Page 3 - Indus Tower News Today

IREDA Ltd, IRFC, Maruti Suzuki India Ltd, HUDCO, HDFC Bank Ltd and NBCC Ltd led the turnover chart, data on most-active stocks suggest.

Brokerage firm Goldman Sachs maintained a neutral rating on TVS Motor, Jefferies maintained a hold on IOC, Morgan Stanley recommended an Equal Weight rating on IOC, Jefferies has a buy rating on DLF and ICICI Securities downgraded Indus Towers.

The Nifty Future closed positive with gains of 1.39% at 21488 levels on Wednesday. India VIX was down by 3.21% from 14.85 to 14.38 levels. Volatility spiked to 15.6 zones but later cooled off which made the bulls at ease at crucial support zones.

Indus Towers recorded strong profits in Q3FY24, with a 94.5% sequential increase in other income to Rs 602 crore. This was due to an additional Rs 300 crore interest income from Vi, in addition to the Rs 300 crore collected towards past dues. Analysts believe Indus Towers profits in the December quarter was boosted by Vodafone Idea.

Indus Towers: As per Citi Research, after the latest payments, Vi’s old dues to Indus is now at Rs 5,700 crore. But, industry insiders, said this is most likely excluding the interest component on the past dues. Indus did not immediately respond to ET’s query on the total interest component on Vi’s backlog of past dues.

"Sanjiv Bhasin recommends looking at midcap IT and pharma stocks. Bank Nifty is oversold. HDFC Banks poor performance has affected the Bank Nifty. Smaller cap banks look promising. IndusInd, Axis, and ICICI are worth considering. Midcap IT and pharma sectors have potential. Long-term investors should take this opportunity to buy good stocks. IDFC First Banks NIMs are above 5%. IDFC First Bank is a fine option at Rs 80. GAIL, IndusInd, and HDFC are good largecap options. "

The recent $2.5-billion buyout of American Tower Corps India unit by Canadas Brookfield will give them more firepower to compete with Indus Towers. Both tower companies are expected to offer new products and aggressive rental deals while negotiating long-term tower contract renewals. This consolidation will result in two dominant towercos in the 3-player telco market, ensuring an overall balance in pricing power. Brookfields acquisition of ATC India will also boost Reliance Jios 5G rollout. The ...

Sanjiv Bhasin highlights the performance of the midcap index and the earnings of companies like REC, PFC, NBCC, GAIL, IREDA, and Colgate. He expresses optimism about the Bank Nifty and the stellar performance of ICICI Bank and PSU stocks. He mentions the underperformance of HDFC and the potential impact on its stock price. He also discusses the merger cancellation of Zee Entertainment and predicts changes in its ownership. He suggests considering largecap banks like ICICI Bank and identifies pot...

The emerging industry of spiritual tourism, which focuses on inner peace and connection with the divine, has gained popularity, especially after COVID-19. The Ayodhya Ram Mandir in Ayodhya is expected to become a hub for spiritual tourism, attracting thousands of visitors daily. The governments efforts to revive tourism sites and the contribution of tourism to Indias GDP make it an attractive sector for investors. Stocks in sectors such as hotels, travel, telecom, and infrastructure are expected...

As per analysts, the correction is likely to continue up to 20950-21000 but not linearly. There will be phases of dead-cat bounces from intermediate trading support levels. On the upside, it is unlikely that Nifty tests a new ATH at least in the Jan series. Immediate resistance has moved lower to 21850, above which 22100-150 will pose as a strong hurdle for the month.