India's Indus Towers down premarket on Vodafone's stake sale in company

Indus Towers

19/06/2024 04:49

** Shares of telecom infra developer Indus Towers  INUS.NS 
down 4.5% at 329.1 rupees in premarket trade on Wednesday
    ** Vodafone Group  VOD.L  to sell about 10% stake in company
for as much as $1.1 billion as part of the British firm's
efforts to repay debt  urn:newsml:reuters.com:*:nL4N3IG0XS
    ** Analysts on avg. rate INUS "hold", with median PT of 350
rupees, higher than current trading price - LSEG data
    ** INUS up about 73% YTD vs Nifty mid-cap 100 index's
 .NIFMDCP100  ~20% rise
    

 (Reporting by Yagnoseni Das in Bengaluru)
 ((Yagnoseni.das@thomsonreuters.com))