Is Indus Towers Facing a Perfect Storm? 5 Key Reasons Investors Can’t Ignore Jefferies’ Downgrade

Jefferies has downgraded Indus Towers to ‘Underperform’ with a revised target price of Rs 375, implying a downside of about 14%, citing a bunching up of tower contract renewals over the next two years and sustained pressure from elevated capital expenditure.

The brokerage has trimmed revenue and profit estimates and expects modest earnings growth alongside weaker cash flows and dividend payouts. It sees limited re-rating potential as growth risks remain visible and cost pressures build up.