Latest news with #IndusTowers
Business Standard
3 days ago
- Business
- Business Standard
Indus Towers receives upgrade in ratings for LT bank facilities
From CRISILIndus Towers announced that CRISIL Ratings has upgraded the rating on the long-term bank loan facilities and Rs. 1,750 crore bond (debt instruments) of Indus Towers ('the Company') from 'Crisil AA+/Positive' to 'Crisil AAA/Stable'. Further, credit rating assigned to Rs. 375 Crore bond (debt instruments) has been 'withdrawn' as they have been rating for short-term bank loan facilities and Commercial Papers is reaffirmed as Crisil A1+. Powered by Capital Market - Live News
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Business Standard
03-07-2025
- Business
- Business Standard
Trading guide: Nifty reflects caution; PNB, Indus Towers top stocks to buy
Market View Markets traded volatile and ended marginally lower, continuing the prevailing consolidation phase. After an initial uptick, the Nifty gradually drifted lower through most of the session; however, a bounce in the final hour helped trim some losses. Eventually, the Nifty50 index settled at 25,453.40, down by 0.35 per cent. On the sectoral front, the trend remained mixed, with metals, pharma, and auto sectors ending in the green, while realty and banking came under pressure. The broader indices also witnessed choppy trade and closed flat to marginally in the red. While global markets continue to display strength, the recent pause in Nifty reflects caution, as participants await fresh triggers to resume the uptrend. We recommend maintaining a positive bias while focusing on stock selection, especially in sectors showing relative outperformance, with an eye on the risk-to-reward ratio. Stocks Recommendations Buy Indus Towers | LTP: ₹423.25 | Target: ₹450 | Stop-loss: ₹408 Indus Towers has been consolidating in a cup and handle formation over the past nine months, following a correction from its record high of ₹460.30. During this phase, the stock established a strong base above the neckline of its previous breakout zone and consistently held above key moving averages, underscoring the strength in its structure. Buy Punjab National Bank | LTP: ₹113.85 | Target: ₹121 | Stop-loss: ₹109 Following a prolonged corrective phase, PNB stock is showing strong signs of a trend reversal. The stock first breached its daily trend line resistance while forming an Inverted Head and Shoulders pattern. A subsequent breakout above the neckline provides dual confirmation of the reversal and signals the beginning of a fresh uptrend. This setup offers a favourable opportunity to initiate long positions at the recommended levels. Buy Steel Authority of India | LTP: ₹137.48 | Target: ₹148 | Stop-loss: ₹132 Metal stocks are seeing renewed buying interest, and SAIL is moving in line with the trend. The SAIL stock has been gradually inching higher following a breakout from its corrective phase. It has now formed a fresh buying pivot after a brief dip, demonstrating continued strength.
Mint
23-06-2025
- Business
- Mint
F&O Strategy: Indus Towers to CDSL— Rupak De suggests buy or sell strategy for THESE stocks
Stock market today: The domestic benchmark indices, Nifty 50 and Sensex, started off lower on Monday, mirroring trends in Asia, as the US launched strikes on significant Iranian nuclear facilities over the weekend, increasing concerns about global trade activities. The US's military action against key Iranian nuclear sites represents the largest Western strike against the Islamic Republic since the 1979 revolution, in collaboration with Israel. As of 9:15 IST, the Nifty 50 had decreased by 0.69% to 24,939.75, while the Sensex dropped by 0.85% to 81,704.07. According to Rupak De of LKP Securities, as long as the index stays above 24,850, it remains a 'buy on dips' market. On the upside, Nifty 50 could head towards 25,350. De recommends buying Indus Towers, Nava, and Central Depository Services (India) amidst Israel-Iran War. After three days of consolidation, Nifty 50 saw a sharp bounce, signaling a resumption of its short-term uptrend. It has also reclaimed the 21-day EMA, which adds strength to the current momentum. As long as the index stays above 24,850, it remains a 'buy on dips' market. On the upside, Nifty 50 could head towards 25,350 and possibly even higher. Open Interest Analysis: Significant open interest additions were observed in 25,000 and 25,100 Puts and while some OI addition seen at 25,400 Calls; however, Call writings were relatively muted on Friday. Maximum OI buildup was seen at 25,500 CE. Meanwhile, substantial put writing at the 25,000 strike. Strategy: Strength might increase if Nifty 50 sustains above 25,100. Trade: Buy Nifty June 25,200CE Above 110 TGT 180 SL 69. Indus Towers share price has moved up sharply following a period of sideways consolidation on the daily chart, indicating rising optimism. Moreover, the 21EMA and 50EMA have given a bullish crossover, supporting the positive view. The RSI is in a bullish crossover and rising. The current setup aligns well with a bullish outlook, with the price likely to rise towards ₹ 430. On the lower end, support is placed at ₹ 389. Nava share price has given a rounding bottom breakout on the daily chart, suggesting bullishness. In addition, the 21EMA and 50EMA have given a bullish crossover, reinforcing the positive view. The RSI is in a bullish crossover and rising on the hourly chart. The current setup supports a bullish outlook, with the price expected to move towards ₹ 600. On the lower end, support is placed at ₹ 539. After a brief correction, the stock looks poised to rise again. The price found support at the 21EMA before moving higher, signalling positive sentiment. The RSI is in a bullish crossover and rising on the hourly chart, indicating early signs of strengthening momentum. The current setup supports a bullish view, with the price likely to move towards ₹ 1,900. On the lower end, support is placed at ₹ 1,629. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
