Shares of Indus Towers rise as Nifty drops

Shares of Indus Towers Ltd. gained 0.93 per cent to Rs 293.5 in Wednesday's trade as of 10:36AM (IST). It hit a high of Rs 295.5 and low of Rs 289.0 during the session.

The stock quoted a 52-week high price of Rs 332.6 and a low of Rs 175.3. The return on equity for the stock stood at 23.8 per cent. About 42,824 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 outperformer, up 65.73 per cent in the past one year in comparison with a 41.1 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 175.3 on November 10, while the 50-DMA was at Rs 278.76. 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-Sep-2021. Mutual funds and foreign institutional investors held 0.34 per cent and 26.83 per cent stake.