Indus Towers Announces Share Buyback
52-Week High Reached
Price Hits Rs 405.65
Telecommunications company Indus Towers has announced a share buyback offer to purchase up to 5677 million shares for up to 2640 crore. The offer will open on March 14, 2023.
The company's stock price had reached a 52-week high earlier this month, driven by strong financial performance and positive market sentiment. However, on Tuesday, the shares closed 246 lower at Rs 405.65 on the BSE.
Indus Towers enjoys a market capitalization of 11068106 crore, making it one of the largest companies in India. The company is responsible for providing telecom infrastructure to leading operators in the country.
The buyback offer is expected to provide liquidity to shareholders and support the stock price in the long term. The company has a strong track record of financial performance and is well-positioned to continue its growth trajectory.
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