Mint
23-06-2025
- Business
- Mint
Top three stocks to buy today, 23 June, as recommended by Ankush Bajaj
On Friday, 20 June, the Indian stock market opened with a sharp gap-down, driven by global nervousness and initial profit-booking. However, as the session progressed, investor sentiment improved, and the market steadily moved upward throughout the day. The recovery was broad-based, reflecting strong buying interest and resilience across key sectors. Top 3 stocks for today, recommended by Ankush Bajaj Why it's recommended:Indus Towers has broken out of a falling wedge pattern on the daily chart — a bullish reversal structure that indicates potential for trend reversal. Additionally, on the 45-minute chart, the stock has confirmed a triangle breakout, adding to the bullish conviction. The Relative Strength Index (RSI) on the daily chart is at 62.90, suggesting strengthening momentum. Key metrics: Resistance level: ₹419 (short-term target) Support level: ₹397 (pattern invalidation level) Pattern: Falling wedge breakout on the daily chart; triangle breakout on the 45-min chart. RSI: 62.90 on daily chart, indicating bullish strength Technical analysis:The confluence of breakouts on both daily and intraday timeframes strengthens the bullish view. The RSI in the 60+ zone reflects solid momentum, and the breakout structure is clean. A move above ₹419 could open up further upside in the short term, provided the breakout sustains with volume confirmation. Risk factors:Failure to hold above ₹397 would invalidate the bullish pattern and may lead to selling pressure. A lack of volume follow-through may weaken the breakout signal. Buy at: ₹404.30 Target price: ₹419 Stop loss: ₹397 Also read: Fed's forecast 'Fog' adds more clouds to stock market outlook Why it's recommended:BEL has closed at a new all-time high, indicating strong bullish sentiment. The RSI is above 72 on the daily chart, showing strong momentum and suggesting the trend may continue. On the 15-minute chart, a rectangle breakout has been confirmed, supporting a continuation of the uptrend in the near term. Key metrics: Resistance level: ₹426– ₹430 (short-term target range) Support level: ₹396 (pattern invalidation level) Pattern: Rectangle breakout on the 15-min chart; breakout to new life-time high on daily chart RSI: Above 72 on daily chart, suggesting overbought strength and trend continuation Technical analysis: BEL is showing strong price action with volume support at higher levels. The breakout above its previous high, combined with short-term consolidation breakout, makes it a high-conviction trade. While the RSI is in the overbought zone, this can persist during strong trends. Risk factors: High RSI may lead to brief consolidations or minor pullbacks. A drop below ₹396 would negate the current bullish structure. Buy at: ₹408.25 Target price: ₹426– ₹430 Stop loss: ₹396 Why it's recommended: Aeroflex has delivered two consecutive strong green sessions accompanied by high volume, indicating strong buying interest. The stock is showing positive relative strength and is currently in a healthy pullback mode, which offers a good entry point in the broader uptrend. Key metrics: Resistance level: ₹235– ₹240 (short-term target range) Support level: ₹189 (pattern invalidation level) Pattern: High-volume continuation with positive relative strength and pullback support RSI: Not overbought; momentum building with volume support Technical analysis:The stock is showing signs of sustained strength after a recent correction, with increasing volume lending credibility to the bounce. Positive relative strength suggests it is outperforming its peers, and the setup indicates potential for continued upside toward ₹235– ₹240. Risk factors:Any dip below ₹189 could suggest a failed pullback and may invite selling. Volume needs to remain elevated to confirm the current momentum. Buy at: ₹204.45 Target price: ₹235– ₹240 Stop loss: ₹189 Also read: Paint industry's first dip in 20 years—is a rebound next? How the market performed on Friday The Nifty 50 ended the session 319.15 points or 1.29% higher to close at 25,112.40. The BSE Sensex also closed in the green, gaining 1,046.30 points or 1.29% to finish at 82,408.17. Nifty Bank also saw weakness early on but recovered ground, ending 675.40 points or 1.22% higher at 56,252.85. The realty index gained 2.11%, infrastructure rose 1.73%, and PSU banks were up 1.64%, showing strength in domestic-facing segments. No sector ended