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Informist, Friday, Oct. 24, 2025

MUMBAI – Shares of telecommunication companies are largely expected to track the overall market next week as investors focus on corporate earnings. A key event for the sector will be the Supreme Court's hearing on Vodafone Idea's plea regarding dues Monday.

Shares of the beleaguered telecom giant had fallen on both prior occasions when the court had deferred its hearing. The company seeks quashing of the Department of Telecommunications' additional adjusted gross revenue demand of INR 94.50 billion till FY19. Last month, the government had told the apex court that some solution may be required on Vodafone Idea's petition. The matter, however, has been adjourned on four occasions after requests from Solicitor General of India Tushar Mehta, who is representing the government.

Next week, telecom stocks are likely to consolidate and track the overall market. Shares of Bharti Airtel are likely to move in a range of INR 1,975-INR 2,100 next week and may test its record high of INR 2,067, a derivatives analyst at a domestic brokerage said. Vodafone Idea is likely to move in a range of INR 9-INR 10 next week. On Friday, Bharti Airtel closed 1% higher at INR 2,039.30 on the National Stock Exchange and Vodafone Idea closed 1% higher at INR 9.62.

Regarding Reliance Jio Infocomm, which reported its earnings on Oct. 17 alongside the consolidated Reliance Industries entity, ICICI Securities increased its earnings estimate for the company by 1.6% each for 2025-26 (Apr-Mar) and FY27. "We see upside risk from cost-optimisation efforts as company moves power consumption to renewal sources and works on costs related to passive infrastructure," it added.

In other news related to the telecom sector, the Cellular Operators Association of India has urged the government to reform the spectrum allocation and pricing regime over concern of the current model being financially unsustainable for companies, a Moneycontrol report said Thursday. The association, which represents Reliance Jio, Bharti Airtel, and Vodafone Idea, highlighted the need for broader policy reforms, including resolution of adjusted gross revenue issues, licence fees, and GST-related refunds, the report said.

TOP HEADLINES

* Tata Tele Maha net loss narrows QoQ to INR 3.21 bilion in Jul-Sept
* Tejas Networks begins shipment of router, management system for govt project
* Earnings Outlook: Rise in co-locations to lift Indus Towers Q2 sales, PAT
* Tejas Networks consol net loss widens QoQ to INR 3.07 billion in Jul-Sept
* HFCL posts consol net profit of INR 678.6 mln in Jul-Sept vs loss quarter ago
* HFCL secures export order worth $32.02 mln to supply optical fibre cables

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 Subhojit Sarkar

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