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Informist, Friday, Dec. 5, 2025

MUMBAI – The outlook on stocks of telecommunication companies is mixed for next week, according to technical analysts. However, the overall bias for the sectors remains positive after most telecom stocks faced major sell-offs in the recent sessions. This week, the BSE Telecommunication index closed higher after falling for two previous weeks.

Shares of Bharti Airtel are expected to trade in a thin range with a slight fall likely as the bias for the stock remains negative, Rupak De, senior technical analyst at LKP Securities, said. It will face resistance at INR 2,160 and find support at INR 2,020. Friday, shares of Bharti Airtel closed 0.2% higher at INR 2,108.80 on the National Stock Exchange.

The outlook for shares of Reliance is positive with resistance seen at INR 1,600-INR 1,660 and support at INR 1,510. The technical outlook for Vodafone Idea remains positive with support seen at INR 9.8 and resistance at INR 12, the analyst said. The stock closed 1.1% higher at INR 10.80.

Earnings for telecom companies in the December quarter are expected to be slightly better than the September quarter, a head of research at a domestic brokerage said. He believes valuations of these companies are comfortable, even if they are higher.

Bharti Airtel and Reliance Industries' subsidiary Reliance Jio Infocomm Ltd. continue to gain market share and are safe from the entry of companies such as Starlink primarily due to the latter's high price point, the analyst said. "The industry is moving along a similar pattern with no particular surprises expected. The only issue under focus is the one of aggregated gross revenue," he said.

Thursday, the cabinet secretary T.V. Somanathan called a meeting of officials from the finance ministry and the department of telecommunications to deliberate on a fresh relief proposal for Vodafone Idea's adjusted gross revenue dues following the Supreme Court's order last month, NDTV Profit had reported. This came a day after Union Minister of Communications Jyotiraditya Scindia, in an interview with CNBC TV18, had said the Centre was awaiting a formal request from the company with the specifics of the relief package likely to be announced by the end of the year.

The minister also stressed that the SC order was specifically for Vodafone Idea and that other companies would have to approach the apex court for similar relief. "...if the relief is given, it should be to everybody who is affected by the same kind of legislation or interpretation," the analyst said.

Vodafone Idea continues to lose subscribers but at a slower pace, the analyst said. The company lost 2.08 million subscribers on a monthly basis in October as compared to the 1.19 million it lost on a monthly basis a year ago, according to data from the Telecom Regulatory Authority of India. The efficacy of steps taken by Vodafone Idea, given its budget constraints, need to be monitored before drawing a conclusion on the performance of the company, the analyst said. The loss of subscribers may stop if the company gets the relief in its AGR dues and is able to execute its capital expenditure plans, the analyst said.            

HSBC Global maintained its 'buy' rating on Jio and Bharti Airtel with a target price of INR 1,750 and INR 2,350, respectively, according to an NDTV Profit post on X. The brokerage maintained its 'reduce' rating on Vodafone Idea with a target price of INR 5.80.

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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 Akshat Saksena

Edited by Deepshikha Bhardwaj

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