Indus Towers shares down 0.29% as Sensex falls

Shares of Indus Towers Ltd. fell 0.29 per cent to Rs 219.85 in Wednesday's session as of 12:17PM (IST) even as the equity benchmark Sensex traded 399.08 points lower at 59777.42.

Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 332.6 and a 52-week low of Rs 194.25 on NSE. Around 120867 shares changed hands on the counter till 12:17PM (IST).

The stock opened at Rs 220.0 and has touched an intraday high and low of Rs 222.35 and Rs 218.5 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 10.02, earnings per share (EPS) of Rs 21.92 and price to book value (PB) of 4.16, while the return on equity (ROE) stood at Rs 23.8.

Promoter/ FII Holding
The promoters held 69.85 per cent stake in the company as of April 06, while FII and MF ownerships stood at 28.43 per cent and 0.8 per cent, respectively.

Key Financials
With a market capitalisation of Rs 59180.82 crore, the company operates in the Telecommunications - Allied Services industry. For the quarter ended 31-Dec-2021, the company reported consolidated sales of Rs 7021.3 crore, up 0.75 per cent from the previous quarter?s Rs 6969.2 crore and up 69.53 per cent from the same quarter a year ago. The company reported net profit of Rs 1570.8 crore for the latest quarter, up 60.43 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 49.69. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.