Indus Towers: Jefferies cuts rating to underperform, gives reasons for bear outlook

Jefferies has downgraded Indus Towers to "underperform" and slashed its price target to Rs 375, citing emerging risks around tower contract renewals and sustained pressure from elevated capital expenditure, which could weigh on earnings growth and shareholder payouts.The brokerage flagged that a significant portion of Indus Towers sites — around 10% — that were deployed in 2016–17 are up for renewal over the second half of calendar year 2026 and early 2027. This cluster of renewals comes at a ti...