Towers is currently trading at a 1year fwd. P/E of 15x ( 3 year Avg P/E of 12x). Indus Towers is advancing its strategic expansion into African markets while maintaining a strong focus on operational excellence, digital transformation, and customer...

Indus Towers Ltd. has an average target of 447.50 from 4 brokers.

Indus Towers Ltd.

03 Feb 2026

393.55

-1.27%

In-line 3Q; tenancy additions pick-up key monitorable

Neutral: Indus Towers Ltd.

Target

Motilal Oswal

Indus Towers’ (Indus) 3QFY26 was broadly in line with our estimates, with recurring EBITDA (excl. provision reversals) rising 2% QoQ to INR44.7b. Operationally, tenancy additions picked up QoQ (after a subdued 2Q), driven by acceleration in Vi’s rollouts during 3Q.

Number of FII/FPI investors increased from 939 to 947 in Mar 2026 qtr.

Indus Towers Ltd.

18 Dec 2025

393.55

-1.27%

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.

Indus Towers Ltd. has an average target of 447.50 from 4 brokers.

Indus Towers Ltd.

28 Oct 2025

393.55

-1.27%

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 increased from 939 to 947 in Mar 2026 qtr.

Indus Towers Ltd.

28 Oct 2025

393.55

-1.27%

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. has an average target of 447.50 from 4 brokers.

Indus Towers Ltd.

01 May 2025

393.55

-1.27%

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. has an average target of 447.50 from 4 brokers.

Indus Towers Ltd.

01 May 2025

393.55

-1.27%

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.