Bharti Airtel has increased its stake in Indus Towers to 48.95% after acquiring 1% from Vodafone Group, which sold nearly 20% of its shares. The transaction involved 2.695 crore shares bought by Airtel on the market, bringing its total stake to 48.95%. The move follows Vodafone’s reported sale of 53.3 crore Indus Towers shares for Rs 17,065 crore.
India’s largest telecom tower provider, Indus Towers, reported a strong financial performance in the quarter ended March 2024, with a 32.4% jump in net profit to ₹1,853 crore. The company also witnessed a 6.5% growth in revenues, which rose to ₹7,193 crore during the quarter. This significant growth was driven by network expansion and an increase in the company’s market share, leading to a record number of tower additions, surpassing 200,000 towers.
Aditya Birla Capital, Indus Towers, Cummins India, Voltas, and LIC Housing Finance are among the most searched stocks today. These companies have been in the news recently for various reasons, including financial results, acquisitions, and partnerships.
MCX, Oberoi Realty, Indus Towers, DLF, and Indraprastha Gas witnessed significant gains today, contributing to the overall market rally.
