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Informist, Friday, Sept. 19, 2025

MUMBAI – Telecommunication stocks are likely to consolidate next week tracking the overall market, analysts said. Focus will be on further developments on Vodafone Idea's plea to the Supreme Court seeking the quashing of Department of Telecommunications' additional adjusted gross revenue demand.

The government Friday told the Supreme Court that some solution may be required on the company's plea seeking to quash the telecom department's AGR demand of INR 94.50 billion that was accrued till FY19. The court can grant some indulgence in Vodafone Idea's plea in the AGR case, Solicitor General Tushar Mehta, appearing for the government, said. The next date for hearing is on Sept. 26. 

This will be a key legal battle as it may determine the beleaguered company's trajectory ahead, analysts said. The company had earlier said it needed support from the government for its survival.

Vodafone Idea shares are likely to move in a range of INR 8-INR 10 next week, but a lot will be dependent on any developments related to the case, a technical analyst at a domestic brokerage said. The stock gained over 3% this week. On the other hand, Bharti Airtel is likely to consolidate next week in a range of INR 1,920-INR 2,000, the analysts said. On Friday, Vodafone Idea ended 7% higher at INR 8.40 on the National Stock Exchange and Bharti Airtel closed 1% higher at INR 1,962.40.

Earlier in the week, global brokerage HSBC maintained a positive view on the sector, saying it expects a hike in the average revenue per user across the sector in 2026. The brokerage also expects capital expenditure to decline going forward, with growth drivers remaining intact for Bharti Airtel and Reliance Industries' Jio Infocomm. HSBC has raised its target price on Reliance Industries to INR 1,750 from INR 1,630 and maintained its target price on Bharti Airtel at INR 2,200. It has reiterated 'buy' call on both stocks.

TOP HEADLINES

* Govt tells SC some solution required on Vodafone Idea's plea in AGR case
* DoT fines Bharti Airtel for violating subscriber verification norms
* RailTel gets INR-575-mln order for smart classrooms in Bihar universities
* RailTel bags INR 1-bln order to install smart classrooms in Bihar
* SC likely to hear Fri Vodafone Idea plea against govt's additional AGR demand
* RailTel bags order worth INR 2.10 bln from Bihar Education Project Council

Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:

End

Reported by Akash Mandal

Edited by Nishant Maher

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