Indus Towers rises 2.87% as Sensex climbs
Indus Towers is an independently managed company offering passive infrastructure services to all telecom operators and other wireless service providers such as broadband service providers.
Moreover, incorporated in November 2007, Indus Towers Limited has been promoted under a joint venture between entities of Bharti Infratel Limited and Vodafone Idea Limited to render passive infrastructure services to telecom service providers.
Share of Indus Towers Ltd traded at Rs. 258.4 on BSE at 10:05 AM (IST) on Friday, up 2.87 percent from the previous close. The stock quoted a 52-week low price of Rs. 149.55 and a high of Rs. 282.00. Earlier, shares of the company saw an opening in the morning.
On the other side, a total of 55,017 lakh shares changed hands on the counter till 10:05 (IST). The stock of Indus Towers Ltd commanded a market value of Rs. 69,569.8 crore as per BSE. The stock traded at a price-to-earnings (P/E) multiple of 22.7. While the price-to-book value ratio stood at 2.19. Return on equity (ROE) was at 24.35 percent, as per exchange data.
While in the BSE 500 pack, 406 stock traded in the green, while 92 stocks were in the red. The stocks beta value, which measures volatility in relation to the broader market, stood at 0.34.
Promoters held 41.73 percent in Indus Towers Ltd as of December 31st, 2020. While overseas and domestic institutional investors own 26.63 percent and 0.48 percent, respectively.
The 200-DMA of the stock stood at 220.7 on April 16th. While the 50-DMA was at 254.17. If a stock trades below 50-DMA and 200-DMA, it usually means the immediate trend is upward.
On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend, and if trades between 50-DMA and 200-DMA, then it suggests the stock can go either way.
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