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Centrum Broking Report
Centrum Broking maintains Buy rating on Indus Towers Ltd., driven by improving revenue visibility and steady tenancy-led growth, supported by rising data usage and ongoing 5G expansion.
Adjusted gross revenue relief has strengthened Vodafone Idea Ltd. balance sheet, enhancing long-term earnings predictability. Margin pressures are largely optical, with core profitability and energy efficiencies improving. Strong free cash flow, with disciplined overseas expansion providing optional upside.
The brokerage expects revenue/Ebitda/PAT to clock a CAGR of 9.3%/1.5%/11.2% over FY25-FY28E. Anand Rathi revises FY26E/FY27E/FY28E EPS by 0.3%/ (3.5%)/ (2.4%).
The brokerage rolls over to Mar'28E and maintain Buy with a revised target price of Rs 523 (vs Rs 503 earlier) at a PE of 16.0x on Mar' 28E earnings per share.
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Also Read: Zydus Wellness Q3 Review: Anand Rathi Stays 'Buy' Despite Mixed Numbers — Check Revised Target Price
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