Indus Towers falls 1.65% after Q2, support at 355

Indus Towers fell 1.65% after Q2 FY27 profit slipped 2.5% to Rs 1,792.8 crore, with support at Rs 355 and resistance at Rs 393. Indus Towers Limited [

] fell 1.65% on 28 October, the first session after its Q2 FY27 results. The stock traded near Rs 379.90. Consolidated profit fell 2.5% to Rs 1,792.8 crore from Rs 1,839.3 crore. The year-ago quarter had a Rs 195 crore write-back of provisions, which made the base higher. Revenue rose 4% to Rs 8,515.6 crore from Rs 8,188.2 crore. EBITDA edged up 0.4% to Rs 4,633 crore, with a margin of 54.4%. Profit was 2.7% higher than in Q1 and above the Street estimate of Rs 1,780 crore. The tower base grew 5.6% to 270,480, and co-locations rose 5.9% to 440,153. Recovery of dues from its major customer is still the key business factor to track. The trend was negative after the peak at Rs 481.50 and has turned sideways between Rs 355 and Rs 393. Support is Rs 355. Resistance is Rs 393. A close above Rs 393 would end the sideways phase to the upside. A close below Rs 355 would resume the earlier downtrend. Volume on the break is the key signal. Disclosure: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.