Indus Towers stock falls over 4% as BNP calls cash conservation move ‘perplexing’

Indus Towers shares fell over 4% in trade on Friday, a day after the passive telecom infrastructure company announced it would conserve cash in the short term and not return it to shareholders.

In afternoon trade, Indus stock was down 4.1% at ₹347.75 on the BSE.

“Indus Towers’ Q1FY26 results were slightly below our estimates, with rental revenue and EBITDA 1% lower than expected, while maintenance capex was higher. We are disappointed by the board’s decision to conserve cash, attributing it to the evolving industry landscape, elevated capex, and potential inorganic growth opportunities,” brokerage BNP said in a report.