should you buy indus towers bse nse share price target vodafone plc exits Vodafone idea debt settlement

Indus Towers shares in Friday trade continued their gains for the fourth consecutive session as markets awaited RBI’s MPC decision. At the time of writing this copy, shares of the telecom equipment are trading with a gain of 0.19 percent or Rs 0.7 per share at Rs 364.2 per share.

In the last 4 trading sessions, the stock has risen up to 8 percent and is currently trading at a 106 percent gain from its 52-week low.

On Thursday, in a Rs 2,800 crore block deal Vodafone PLC completely exited the company and received a profit the company will reduce the debt burden of Vodafone Idea.

Additionally, after the sale of the Vodafone stake, around 15 fund houses bought a stake in the company. Morgan Stanley Asia bought 2.1 crore equity shares, while Kotak Mahindra Fund bought 1.45 crore shares.

In addition, BofA Securities also bought part of the telecoms stake – adding 1.23 crore equity shares to its portfolio.