Telecom Stocks Outlook
Near term view positive on growth visibility
This story was originally published at 20:52 IST on 17 April 2026
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NEW DELHI – Analysts are positive on telecommunications stocks in the near term due to healthy visibility on revenue growth for companies in the sector, analysts said. "Regular tariff hikes coupled with premiumisation are driving an increase in average revenue per user. So, in a way, you can say that over the next 4-5 years, you'll be able to see an average 10% increase in ARPU per year," said Piyush Pandey, senior vice president and equity analyst at Centrum Broking.
Friday, the BSE Telecommunications index ended at 2981.73 points, up 0.4%. During the week, the index rose 1.1%.
Next week, the sectoral index is likely to find support around 2800 points and face resistance around 3180 points, said Rishabh Srivastava, a research analyst at Lakshmishree Investment and Securities. "The recent price action suggests accumulation at lower levels. If the index sustains above 3000 (points) and breaks 3180 (level) decisively, a strong upward move can follow. Overall structure remains bullish, and dips toward support are likely to attract buyers in the near term."
On a sequential basis, Pandey expects Vodafone Idea to report flat revenues and Bharti Airtel to post about 2.7% growth in the March quarter. He estimates stable margins for both players during the quarter.
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The 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 | 1,846.90 | (-)1.20 | 1,864.40 | 1,821.00 |
| Mahanagar Telephone Nigam | 33.34 | 13.30 | 35.60 | 30.80 |
| Reliance Industries | 1,365.00 | 1.10 | 1,386.20 | 1,329.40 |
| Tata Communications | 1,521.10 | 0.80 | 1,596.60 | 1,477.20 |
| Tata Teleservices Maharashtra | 45.68 | 8.90 | 50.30 | 41.70 |
| Vodafone Idea | 9.61 | 3.90 | 9.80 | 9.40 |
| Index | Levels | |||
| Nifty 50 | 24353.55 | 1.30 | 24549.70 | 23998.00 |
| S&P BSE Sensex | 78493.54 | 1.20 | 79085.00 | 77430.50 |
End
Reported by Shakshi Jain
Edited by Saji George Titus
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