Introduction:
Leading telecom company has entered a Power Purchase Agreement with JSW Green Energy Eight Limited to procure renewable energy from a Solar PV plant. The agreement includes a Rs 38.03 crore investment and supports the company’s sustainable energy and Net Zero goals.
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Share price movement of Indus Towers:
On December 13, 2024, Indus Towers Limited opened at ₹340.55, down 0.90% from its previous close of ₹343.60. The stock reached a high of ₹343.15 and a low of ₹338.40. As of 09:49 AM, it traded at ₹341.05, a 0.74% decline, with a market cap of ₹89,974.54 crore.
Indus Towers Enters Power Purchase Agreement:
Indus Towers Limited has signed a Power Purchase Agreement (PPA) with JSW Green Energy Eight Limited, a special purpose vehicle (SPV), for procuring renewable energy from a Solar PV plant under Captive mode. This strategic partnership supports the company’s sustainable energy goals.
As part of the agreement, Indus Towers will invest approximately Rs 38.03 crore by subscribing to equity shares of JSW Green Energy Eight Limited. The investment aligns with the company’s renewable energy objectives and its commitment to achieving Net Zero goals.
The acquisition involves a 26% stake in the SPV, which was incorporated on October 18, 2024. The completion of the acquisition is expected by March 2026, subject to regulatory approvals. JSW Green Energy Eight Ltd. is focused on renewable energy, primarily solar power generation.
Recent news on Indus Towers:
As of December 06, 2024, Indus Towers launched its Digital Transformation Van (DTV) in partnership with NIIT Foundation in Ranchi. The initiative aims to provide free digital education to rural and urban slum areas, enhancing access to IT, cybersecurity, and financial literacy.
Stock performance of Indus Towers for Period of 1 week, 6 months and 1 year:
Indus Towers Limited has faced a 5.70% decline in stock price over the past week. However, the company has shown a positive performance with a 0.91% increase over the last six months. Over the past year, the stock has surged by an impressive 71.0%.
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Shareholding pattern of Indus Towers:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 53.00% | 52.00% | 69.00% |
| FII | 24.50% | 23.20% | 16.40% |
| DII | 16.50% | 17.00% | 9.90% |
| Public | 5.90% | 7.80% | 4.70% |
About Indus Towers:
Indus Towers Limited (NSE: INDUSTOWER) was incorporated in 2006, specializing in setting up and managing telecom towers. With a portfolio of over 1,92,874 towers, it is one of India’s largest infrastructure providers, serving major telecom operators across all 22 circles.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
