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Indus Towers shares gain over 8% as Jefferies maintains ‘buy’

In the previous trading session, Indus Towers closed down 18.09 percent or Rs 45.45 at Rs 205.75

February 25, 2022 / 12:39 PM IST
 
 
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Indus Towers share price rose over 8 percent to Rs 223 intraday on February 25 after foreign research firm Jefferies maintained the 'buy' call on the stock.

Jeffery's has, however, cut the target price to Rs 295 from Rs 320 per share.

In the previous trading session, Indus Towers closed down 18.09 percent or Rs 45.45 at Rs 205.75.

According to firm, the Vodafone's stake sale may be a near-term overhang, while risk-reward is very favourable after a steep correction. The stock is factoring no rental escalation from the next renewal cycle.