Telecom Stocks Outlook
May track overall market; Bharti Airtel results eyed
This story was originally published at 19:16 IST on 31 October 2025
Register to read our real-time news.Informist, Friday, Oct. 31, 2025
MUMBAI – Telecom stocks are likely to move in a range next week and track the overall market as the earnings season is underway in full swing. Sector bellweather Bharti Airtel is scheduled to report its earnings for the September quarter on Monday.
Bharti Airtel's consolidated top line for the September quarter is expected to rise 9% sequentially to INR 505.36 billion, according to the average of estimates from seven brokerages. The growth is likely to be driven by a steady rise in subscribers of the wireless business in India. Its bottom line for the quarter is expected to rise 9% sequentially to INR 64.61 billion. If Bharti Airtel's September quarter earnings are in line with the consensus estimates, it would be the company's lowest sequential top line growth in six quarters but the best bottom line performance in three quarters.
"Bharti is expected to register 2% QoQ and 2.1% QoQ growth in its India wireless revenue and EBITDA respectively, led by robust mobile broadband subs gains (at 7.2 mln) and as ARPU is likely to improve 1.6% QoQ (to INR 254) due to ongoing
healthy upgrades to smartphone/post-paid plans and 1 more day QoQ in 2QFY26," JM Financial said in its earnings preview for the company.
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 1,950-INR 2,100 next week, 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, shares of Bharti Airtel closed 0.6% lower at INR 2,054.50 on the National Stock Exchange and Vodafone Idea closed flat at INR 8.73.
This week, the Supreme Court heard Vodafone Idea's plea regarding dues and allowed the government to reconsider the issue of the Department of Telecommunications' additional adjusted gross revenue demand of INR 94.50 billion till FY19 against the telecom operator. The government will also reconsider Vodafone Idea's request to seek exemption from the payment of interest, penalty, and interest on penalty on the principal amounts of adjusted gross revenue dues, the top court said. The stock had surged 14% post the hearing on Monday, eventually ending 4% higher.
However, the stock plunged 7% Thursday after the Supreme Court's written order on the company's plea to quash the additional adjusted gross revenue led to confusion. The court had allowed the government to reconsider the telecom company's adjusted gross revenue dues, but the written order on Thursday stated that it quashed only the additional AGR demand, not the penalty and interest on the penalty that the company had earlier appealed against, according to media reports.
TOP HEADLINES
* RailTel Corp gets work order worth INR 1.36 bln from defence sector customer
* Earnings Outlook:Bharti Hexacom PAT growth seen outpacing sales on high ARPU
* Earnings Outlook: India mobile ops to drive Bharti Airtel's Q2 sales, PAT
* Bharti Airtel arm to acquire 35% stake in AMPIN Energy C&I for INR 51.92 mln
* Analyst Concall: Indus Towers eyes acquisitions for growth plans in Africa
* PRESS: Starlink leases first office in Mumbai amid plans to roll out svcs
* Earnings Review: Indus Towers consol PAT up 6% QoQ, beats Street view
* Data Alert: Vodafone Idea's fall in mobile users in Sept highest in 8 mos
* In relief to Vodafone Idea, SC allows govt to reconsider AGR issue
* Bihar Education Project Council cancels INR 2.1-bln order given to RailTel
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:
| Company | Price | Week-on-week change in % | Resistance | Support |
| Bharti Airtel | 2,054.50 | 1.20 | 2082.10 | 2037.90 |
| Mahanagar Telephone Nigam | 41.72 | (-)0.60 | 42.40 | 41.30 |
| Reliance Industries | 1486.40 | 2.40 | 1503.90 | 1473.50 |
| Tata Communications | 1875.40 | (-)1.10 | 1930.90 | 1843.10 |
| Tata Teleservices Maharashtra | 54.58 | (-)0.30 | 55.30 | 54.10 |
| Vodafone Idea | 8.73 | (-)9.30 | 9.10 | 8.50 |
| Nifty 50 | 25722.10 | (-)0.30 | 26038.20 | 25553.10 |
| S&P BSE Sensex | 83938.71 | (-)0.30 | 84992.90 | 83378.60 |
End
Reported by Akash Mandal
Edited by Avishek Dutta
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
