Indus Towers Ltd Sees Surge in Call Option Activity Amid Bullish Momentum

Robust Call Option Activity Highlights Investor Optimism

The most active call options for Indus Towers Ltd are concentrated around the 430 strike price, with expiry set for 27 January 2026. On this expiry date, a remarkable 5,774 contracts were traded, generating a turnover of approximately Rs. 1468.44 lakhs. Open interest stands at 2,046 contracts, reflecting sustained investor interest and positioning ahead of the expiry.

With the underlying stock price at Rs. 435.7, the 430 strike calls are trading slightly in-the-money, indicating that traders are betting on further upward movement. This heightened activity in call options suggests a strong bullish bias, as market participants anticipate continued gains in the near term.

Price Performance and Technical Strength

Indus Towers Ltd outperformed its sector peers and the broader market on the day, registering a 4.41% gain compared to the Telecom Equipment sector’s 3.34% and the Sensex’s marginal 0.11% rise. The stock’s intraday high of Rs. 439.7 marks a fresh 52-week peak, underscoring renewed investor confidence.

Technically, the stock is trading above all key moving averages — 5-day, 20-day, 50-day, 100-day, and 200-day — signalling a robust uptrend. This alignment of moving averages often attracts momentum traders and institutional investors, further reinforcing the bullish outlook.

Additionally, the stock reversed its recent two-day decline, gaining traction as delivery volumes surged to 59.45 lakh shares on 31 December, a 141.51% increase over the five-day average. This spike in delivery volume indicates strong investor participation and conviction in the stock’s upward trajectory.

Mojo Score Upgrade Reflects Improving Fundamentals

Indus Towers Ltd’s Mojo Score has improved to 67.0, earning a Hold grade, upgraded from a Sell rating on 7 November 2025. This upgrade reflects better financial metrics and trend assessments, signalling a stabilising outlook for the company within the Telecom Equipment & Accessories sector.

Despite the Hold rating, the stock’s market capitalisation remains substantial at Rs. 1,12,399 crore, categorising it as a large-cap entity with strong liquidity. The market cap grade of 1 further confirms its prominence and trading depth, allowing investors to execute sizeable trades without significant price impact.

Sectoral Context and Comparative Performance

The Telecom Equipment sector has gained 3.31% recently, buoyed by increased demand for network infrastructure and 5G rollout expectations. Indus Towers Ltd’s outperformance relative to the sector highlights its leadership position and ability to capitalise on industry tailwinds.

Investor interest in telecom infrastructure stocks has been rising, driven by the need for enhanced connectivity and digital transformation initiatives. Indus Towers, with its extensive tower network and strategic partnerships, is well positioned to benefit from these secular trends.

Expiry Patterns and Strategic Positioning

The concentration of call option activity at the 430 strike price with expiry on 27 January 2026 suggests that traders are positioning for a near-term rally. The open interest of 2,046 contracts indicates that many investors are holding onto bullish bets rather than closing positions, signalling confidence in sustained price appreciation.

Such expiry patterns often precede significant price movements as traders adjust their positions. The combination of high turnover and open interest at this strike price points to a consensus expectation that Indus Towers will maintain or exceed current price levels through late January.

Investor Takeaway and Outlook

Indus Towers Ltd’s recent price action and options market activity suggest a cautiously optimistic outlook. The stock’s ability to surpass key moving averages and hit new highs, combined with strong call option interest, indicates that investors are positioning for further gains.

However, the Hold Mojo Grade advises measured optimism, signalling that while the stock shows strength, investors should monitor sector developments and broader market conditions closely. The telecom infrastructure space remains competitive, and regulatory or macroeconomic shifts could influence near-term performance.

For investors seeking exposure to the telecom equipment segment, Indus Towers offers a blend of large-cap stability and growth potential, supported by improving fundamentals and positive market sentiment. The active call option market provides additional insight into investor expectations and can serve as a useful barometer for future price trends.

Summary of Key Metrics:

• Stock Price (31 Dec 2025): Rs. 435.7


• New 52-Week High: Rs. 439.7


• Call Option Strike Price: Rs. 430


• Call Contracts Traded: 5,774


• Call Option Turnover: Rs. 1468.44 lakhs


• Open Interest: 2,046 contracts


• Mojo Score: 67.0 (Hold, upgraded from Sell)


• Market Cap: Rs. 1,12,399 crore (Large Cap)


• Sector Performance: +3.31%


• Stock 1D Return: +4.41%

Overall, Indus Towers Ltd’s active call option market and technical strength underscore a positive near-term outlook, making it a stock to watch closely in the telecom equipment space.

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