Hot Stock: This telecom infrastructure company signs an agreement with IOC Phinergy Pvt Ltd; scrip jumps over 4 per cent!
The stock is up by 46 per cent from its 52-week low of Rs 135.20 per share.
Indus Towers Limited and IOC Phinergy Private Limited (IOP) have signed an agreement for the deployment of 300 zero-emission energy systems based on aluminium-air technology, to optimize Diesel consumption at Indus’ telecom tower sites. This development accelerates Indus Towers’ progress towards its sustainability priorities. 300 Energy Systems to be supplied by IOC Phinergy, which will be deployed in the next few quarters as a pilot project.
IOP is a joint venture company formed by IOCL and Phinergy Ltd., Israel to develop, manufacture, sell and service aluminium-air systems using Phinergy’s technology in India. Phinergy is a world-leading developer of clean energy systems based on aluminium-air technology for stationery and mobility applications. Phinergy’s Al-Air energy systems generate clean energy from aluminium and provide a zero-emission energy solution for short and long duration of unavailability of grid power for telecom networks.
Prachur Sah, Managing Director & Chief Executive Officer of Indus Towers said, “As part of the company’s ESG vision, Indus Towers believes in nurturing Environmental Stewardship, being Socially Responsible and having a Robust Governance. Indus Tower’s Agreement with IOP is a testimony of the company’s commitment to build eco-friendly telecom tower sites by investing in solutions for resource optimisation. This is also in line with Indus’ commitment to delivering its services without compromising on network uptime and quality of service to its customers.”
Indus Towers Limited is engaged in the business of the object of, inter-alia, setting up, operating and maintaining wireless communication towers. The Company has a tower market share of 33 per cent and a tenancy market share of 42 per cent which makes it a leader in the telecom tower industry in India.
On Friday, shares of Indus Towers Limited gained 4.04 per cent to an intraday high of Rs 197.15 per share from its previous closing of Rs 189.50. At the closing bell, shares of the company were trading at Rs 191.70 per share, up 1.16 per cent.
The stock is up by 46 per cent from its 52-week low of Rs 135.20 per share. Investors should keep an eye on this telecom infrastructure stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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