Indus Towers, Policybazaar Stand Out as Analyst Favourites While Nifty, Sensex Slip on December 8, 2025

Key Highlights

Nifty 50 and Sensex opened soft and slipped further by late morning, with broader markets and smallcaps underperforming as traders turned cautious ahead of this week’s US Federal Reserve decision. ^[1]
Indus Towers and Policybazaar (PB Fintech) emerged as top short‑term “buy” ideas from technical analysts at Angel One and Moneycontrol, with clearly defined targets and stop‑loss levels. ^[2]
Global brokerage Citi reiterated a “high‑conviction buy” on Indus Towers with a ₹500 target, implying ~24% upside, citing increased visibility around potential AGR relief for key client Vodafone Idea. ^[3]
PB Fintech is riding a powerful mix of technical breakout and strong fundamentals – Q2 FY26 profit has surged, ESOPs worth ~₹644 crore have been granted, and fresh equity has been issued as part of a merger and to strategic investor Info Edge. ^[4]
NSE rolled out its first‑ever F&O pre‑open session today, a structural change that could influence derivatives price discovery and opening volatility for active stocks like Indus Towers and PB Fintech. ^[5]

Market Snapshot: Cautious Start to the Week

Indian equities kicked off Monday, December 8, 2025, on a subdued note.

The Nifty 50 opened just below its previous close, around 26,160, while the Sensex started near 85,625, down about 0.1%. ^[6]
By late morning, losses had widened:
- Sensex was hovering close to 85,400, down roughly 300 points (~0.3–0.4%).
- Nifty slipped below 26,100, down about 0.4%. ^[7]
- Midcaps and smallcaps underperformed, with Nifty Midcap and Nifty SmallCap indices down between 0.2–0.8%. ^[8]

Sectorally, the picture was mixed:

Realty, PSU banks and pharma were among the worst hit, dropping around 0.3–1%. ^[9]
IT and metals were relative bright spots, with the Nifty IT index in the green for a fourth consecutive session. ^[10]

The weakness comes amid a busy macro week:

Global investors are positioned for a 25 bps rate cut by the US Federal Reserve, but commentary from some policymakers has made this one of the more contentious meetings in recent memory. ^[11]
A weaker rupee, a wider trade deficit and patchy foreign flows are also tempering enthusiasm, even as domestic data – like robust GDP growth and an RBI rate cut – keeps India’s medium‑term narrative constructive. ^[12]

Against this cautious backdrop, stock‑specific action is where traders are hunting for opportunities – and two names consistently showing up on analyst radars today are Indus Towers and Policybazaar (PB Fintech).

Indus Towers: Technical Breakout Meets “High‑Conviction” Fundamental Call

Short‑Term Trade: Angel One and Moneycontrol See Bullish Setup

On Monday morning, Indus Towers was highlighted as a key “stock to buy today” by Osho Krishan, Senior Analyst – Technical & Derivatives at Angel One, in a note carried by Business Standard and Moneycontrol. ^[13]

Key elements of the trade:

View: Bullish
Last close: ~₹415
Suggested buy zone: Around ₹410
Stop‑loss:₹390
Targets:₹445–450 in the near term ^[14]

The technical rationale, as summarised in those reports:

The stock remains above all key exponential moving averages (EMAs), signalling a strong underlying uptrend. ^[15]
A breakout from a downward‑sloping channel, accompanied by high volumes, suggests renewed institutional participation. ^[16]
The 14‑day RSI has turned up in a positive crossover, supporting expectations that momentum could sustain. ^[17]

In simple terms: technicals are aligned in favour of a continuation of the up‑move, with the ₹390 region acting as near‑term support and ₹445–450 as the immediate profit‑booking zone.

Big Picture: Citi’s 24% Upside and the Vodafone Idea Link

Short‑term technicals are not the only reason Indus Towers is in focus.

A detailed note from Citi, covered by Trade Brains, Reuters and Economic Times, has put Indus firmly in the “high‑conviction buy” camp: ^[18]

Rating: High‑conviction Buy
Target price:₹500 per share, implying roughly 24% upside from the levels at which Citi framed its call. ^[19]
Citi’s optimism is anchored in developments around Adjusted Gross Revenue (AGR) dues for Vodafone Idea, one of Indus Towers’ largest clients:
- The Supreme Court recently allowed the government to reassess Vodafone Idea’s AGR dues, giving New Delhi legal room to consider a structured relief package. ^[20]
- Union telecom minister Jyotiraditya Scindia indicated that the government is awaiting a formal proposal from Vodafone Idea and would frame recommendations within the contours of the court ruling, potentially by year‑end. ^[21]
Citi argues that this clarity reduces uncertainty around Vodafone Idea’s solvency, improves its ability to pay and invest, and materially improves the risk–reward profile for Indus Towers, whose cash flows are closely tied to tenant health. ^[22]

