Telecom Stocks Outlook
Bias positive; tariff hike seen as next trigger
This story was originally published at 21:35 IST on 22 May 2026
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NEW DELHI – Analysts are positive on the stocks of telecommunication companies for the next week. Earnings of major companies such as Bharti Airtel Ltd. and Vodafone Idea Ltd. were largely in line with expectations, they said. The next positive trigger for these stocks will be the tarrif hike, which is expected around Jul-Aug, they added.
Piyush Pandey, senior vice-president and research analyst at Centrum Broking Ltd., expects companies in the sector to announce an average of 12% hike in tariffs. The hike will be more for plans at higher price points while those at lower price points will likely see a smaller increase, he said.
Next week, the BSE Telecommunication index is likely to find initial support at 3204 points and face resistance at 3450 points, according to Ganesh Angaj, head technical analyst at NVS Brokerage Pvt. Ltd. Beyond these levels, Angaj estimated support and resistance at 3055 points and 3545 points, respectively.
Friday, the key sectoral index ended almost 1% higher at 3430.29 points. The index rose 2.2% over the week.
Last week, Bharti Airtel reported a consolidated net profit of INR 73.25 billion for the March quarter, up over 10% sequentially. The Nifty 50 company's bottom line was hit by a one-time charge of INR 31.61 billion on account of regulatory and government levies but received help from a deferred tax reversal of INR 13.52 billion. On the revenue front, the company reported a 2.6% sequential growth for the quarter at INR 553.83 billion.
On other hand, after reporting net loss for the past 30 quarters, Vodafone Idea Ltd. returned to black in the March quarter, on the back of a one-time income of INR 574.91 billion. The company reported a consolidated net profit of INR 519.70 billion for the quarter on revenue of INR 113.32 billion.
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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 | 1,871.40 | (-)1.80 | 1,906.40 | 1,851.80 |
| Mahanagar Telephone Nigam | 29.28 | 0.20 | 31.10 | 28.20 |
| Reliance Industries | 1,354.50 | 1.40 | 1,375.30 | 1,338.70 |
| Tata Communications | 1,964.00 | 16.90 | 2,037.00 | 1,848.00 |
| Tata Teleservices Maharashtra | 42.19 | 0.40 | 42.90 | 41.70 |
| Vodafone Idea | 13.73 | 6.00 | 14.20 | 13.30 |
| Index | Levels | |||
| Nifty 50 | 23719.30 | 0.30 | 23906.60 | 23577.30 |
| S&P BSE Sensex | 75415.35 | 0.20 | 76065.90 | 74905.50 |
End
Reported by Shakshi Jain
Edited by Akul Nishant Akhoury
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