INDUS TOWER

22 sept.

Date 22.09.2024
Indus Tower
Timeframe : Day chart

Remarks :
1 Formed a strong support trendline since December 2023 which was re-tested by 4 times & had sharp bounce from there

2 On recent closing formed Inside Bar after long selling candle.

3 At RSI it is in Oversold region.

4 Trade set-up will be Inside bar, High-Low break

5 If breaks out the Inside Bar high then Target 1 = 61% of Fibonacci, Target 2 = 50% of Fibonacci & Target 3 = 50% of Consolidation zone

6 If breaks down then, it will break the cloud followed by Target 1 = 365 & then will approach support trendline, if breaks support trendline as then sell/short entry Target = 200 ema

7 Being at oversold & inside bar looks like will break upwards.


Today's news which is mentioned below :

(I) Vodafone Idea has concluded a mega $3.6 billion (Rs 300 billion) deal with Nokia, Ericsson and Samsung, for supply of network equipment over a period of three years

(II) Vodafone Idea, holds a 21.5% stake in Indus Towers, India's largest mobile tower installation company

(III) Government of India has stake in Vodafone Idea
of 23.8% as of September 2024

Indus Towers Recent Performance :

Profit Growth = 195.65 %
ROE = 25.08 %
ROCE = 34.91%
Sales Qtr Rs = 7383 Cr
PAT 12M Rs = 6614.20 Cr
P/E = 15.48
Operating Margin = 60 % (approx)
FII = 23 % (approx)
DII = 17% (approx)

Hence, quite decent company looking at business, clients, company's physical assets & cash flows.

Regards,
Ankur Singh