Fundamentally, Indus Towers is not a “story‑only” bet either:

Revenue from operations rose about 10% year‑on‑year in Q2 FY26, from roughly ₹7,465 crore to about ₹8,188 crore. ^[23]
Net profit in the same quarter slipped from around ₹2,224 crore to ₹1,839 crore (a decline of just over 17% YoY), largely reflecting elevated costs and sectoral stress, but still leaving the company with strong cash generation. ^[24]
With over 2.56 lakh towers across all 22 telecom circles, Indus remains one of India’s largest passive infrastructure providers. ^[25]

According to Reuters data, Indus Towers is rated “buy” on average by more than 20 brokerages, with a median target around ₹426, and the stock is up roughly 20% year‑to‑date. ^[26]

Taken together, the message from both domestic technical desks and global research houses is clear: Indus Towers is emerging as a consensus overweight in the telecom‑infrastructure basket, especially for investors comfortable with regulatory and client‑related risk.

Policybazaar / PB Fintech: Breakout Stock Backed by Strong Earnings and Corporate Action

Today’s Trade Ideas: Angel One, Moneycontrol and ETMarkets

If Indus is the telecom infra play of the day, Policybazaar’s parent PB Fintech is the fintech–insurtech counterpart.

In the same Angel One note highlighted by Business Standard, PB Fintech (ticker: POLICYBZR) appears alongside Indus as a top intraday to short‑term idea. ^[27]

Parameters from the Angel One trade:

View: Bullish
Last close:₹1,892
Suggested buy zone: Around ₹1,880
Stop‑loss:₹1,760
Targets:₹2,100–2,130 ^[28]

Technical backdrop, as described in those reports:

Price is comfortably above key EMAs, recovering from a prior trendline support. ^[29]
The stock has broken out of a downward‑sloping trendline on the daily chart.
A positive MACD crossover supports the view that momentum is turning firmly higher. ^[30]

Moneycontrol’s “Trade Spotlight” feature for December 8 repeats this bullish stance, noting that PB Fintech’s breakout from a sloping trendline, supported by EMAs and momentum indicators, justifies a buy around ₹1,880 with ₹2,100–2,130 as upside and ₹1,760 as a protective stop. ^[31]

Separately, an ETMarkets “Market Trading Guide” published on December 7 recommended PB Fintech at a lower entry area, ₹1,690, with: ^[32]

Target:₹1,770 (about 5% upside from that entry)
Stop‑loss:₹1,640
Rationale: a breakout from a five‑month consolidation, move above the 21‑day EMA, and an RSI in a bullish crossover above 60, signalling a fresh upswing. ^[33]

The common thread: multiple technical analysts now see PB Fintech as a momentum stock with clearly defined support and resistance zones, making it attractive for both positional traders and short‑term swing participants.

Fundamentals: Profit Surge, ESOPs, Digital Expansion

PB Fintech’s chart strength is underpinned by a very busy – and generally positive – fundamental calendar.

Q2 FY26 earnings surprise on the upside
- PB Fintech reported profit after tax of around ₹135 crore in Q2 FY26, representing a 165% year‑on‑year jump, on the back of strong insurance premium growth and better operating leverage. ^[34]
- Consolidated revenue from operations climbed roughly 20–38% YoY to about ₹1,613–1,614 crore, depending on the reporting base, as core online insurance and lending platforms scaled up. ^[35]
- Total insurance premium handled by the platform rose about 40% YoY to ₹7,605 crore, underscoring the depth of PB Fintech’s franchise. ^[36]
Large ESOP grant to align employees On December 3, PB Fintech approved a fresh ESOP grant covering about 35.11 lakh options under its ESOP 2024 plan.
- At a prevailing share price near ₹1,835, the ESOPs are valued at roughly ₹644 crore (~$72 million). ^[37]
- The move signals a deliberate push to retain and incentivise key talent, which matters in highly competitive fintech and insurtech markets.
Strategic capital allocation in PB Pay and PB Healthcare The same Entrackr report and earlier company disclosures highlight PB Fintech’s multi‑pronged expansion: ^[38]
- PB Pay Pvt Ltd, a wholly‑owned subsidiary, has secured in‑principle RBI approval to operate as an online payment aggregator, expanding PB Fintech’s play into digital payments infrastructure. ^[39]
- The board has also cleared up to ₹696 crore of capital infusion into PB Healthcare Services, aimed at building out a healthcare network and improving the overall insurance experience – a long‑term adjacency to its core online marketplace. ^[40]
Equity issuance: Makesense merger and Info Edge’s higher stake Recent exchange filings, aggregated by corporate trackers and NDTV, show meaningful balance‑sheet actions: ^[41]
- PB Fintech has allotted about 5.99 crore fully paid‑up equity shares (face value ₹2) to the shareholders of Makesense Technologies as part of a Scheme of Amalgamation approved by the NCLT’s Chandigarh bench. The allotment date is reported as December 6, 2025, and the shares are to be listed on the NSE and BSE. ^[42]
- Separately, Info Edge disclosed that PB Fintech has allotted 2.99 crore shares to it, representing 6.5% equity, taking Info Edge’s total holding to 12.43% in PB Fintech. ^[43]

