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Promoters held 51.46 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 12.39 per cent and 3.76 per cent, respectively.

There is some value that we can see in the acquisition and it is at the right price. So, combination of all this, we do look at it.

On the technical charts, the RSI of the stock stood at 52.71.

Its net interest income rose 32% YoY to Rs 793 crore, while the net interest margin was down 40 basis points to 9.2% due to the lagged effect of the deposit rate rise. Gross non-performing assets stood at 2.4% against 5.9% a year back. Net NPA was at 0.06%.

The stock traded at a P/E multiple of 44.3, while the price-to-book value ratio stood at 6.39.

The potential impact of rate hikes on global liquidity would have led foreign investors to re-evaluate their investment decisions," Himanshu Srivastava, Associate Director - Manager Research, Morningstar India, said.According to the data, FPIs have been continuously buying Indian equities since March and infused Rs 45,365 crore this month. Only one trading day is left in July

Price sustaining above recent breakout area signaling further upward momentum

A host of analysts are positive and shared their tech views on particular stocks that can rally up to 11% in the short term. These stocks include Tata Chemicals, Tata Power, and LIC Housing Finance.

​And it is not led by any particular product or geography, we have seen buoyancy across the country, across products. And, of course, there will be some variation within the products in terms of growth is concerned but we are seeing demand holding up for all products but the pre-owned vehicle seems to be leading the front in terms of the overall growth trajectory is concerned.

Indus Towers, incorporated in the year 2006, is a Large Cap company (having a market cap of Rs 46972.75 Crore) operating in Telecommunications sector.