Buy Indus Towers, target price Rs 320: ICICI Direct

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Buy Indus Towers, target price Rs 320:  ICICI Direct


ICICI Direct has buy call on Indus Towers with a target price of Rs 320. The current market price of Indus Towers Ltd. is Rs 270.

Indus Towers Ltd., incorporated in the year 2006, is a Large Cap company (having a market cap of Rs 73234.91 Crore) operating in Telecommunications sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 4141.60 Crore, up 131.56 % from last quarter Total Income of Rs 1788.60 Crore and up 145.87 % from last year same quarter Total Income of Rs 1684.50 Crore. Company reported net profit after tax of Rs 703.00 Crore in latest quarter.


Investment Rationale
From November to the first half of January, the stock witnessed an impulsive up move from Rs 180 to Rs 270 levels. Since then, it has remained largely range bound with time and price based correction. This recent decline towards Rs 235 has given another opportunity to go long in the stock for fresh upsides.





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