Indus Towers, a leading provider of passive telecom infrastructure in India, saw its shares drop 1.36% to ₹402.70 ahead of a crucial board meeting scheduled for April 30, 2026. The meeting will focus on approving the audited financial results for the fourth quarter and full year ending March 31, 2026. Investor sentiment has been negatively impacted by the company's lack of dividend announcements for the past three years, with the last interim dividend being ₹11 per share in May 2022. Furthermore, the absence of a share buyback proposal, last conducted in August 2024, has added to the caution among investors. A recent downgrade by a foreign brokerage, which assigned an 'Underperform' rating with a target price of ₹375, highlighted risks from upcoming tower contract renewals, potential pricing pressures, and slower industry growth, which could weaken the company's bargaining power. Indus Towers reported a 55.64% decline in net profit to ₹1,775.90 crore for Q3 December 2025, despite a 7.94% increase in net sales to ₹8,146.30 crore compared to the same quarter in the previous year.