e.l.f. Beauty stock plummets 20% as revenue and guidance fall short of expectations
Investing.com - Kotak has reiterated its Buy rating on Indus Towers Ltd (NS:INDUSTOW) with a price target of INR400.00, citing the company’s recently announced expansion into Africa.
The research firm views Indus Towers’ African foray favorably, noting that the continent offers high growth opportunities, both organic and inorganic, due to significant network and subscriber under-penetration compared to India.
Kotak highlighted that Africa’s fragmented market structure differs from India’s consolidated landscape, creating potential advantages for Indus Towers as it enters the region.
The firm expects favorable tower economics in Africa, supported by high tenancy with Airtel Africa serving as the anchor tenant, along with partial linkage to US dollars in rental terms to hedge currency risk.
Investments in the initial years are expected to be measured and limited to less than 10% of free cash flow from operations, which Kotak believes will not interfere with Indus Towers’ dividend payouts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.