in the red, underscoring the recovery mood across the market. Among individual gainers, Jio Finance led with a 3.57% gain, backed by strong institutional buying. Bharti Airtel climbed 3.18%, and Trent added 3.04%, indicating continued strength in select auto and consumer names. On the flipside, Bajaj Auto fell 2.52%, while Hero MotoCorp declined 2.01%, and Dr. Reddy's slipped 1.57% as profit-booking set in after recent rallies. Nifty technical analysis: daily & hourly The Nifty opened flat but maintained a steady upward trajectory throughout the session, ultimately closing with robust gains of around 319 points. This move marked a significant breakout above the recent consolidation zone of 24,700–25,000 on the daily charts, indicating a likely continuation of the ongoing uptrend. Notably, the index ended the day above the key psychological level of 25,000, reinforcing the bullish sentiment. With this breakout, the next upside target appears to be around 25,600, which coincides with the upper Bollinger Band on the weekly chart. From a technical standpoint, the outlook remains positive. Both the daily and hourly momentum indicators have registered a bullish crossover, typically interpreted as a buy signal. The 20-day moving average, positioned at 24,860, is expected to serve as a key support level in the near term. Also read: Cracks in earnings of tile and plastic pipe makers may widen in Q1 Additional technical observations show that the Nifty is trading comfortably above both its 20-day and 40-day exponential moving averages, which are currently at 24,862 and 24,597 respectively. However, the daily momentum indicator (MACD) still reflects a negative crossover, with the daily MACD reading at 121, suggesting some caution. On the hourly chart, the index remains above the 20-hour and 40-hour moving averages at 24,873 and 24,896 respectively, and the hourly MACD is at 55, supporting continued strength. The Relative Strength Index (RSI) also reflects bullish momentum, with a daily RSI at 59 and hourly RSI at 65. Options data further confirms the bullish undertone. The Put-Call Ratio (PCR) stands at 1.12, indicating more aggressive put writing relative to calls. Total Put Open Interest (OI) is at 16.10 crore, exceeding the Call OI of 14.21 crore, with a net difference of 1.90 crore in favor of puts. This suggests a bullish positioning in the options space. The maximum Call OI is concentrated at the 26,000 strike, while the highest Call OI change was observed at the 27,000 strike. On the put side, the 25,000 strike holds both the maximum OI and the largest change in OI, indicating strong support at this level. The total change in Put OI (6.15 crore) outpaced that of Calls (3.38 crore), resulting in a 2.77 crore difference — again highlighting bullish sentiment. The overall OI and change in OI trends are both marked as bullish. Lastly, India VIX, the volatility index, declined by 4.10% to settle at 13.67, suggesting reduced market uncertainty and supporting the stability of the current uptrend. In summary, the technical structure, momentum indicators, options data, and declining volatility all point towards a strong and sustained bullish trend, with 25,600 as the next immediate resistance level. Ankush Bajaj is a Sebi-registered research analyst. His registration number is INH000010441. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Standard
19-05-2025
- Business
- Business Standard
Vodafone Idea tanks after SC snub on AGR dues
Vodafone Idea shares nosedived 8.6% to Rs 6.73 after the Supreme Court reportedly dismissed the company's writ petition seeking urgent relief on its long-standing Adjusted Gross Revenue (AGR) dues. The courtroom blow had a ripple effect. Indus Towers shares slid up to 2.8%, underscoring wider worries about the sector's financial strain. In light of the development, stock exchanges have sought clarification from Vodafone Idea, but a response is still pending. According to the media reports, the Supreme Court called the plea "shocking" and "misconceived," asserting that the relief sought was not legally tenable. Vodafone Idea had sought an urgent hearing last Friday, pleading for relief on dues amounting to nearly Rs 30,000 crore, largely comprising penalties and interest on penalties under the AGR framework. The telco warned that without further government support, the sector could face an existential crisis. Curiously, the Indian government holds a 49% stake in Vodafone Idea after converting earlier dues into equity. Despite the turmoil, Vodafone Idea still has a sizable retail backing. As of the March quarter, 59.28 lakh small investors, those holding up to Rs 2 lakh in shares, remain part of its investor base. Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst Indias leading telecom service providers. The company provides pan India Voice and Data services across 2G and 4G technology. The company holds a large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave spectrum in 16 circles and is in the process of launching 5G in 17 circles. The company reported a consolidated net loss of Rs 6,609.3 crore in Q3 FY25 as against a net loss of Rs 6,985.9 crore in Q3 FY24. Revenue from operations rose by 4.16% year-on-year to Rs 11,117.3 crore in Q3 FY25.
