Sell Indus Tower; target of Rs 270: ICICI Securities
Thu, May 2, 2024 1:52 PM

Sell Indus Tower; target of Rs 270: ICICI Securities

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ICICI Securities research report on Indus TowerIndus Towers’ (Indus) Q4FY24 performance was good on two counts: 1) strong net tenancy addition at 7,909 despite 429 exits; and 2) strong cash collection including INR 3bn collected towards past dues and interest on over dues. This has improved Indus’ cash conversion in FY24 (vs. FY23), and despite a significant jump in capex.

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