Shares of Indus Towers fall as Nifty drops

Shares of Indus Towers Ltd. slipped 1.1 per cent to Rs 212.1 in Tuesday's trade as of 01:16PM (IST). It hit a high of Rs 214.95 and low of Rs 210.45 during the session.

The stock quoted a 52-week high price of Rs 282.0 and a low of Rs 161.3. The return on equity for the stock stood at 23.8 per cent. About 38,629 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.34.

The scrip has been an underperformer, up 6.18 per cent in the past one year in comparison with a 46.67 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 161.3 on August 17, while the 50-DMA was at Rs 233.38. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 41.73 per cent stake in Indus Towers Ltd. as of 30-Jun-2021. Mutual funds and foreign institutional investors held 0.49 per cent and 26.76 per cent stake.