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Informist, Thursday, Jun. 25, 2026

 

MUMBAI – Shares of telecommunication companies are likely to keep consolidating in the near term, with market activity turning stock-specific instead of sectoral bets as the June quarter earnings flow in. The overall positive bias in the market post the cooling of the West Asia war and anticipation of tariff hikes in the current financial year may provide a boost to these stocks, analysts said. However, the impact of the new rulebook by the government will also lend some cues for these stocks.

 

Thursday, the BSE Telecommunication index closed 0.4% lower at 3639.60 points, falling almost 3% on weekly basis. Next week, the index is likely to face resistance at 3800 points and find support at 3500-3450 points. Of the 19 stocks in the index, four closed higher, gaining 0.3-5.0%. On a weekly basis, only five stocks managed to log gains. The Nifty 50 closed 0.1% higher at 24056 points, gaining 0.2% over this week. Indian stock exchanges will be shut Friday on account of Muharram.  

 

The BSE Telecommunication index has witnessed a sharp rise in less than three months. Going ahead, there is a possibility of a short-term pause or consolidation in the near term, Vipin Kumar, technical and derivatives analyst at Globe Capital Market, said. Even minor profit-taking cannot be ruled out at the current levels, however, the overall chart structure remains strong, he said.

 

The Department of Telecommunications has rolled out a new rulebook for telecommunication companies, under which the traditional licence regime will be replaced with an authorisation framework. Reliance Jio, Bharti Airtel, and Vodafone Idea will now operate under government authorisation.

 

Under this new regime, the telecom authority gets the flexibility to modify service conditions without rewriting licences, according to a X post by NDTV Profit. This shift from the legacy licencing system to existing operations will be done in phases, the post said.

 

Next week, telecom stocks may also track the overall market, analysts said, amid a lack of sector-specific cues. Bharti Airtel may still remain in focus after a rating upgrade by S&P Global Ratings. Global brokerage S&P Global Ratings upgraded its long-term issuer credit rating on Bharti Airtel to 'BBB+' from 'BBB', while having a stable outlook on the company.

 

The broking firm expects the telecommunication major's earnings and cash flows to improve its balance sheet over the next 12-24 months. Growing data consumption in high-growth markets of India and Africa will drive higher earnings for Bharti Airtel, S&P said. The stock fell this week after rising for two previous weeks.

 

"Bharti Airtel has been going through a short-term consolidation phase (within a INR 1,740–INR 1,955 range) for the last four months," Kumar said. "Since the medium- and long-term chart structures remain strong, we suggest that traders add long positions on dips around INR 1,750. A breakout above 1955 spot levels will set the tone for medium- to long-term gains." Thursday, the stock closed 1.4% lower at INR 1,850.70 on the National Stock Exchange.

 

Among major news in the sector, brokerages expect Jio Infocomm to drive the growth of Jio Platforms. Jio believes there is some room for increasing tariffs in the current financial year, which will benefit the company's mobility business. Jio expects periodic tariff hikes and rising adoption of premium bundled plans to help the growth in average revenue per user. 

 

Bharti Airtel's competitor, Reliance Industries-owned Jio Platforms, filed a draft red herring prospectus with the Securities and Exchange Board of India last week for an initial public offer of a fresh issue of 270 million shares. The company said it will use the INR 275 billion raised through this issue to pay debt of Jio Infocomm.

 

TOP HEADLINES

 

* Bharti Airtel allots 2.35% equity stake to Indian Continent Investment
* S&P upgrades Bharti Airtel to 'BBB+' on strong Africa ops, deleveraging
* RailTel Corp gets contract worth INR 3.35 bln from Ministry of Railways
* Bharti Airtel raises stake in Airtel Africa by 16.3% to 79% via share swap
* Vodafone Idea raises INR 11.83 bln by issuing warrants to Suryaja Invest

 

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	1850.70	(-)3.20	1903.60	1821.60
Mahanagar Telephone Nigam	30.15	(-)5.40	31.40	29.40
Reliance Industries	1318.10	0.70	1333.60	1306.80
Tata Communications	1991.90	0.20	2079.20	1941.40
Tata Teleservices Maharashtra	42.78	(-)3.20	43.90	42.10
Vodafone Idea	14.06	(-)5.80	14.60	13.70
Index	Levels
Nifty 50	24056.00	0.20	24341.50	23896.30
S&P BSE Sensex	77100.47	0.40	78109.00	76488.90

 

End

 

Reported by Simran Rede

Edited by Deepshikha Bhardwaj

 

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