Indus Towers plans a foray into the EV charging infrastructure sector

Aligning with the Government of India's emphasis on Electric Vehicle (EV) adoption and infrastructure augmentation, Indus Towers Limited, India's leading telecom tower infrastructure provider, has decided to pursue suitable business opportunities in the Electric Vehicle (EV) charging infrastructure sector and received the approval of its Board of Directors for the same subject to prudential framework. The Company has already launched pilot EV charging stations in Gurugram and Bengaluru.

The Company is well positioned to contribute to the EV charging infrastructure sector by leveraging its expertise in managing and providing space, power, and operations and maintenance (O&M) for seamless operation and efficiency. This is in line with the Company's plan to supplement its long-term growth through relevant adjacent business opportunities.

Shares of Indus Towers Limited was last trading in BSE at Rs. 367.40 as compared to the previous close of Rs. 356.95. The total number of shares traded during the day was 134801 in over 2683 trades.

The stock hit an intraday high of Rs. 369.10 and intraday low of 354.90. The net turnover during the day was Rs. 49186797.00.

Source : Equity Bulls

Keywords

IndusTowers INE121J01017 TelecomServices NewBusinessForay EVChargingInfrastructure