Indus Tower: Motilal Oswal Sets Rs 390 Target, Maintains 'Neutral' Rating

• Motilal Oswal maintains a 'Neutral' rating on Indus Tower with a DCF-based target price of Rs 390.
• Indus Tower is gaining market share in new tower builds due to operational efficiencies and network uptime.
• Management is confident about securing RJio's upcoming tenancy renewals, representing 12-13% of revenue share.
• The Africa foray is in its initial stages, viewed as a good growth market with Airtel Africa as a strong anchor tenant.
• Despite potential positive sentiment from Vi relief, the risk-reward is considered uncompelling at the current market price.

Why It Matters: Motilal Oswal rates Indus Tower 'Neutral' with Rs 390 target, citing uncompelling risk-reward.