Indus Towers is sulking in trade on the back of a Bharti Airtel analysts’ meet.

Bharti Airtel held an analysts’ meet on Friday in Delhi, in which its management was questioned about Bharti’s plans to buy a 4.7 percent stake in Indus from Vodafone PLC, the news of which had come out a few weeks ago. Bharti Airtel’s management said it will buy that 4.7 percent stake at Rs 190-192 per share, which is at a steep discount to where the stock currently stands.

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The management went on to say that it could further up the stake in Indus Towers and then monetise its overall holding. So the fact that Bharti’s deal to buy the 4.7 percent stake in Indus from Vodafone PLC will happen at a substantially lower price is what perhaps is impacting Indus in today’s trade.

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First Published:Mar 25, 2022 3:54 PM IST