Indus Towers soars 15%, nears 52-week high on telecom relief package

So far, the stock had been an under-performer having gained mere 4 per cent in the last six months compared to a 17 per cent rally in the S&P BSE Sensex.

Shares of Indus Tower rallied 15 per cent to Rs 279.35 on the BSE in intra-day trade on Thursday after the Union Cabinet on Wednesday approved a relief package for the telecom sector (telcos) that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign direct investment through the automatic route. The stock is trading close to its 52-week high of Rs 282 touched on 24 February, 2021.

However, in the past six months, the stock has under-performed the market by gaining mere 4 per cent, amid growth concerns