ICICI Securities recommended hold rating on Indus Tower with a target price of Rs 178 in its research report dated October 27, 2023.

Emkay Global Financial recommended hold rating on Indus Towers with a target price of Rs 195 in its research report dated October 26, 2023.

Motilal Oswal recommended Neutral rating on Indus Towers with a target price of Rs 170 in its research report dated October 26, 2023.

The company reported an increase of 16,286 towers on year-on-year basis, taking the total number to 2,04,212.

India-Canada relations has taken a hit in the last few days as Canadian Prime Minister Justin Trudeau alleged involvement of India in the killing of Khalistan Tiger Force Chief Hardeep Singh Nijjar, a few months back.

Motilal Oswal recommended Neutral rating on Indus Towers with a target price of Rs 170 in its research report dated July 28, 2023.

The major concern that analysts point out is if the high rate of tenancy addition is unlikely to sustain as Bharti Airtel is close to completing its rural 4G rollout and 5G rollout over the next 12 months will largely come as loading.

Key support for the Nifty was identified at 19,700, while resistance levels were observed at 19,900-20,000, providing crucial reference points for traders and investors.

INDUSTOWER 90% return possible from here, good for long term investment

As of 12.16 pm, the Nifty 50 index was up 0.36 percent or 70.80 points at 19,635.30. The Nifty Bank was down 0.12 percent or 52.35 points at 44,766.95.