Telecom Stocks Outlook
Seen stable in absence of triggers; bias positive
This story was originally published at 21:32 IST on 24 April 2026
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NEW DELHI – Stocks of telecommunication companies are likely to move in a range next week in the absence of any foreseeable triggers, according to analysts. The BSE Telecommunication index is likely to find immediate support around 2800–2850 points in the coming week, while 3170 points may pose resistance, said Rishabh Srivastava, a research analyst from Lakshmishree Investment and Securities Ltd. A move beyond 3170 points could trigger fresh upward momentum towards 3300 points and on the other hand, a slip below 2670 points may lead to further selling pressure towards 2500 points, Srivastava added.
"BSE Telecom index is currently trading in a range-bound structure after facing rejection near the 3170 (points) resistance zone. Price is consolidating between 3170 (points) resistance and 2740–2670 (points) support, indicating indecision in the market", Srivastava said.
Friday, the sectoral index ended at 2948.91 points, down 1.3%. Barring ADC India Communications Ltd., HFCL Ltd., and Tejas Networks Ltd., all the index constituents ended the session in the red. For the week, the index fell 1.1%.
Late Friday, Reliance Jio Infocomm Ltd. reported a 2% sequential growth in its net profit for the March quarter at INR 73.17 billion. Its revenue from operations for the quarter rose 1.9% to INR 333.81 billion. On a year-on-year basis, the net profit rose 10.2% and revenue rose 11.2%. "...We are advancing steadily towards the listing of Jio Platforms...As we work to democratise access to AI (artificial intelligence) tools and next-generation technology platforms, Jio is well placed to shape how India communicates, computes and consumes content in the years ahead.," Reliance Industries Ltd. Chairman and Managing Director, Mukesh D. Ambani, was quoted as saying in a press release.
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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 | 1,814.50 | (-)1.80 | 1,867.60 | 1,780.80 |
| Mahanagar Telephone Nigam | 30.61 | (-)8.20 | 32.60 | 29.50 |
| Reliance Industries | 1,327.80 | (-)2.70 | 1,353.80 | 1,312.00 |
| Tata Communications | 1,520.60 | (-)0.00 | 1,639.60 | 1,431.40 |
| Tata Teleservices Maharashtra | 44.63 | (-)2.30 | 49.10 | 41.10 |
| Vodafone Idea | 9.52 | (-)0.90 | 9.80 | 9.20 |
| Index | Levels | |||
| Nifty 50 | 23897.95 | (-)1.90 | 24364.90 | 23580.20 |
| S&P BSE Sensex | 76664.21 | (-)2.30 | 78233.30 | 75619.40 |
End
Reported by Shakshi Jain
Edited by Deepshikha Bhardwaj
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