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Indus Towers Q2 Review: ICICI Securities Maintains 'Reduce', Sees 15% Downside — Check New Target Price
ICICI Securities tweaks Indus Towers' FY26/27E earnings per share and now expects slight slower tenancy growth, hence maintains 'Reduce' on the stock.
29 Oct 2025, 02:48 PM IST 
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Indus Towers is planning to foray into Africa tower market initially with three countries - Nigeria, Uganda and Zambia.
(Photo source: Freepik)
Indus Towers reported tenancy benefitted from gross addition of 4,800, but was hit by 295 exits. Tower addition stood at 4,301, which reflects reduced rollout intensity from Vodafone Idea.
