Indus Towers Share Price Jumps 6%: Vi Relief and Strong Cash Flows Drive Rally

Indus Towers share price (NSE: INDUSTOWER) surged up to 6% in Friday’s trade, touching a 16-month high of ₹455 on the BSE. This is the stock’s highest level since September 2024 and above its earlier peak of ₹445.75 seen earlier this month.

Over the last 4 months, the stock has delivered a strong 31% return, clearly outperforming the Sensex, which rose just 3.7% in the same period. From its 52-week low of ₹312.60 hit in September 2025, the stock has rebounded nearly 46%. By mid-morning, Indus Towers was trading around 3% higher, even as the broader market remained weak. 

Vodafone Idea Relief Lifts Sentiment

The main trigger behind the rally is Vodafone Idea’s confirmation that its AGR dues for FY2006–07 to FY2018–19 will remain frozen as of December 31, 2025.

As per the DoT communication, Vodafone Idea will pay:

• Up to ₹124 crore per year from March 2026 to March 2031
• ₹100 crore annually from March 2032 to March 2035
• The remaining dues in equal instalments from March 2036 to March 2041

This relief improves Vodafone Idea’s financial visibility, which is positive for Indus Towers as Vi is a key customer.

Strong Business Model and Revenue Metrics

Indus Towers is India’s largest passive telecom infrastructure company, providing towers and related assets to mobile operators.

In the first half of FY26, the company reported one of the highest revenues in the industry, with average monthly revenue of nearly ₹68,000 per macro tower and over ₹41,000 per sharing operator. This is supported by high tenancy levels, premium tower locations, and strong network loading.

Vi Network Expansion a Big Opportunity

Indus already commands around 60–65% share of Vi’s new tower rollouts. Since many Indus towers were originally built for Airtel, and Vi has similar spectrum holdings, the company is well placed to gain from Vi’s future expansion plans.

Also Read: Best Gold Mutual Funds in India for Jan 2026!

Conclusion

Indus Towers’ sharp rally is backed by improving fundamentals, strong cash flows, and positive developments around Vodafone Idea. While near-term momentum looks healthy, sustained gains will depend on telecom capex growth and Vi’s execution on network expansion.

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