Bharti Airtel-Backed Telecom Infrastructure Company Hits 52-Week High Today; Stock Trading at Low PE Compared to Peers: Must Watch
The company’s shares have delivered impressive multibagger returns of over 127 per cent in just 1 year.
Indus Towers Limited operates in the business of setting up, operating, and maintaining wireless communication towers. The company is a leading provider of tower and related infrastructure-sharing services in India. Known for its extensive network, Indus Towers manages a significant number of towers and co-locations, serving wireless telecommunication service providers under long-term, shared-access contracts. Today the company saw a significant spike in both the share price and volumes in today.
At the start of the day's trading session, the share of Indus Towers Limited opened at Rs 374.95 per share, compared to the previous day's closing figure of Rs 365.65 per share on the BSE. Currently while writing the article, the shares are at around Rs 374.60 per share on the BSE. The stock has attracted a heavy volume today, reflecting strong demand in the market, and hits a 52-week high. The current market capitalization stands at Rs 101343 crore, and the stock has generated an impressive multibagger return of around 127 per cent in just 1 year.
Financial Performance
As per the Quarterly Results, in the fourth quarter of FY24, Indus Towers Limited recorded a revenue of Rs 7193 crore. The operating profit for Q4 FY24 stood at Rs 4072 crore. The net profit for Q4 FY24 was Rs 1853 crore. Looking at the annual performance, the company generated a revenue of Rs 28601 crore in FY24, compared to Rs 28382 crore in FY23. The operating profit for FY24 was Rs 14557 crore, with a net profit of Rs 6036 crore.
Regarding the shareholding pattern, the promoters own 68.99 per cent of the company and the public or retail investors hold 4.68 per cent. FIIs and DIIs hold 16.40 per cent and 9.90 per cent respectively.
Investors must keep this Large-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.
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