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Informist, Friday, Jan. 9, 2026

 

MUMBAI – Shares of telecommunication companies are likely to remain rangebound in the near-term, analysts said. In 2026, telecom companies are expected to shift toward monetisation and away from pursuing market-share growth. Further, the proposed listing of Jio Platforms Ltd., parent of Reliance Jio Infocomm Ltd., will help with tariff hikes as the telecom operator will be under increased scrutiny, analysts said. 

 

"Telecom stocks seem to trade sideways," Vipin Kumaar, assistant vice president of equity research and portfolio management services at Globe Market Capital, said. Among individual stocks, the analyst expects Bharti Airtel Ltd. to find support at INR 1,930 and resistance around INR 2,100, while Vodafone Idea Ltd. is likely to find support at INR 10 and resistance at INR 13.     

 

Global brokerage firm Jefferies expects a 15?ross-the-board tariff hike in June, two years after the last round of hikes, as operators pivot towards monetisation and move away from seeking to acquire higher market share. The brokerage expects the sector's revenue to rise 16% in 2026-27 (Apr-Mar), driven by around 14% expansion in average revenue per user, according to a report from The Economic Times.

 

Jefferies expects the listing of Reliance Jio Platforms in the first half of 2026 to serve as a re-rating catalyst for Bharti Airtel Ltd., with tariff hikes and heavier sector weight in indices working in its favour. Reliance Jio's listing is expected to sharpen the operator's focus on monetisation and returns amid increased market scrutiny. This is likely to increase the possibility of tariff hikes in 2026, according to the brokerage. 

 

Once Reliance Jio is included in the benchmark indices, with around 33% free float, Jefferies expects the telecom sector's neutral weightage in headline indices such as the Nifty 50 and MSCI India to increase to 7–8% from 4–5%. The brokerage raised its target price on Bharti Airtel to INR 2,760 from INR 2,635, according to NDTV Profit. For the December quarter, Bharti Airtel's revenue is expected to rise 4.1% quarter-on-quarter, with revenue from India's mobile services growing 2.6%, driven by a moderate rise in average revenue per user and subscriber additions, according to Nuvama Institutional Equities. 

 

Nuvama expects Vodafone Idea's decline in subscriber base to be partially offset by growth in average revenue per user, projecting a 0.4% increase in revenue for the December quarter. The company's subscriber loss will likely persist, the brokerage said.

 

Overall, the cumulative net profit of five telecom companies in the Nifty 200 index is expected to decline 35% on year and 7% on quarter in the December quarter. Net profit is expected to decline due to the loss incurred by debt-ridden Vodafone Idea. The aggregate net sales of these companies are expected to rise 14% in the December quarter, driven by a 20% year-on-year increase in Bharti Airtel.

      

 

TOP HEADLINES

 

* DoT asks Vodafone Idea to pay INR 1.24 bln/year during 2026-2031, rest later
* COAI flags gaps in direct-to-mobile broadcasting tests, calls for review

 

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

 

Company	Price	Week-on-week  change in %	Resistance	Support
Bharti Airtel	2,027.10	(-)3.80	2105.60	1984.00
Mahanagar Telephone Nigam	34.36	(-)6.60	36.00	33.30
Reliance Industries	1475.30	(-)7.40	1488.30	1458.50
Tata Communications	1741.70	(-)2.70	1812.30	1690.90
Tata Teleservices Maharashtra	46.70	(-)6.20	49.90	43.40
Vodafone Idea	11.26	(-)4.40	13.00	10.30
Nifty 50	25683.30	(-)2.50	26066.60	25431.40
S&P BSE Sensex	83576.24	(-)2.60	84798.90	82791.00

 

 

End

 

Reported by Akshat Saksena

Edited by Saji George Titus

 

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