India's Indus Towers drops; Macquarie downgrades to 'underperform'

Indus Towers

07/07/2025 06:00

** Indus Towers INUS.NS drops 3.5% to 409.90 rupees

** Macquarie downgrades telecom infra provider to "underperform" from "neutral", retains PT of 350 rupees

** Says after two years of "strong" tower additions, growth rate expected to slow to less than 10% over FY25-28

** Adds despite tower additions from client Vodafone Idea VODA.NS, rental revenue/operator will not rise much because additions to VODA come at standard discounts

** Stock rated "hold" on avg; median PT is 407 rupees, per data compiled by LSEG

** INUS trims YTD gains to 20%

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))