Together, these moves deepen PB Fintech’s institutional shareholding, expand its ecosystem (payments + healthcare), and reinforce growth visibility, all of which help justify the aggressive upside being pencilled in by technical analysts.

Structural Backdrop: NSE’s First F&O Pre‑Open Session Goes Live

Today’s trade is also notable for a major structural change in India’s derivatives market.

Effective December 8, 2025, the National Stock Exchange (NSE) launched its first‑ever pre‑open session in the F&O segment. ^[44]

Key aspects:

The pre‑open window runs from 9:00–9:07/9:08 AM, during which traders can place, modify or cancel orders in index and single‑stock futures (initially current‑month contracts, with next‑month contracts included in the last five days of trading). ^[45]
A subsequent order‑matching phase from 9:08–9:12 AM discovers a single equilibrium opening price, based on demand–supply, which becomes the official open. ^[46]
Both market and limit orders are allowed, but stop‑loss and IOC orders are not in the pre‑open. Unmatched limit orders roll over into the regular session with their original time stamps. ^[47]

For active derivatives counters like Indus Towers and PB Fintech, this new mechanism could, over time:

Smooth out extreme opening gaps,
Improve price discovery around overnight news, and
Potentially alter intraday volatility profiles, especially on high‑event days (earnings, rating changes, major policy announcements).

Telecom & Digital Finance in Focus: HFCL and Broader Theme

Today’s theme is not limited to Indus Towers alone within the telecom and connectivity complex.

HFCL, a telecom and defence‑focused technology company, saw its shares rise around 3.5–4% intraday, hitting roughly ₹71.3 after winning export orders worth $72.96 million (~₹656 crore) for optical fibre cable supplies via its overseas subsidiary. ^[48]
The order is to be executed by November 2026, underlining robust global demand for fibre infrastructure – a macro positive for the broader digital infrastructure story that also supports sentiment for tower companies like Indus Towers.

On the digital finance and insurtech side, PB Fintech’s moves into payments aggregation and healthcare services reflect a broader trend where financial platforms are evolving into multi‑service ecosystems rather than staying pure‑play marketplaces. ^[49]

The combination of:

Telecom infrastructure (Indus Towers, HFCL), and
Digital finance / insurtech platforms (PB Fintech / Policybazaar)

sits squarely at the heart of India’s “data + financialisation” growth narrative, making analyst calls in these names particularly relevant to both traders and long‑term investors.

What It Means for Traders and Investors

For Short‑Term Traders

From today’s set‑up, the immediate trading map on these two key stocks – as per published analyst strategies – looks roughly like this (all levels approximate and as of December 8, 2025):

Indus Towers ^[50]
- Buy zone: around ₹410
- Near‑term targets: ₹445–450
- Stop‑loss: ₹390
- Extended fundamental target (Citi): ₹500
PB Fintech (Policybazaar) ^[51]
- Aggressive entry (ETMarkets): around ₹1,690, target ₹1,770, stop‑loss ₹1,640
- Current momentum entry (Angel One / Moneycontrol): around ₹1,880, targets ₹2,100–2,130, stop‑loss ₹1,760

Traders will be watching how these names behave:

Relative to the broader market, which is showing signs of consolidation and fatigue; and
Around the new F&O pre‑open regime, which may gradually influence opening moves.

For Medium‑Term Investors

For investors with a 3–12 month horizon, today’s flows and calls reinforce a few themes:

Indus Towers is increasingly seen as a geared play on telecom normalisation, especially if Vodafone Idea’s AGR overhang is eased through a government‑backed solution. Positive towers demand, 5G rollout and tenancy stability are the key medium‑term drivers. ^[52]
PB Fintech is evolving from a pure aggregator into a multi‑vertical digital financial services hub, with insurance, credit, healthcare and payments all feeding into the same customer and data stack – and recent profit growth plus institutional interest (Info Edge, global funds) adds credibility to that roadmap. ^[53]
Market internals still favour stock pickers over index chasers: despite headline indices staying near record zones, smallcaps and specific sectors are under pressure, making high‑conviction, well‑researched ideas more valuable than blanket beta exposure. ^[54]