Airtel Boosts Indus Towers Stake to 51.18%, Citi Recommends Buy with ₹540 Target

• Bharti Airtel increased its stake in Indus Towers to 51.18% by purchasing an additional 1.2 million shares.
• Indus Towers shares reached a one-year high of ₹476.95 before a slight dip, showing over 52% returns in 5 months.
• Citi reiterated its 'buy' rating for Indus Towers with a target price of ₹540, citing three key reasons.
• Citi's bullish outlook is based on Vodafone Idea's bank loan settlement, AGR reassessment, and Airtel's continuous share purchases.
• Despite a 40% rally in six months, 13 out of 23 analysts recommend 'buy' for Indus Towers.