Indus Towers Limited (NSE: INDUSTOWER) announced its consolidated results for the second quarter ended September 30, 2026. The company reported consolidated revenues of Rs. 8,516 Crores, up 4.0% year-on-year. The consolidated EBITDA stood at Rs. 4,633 Crores, up 0.4% Y-o-Y. However, consolidated profit after tax was at Rs. 1,793 Crores, down 2.5% Y-o-Y.

Strong Performance Driven by Co-location Additions

Indus Towers’ total tower base grew by 5.6% year-on-year to 270,480 towers. The total co-location base increased by 5.9% Y-o-Y to 440,153. The company’s focus on a low-cost shared infrastructure model and digital energy management has driven operational efficiency.

Financial Metrics and Forward Outlook

The company’s return on equity (pre-tax) declined to 25.3% from 38.4% Y-o-Y. Return on capital employed also fell to 19.1% compared to 26.3% on a year-on-year basis. Despite the decline in profit after tax, the company remains confident of delivering sustainable growth and long-term shareholder value. The healthy order book and compelling infrastructure value proposition are expected to drive future performance.

Prachu Sah, Managing Director and CEO of Indus Towers Limited, said: ‘We delivered a strong quarter, underpinned by sustained customer demand, healthy co-location additions, and robust cash flow generation. Our focus on a low-cost shared infrastructure model, digital energy management, and AI-led transformation is enhancing operational efficiency and customer experience. In Africa, initial rollouts are progressing as planned, with momentum expected to build through the second half of the year. Supported by a healthy order book and a compelling infrastructure value proposition, we remain confident of delivering sustainable growth and long-term shareholder value.’

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Indus Towers Limited

Indus Towers Limited belongs to the Communication Services › Telecom Services sector. Here’s a quick read on where the business and the stock stand today.

Indus moves sideways over three months, with neither buyers nor sellers taking control. The PEG of 0.27 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Premium net margins of 21.8% demonstrate strong cost discipline and a wide competitive moat. The stock gains 2.0% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 4.6% and profits at 51.9% CAGR, with D/E of 0.65. Meanwhile, the stock dips 5.0% in three months without any fundamental deterioration. Consequently, the stock quietly becomes cheaper relative to earnings power. For long-term investors, that is a feature. Check Fundamentals of Indus Towers Limited.

Nazara Technologies Limited (NSE: NAZARA) announced its financial results for the quarter and half year ended 30 September 2026. This quarter marks a defining step in Nazara’s evolution into a global gaming platform, combining a portfolio of owned game IPs across mobile, PC & console, and offline, shared group capabilities in marketing, data, product, and technology, and disciplined capital allocation.

Record Quarter

Nazara reported its highest-ever quarterly revenue of INR 803 crore, up 53% year-on-year. EBITDA grew 93% to INR 120 crore, and EBITDA margin expanded 311 bps to 14.9%. Profit after tax from continuing operations was INR 35 crore, compared with a loss of INR 34 crore in Q2FY26.

Gaming Dominance

Gaming revenue grew 122% YoY to INR 656 crore at a 21.5% EBITDA margin. Gaming contributed 82% of consolidated revenue and effectively all EBITDA before corporate costs. Mobile grew revenue 167% to INR 550 crore.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Nazara Technologies Limited

Nazara Technologies Limited belongs to the Communication Services › Electronic Gaming & Multimedia sector. Here’s a quick read on where the business and the stock stand today.

Nazara gains 37.3% over three months and trades near its 52-week highs. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. 2 loss quarter(s) over five years signals earnings fragility — not chronic but worth noting. RSI hits 74, a level that signals the stock runs hot. Notably, buyers drove volume on 19 recent sessions — though at these levels, some profit-taking is normal. The stock rises 37.3% in three months on 18.8% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Nazara Technologies Limited.

Tata Communications Limited (TATACOMM) has announced a significant expansion plan to enhance its network capacity. The company intends to add an additional 6 Petabits per second (Pbps) of network capacity by FY 2036. This expansion will be funded through operating cash flows and is expected to cost ₹4,350 crores (~US$400-450 million). This move aims to meet the growing demand for high-speed internet and data services globally.

Strategic Expansion

The proposed capacity addition will significantly boost Tata Communications’ existing network capacity, which currently stands at 1.25 Pbps. The company’s current network capacity utilization is between 70% and 80%. This strategic expansion will allow Tata Communications to offer more robust and reliable services to its customers, thereby strengthening its competitive edge in the global telecommunications market.

Investment and Timeline

The investment required for this expansion is substantial, amounting to ₹4,350 crores. The company plans to finance this expansion primarily through its operating cash flows, ensuring that the expansion aligns with its financial strategy. The timeline for this project is set between FY 2030 and FY 2036, which indicates a long-term commitment to infrastructure development.

Future Outlook

As a result of this expansion, Tata Communications is well-positioned to cater to the increasing demand for high-speed data services. The company’s proactive approach to infrastructure development underscores its commitment to innovation and customer satisfaction. With this expansion, Tata Communications Limited is set to reinforce its leadership in the global telecommunications sector.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Tata Communications Limited

Tata Communications Limited belongs to the Communication Services › Telecom Services sector. Here’s a quick read on where the business and the stock stand today.

Tata moves sideways over three months, with neither buyers nor sellers taking control. D/E reaches 4.09. High leverage in this environment is a material risk the market cannot ignore. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. The stock holds at 53% of its 52-week range with RSI at 57. In other words, neither side has a clear edge right now. The stock rises -4.1% in three months on 11.6% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Tata Communications Limited.