Shares of Indus Towers have risen for the last five trading sessions, and are likely to be in the limelight again on Tuesday, April 22, amid hopes that a stake increase by the Government of India (GoI) in beleaguered telecom player Vodafone Idea will likely help the company recover ₹500 crore in dues and also declare a dividend to reward its shareholders.
Indus Tower share price settled 3.07% higher on Monday, April 21, at ₹410 apiece after Vodafone Idea said today that GoI has increased its stake from 22.60% to 48.99% by converting a portion of the company’s spectrum payment dues into equity shares valued at ₹36,950 crore.
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