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Informist, Friday, Jul. 17, 2026

 

NEW DELHI – Shares of telecommunications companies are expected to hold steady until earnings announcements kickstart for the June quarter, analysts said. Next week, the BSE Telecommunication index is expected to find initial support at 3510 points and face resistance at 3710 points, according to Ganesh Angaj, head technical analyst at NVS Brokerage Pvt. Ltd. Beyond these levels, Angaj anticipates support and resistance at 3440 points and 3770 points, respectively.

 

"The immediate area around 3420 (points) is an important level to watch. A sustained move above this zone could strengthen the breakout structure and open room for further upside," Rishabh Srivastava, research analyst at Lakshmishree Investment and Securities Pvt. Ltd., said. He, however, added that the index is currently trading near a short-term profit-booking area after a sharp rise, so some consolidation or a mild pullback cannot be ruled out.

 

According to Srivastava, as long as the key sectoral index remains above 3200–3100 points, the broader bullish trend remains intact. 

 

Friday, the BSE Telecommunication index ended 1.5% lower at 3604.38 points. Barring Optiemus Infracom Ltd., all the other index constituents ended the last session of the week in the red. Overall, the index ended three out of the five sessions of the week in the green. 

 

Among the top headlines for the sector this week, the Economic Times reported that the Indian National Space Promotion and Authorisation Centre has approved Reliance Jio's satellite proposal, enabling India to establish its first local low Earth orbit constellation. Jio plans to deploy approximately 1,600 satellites for broadband and mobile services, the report said, adding that the satellite constellation is designed to offer a total capacity of 4.5 to 5 terabits per second, significantly higher than the capacity currently approved for several competing satellite internet projects. 

 

The company has to secure final approvals and the implementation is likely to be gradual, Piyush Pandey, senior vice-president and research analyst at Centrum Broking Ltd., said. "This segment will be very small in terms of revenue contribution," Pandey said. 

 

Friday, Reliance Industries Ltd. reported a consolidated revenue contribution of INR 391.73 billion from Jio Platforms Ltd. for the June quarter, up 2.4% sequentially and almost 12% on year. The average revenue per user improved to INR 215.6 per month in Apr-Jun from INR 214 per month in the trailing quarter. The customer base of Jio Platforms expanded by 8.9 million users sequentially to 533.3 million as of Jun-end.

 

Pandey estimates a 1.5% sequential growth in the ARPU of Jio's closest rival, Bharti Airtel Ltd., for the June quarter, driven by the migration of users to fourth- and fifth-generation networks.

 

TOP HEADLINES

 

* ITI gets INR-8.56-bln order from BSNL to expand 4G mobile network
* Exide in talks with telecom tower cos to push lithium-ion battery sales
* BSNL Apr-Jun sales from core business verticals up 10% YoY  to INR 44.18 bln
* Bharti Airtel investing for stronger transport network, advanced 5G ops

 

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	1908.80	(-)0.60	1934.70	1889.70
Mahanagar Telephone Nigam	28.09	(-)4.00	29.30	27.40
Reliance Industries	1327.20	1.50	1352.10	1283.70
Tata Communications	1817.10	(-)2.10	1871.60	1773.80
Tata Teleservices Maharashtra	40.28	(-)2.40	41.10	39.60
Vodafone Idea	13.74	(-)3.20	14.10	13.50
Index	Levels
Nifty 50	24334.30	0.50	24535.10	23998.60
S&P BSE Sensex	78151.45	0.80	78888.60	76939.50

 

End

 

Reported by Shakshi Jain

Edited by Saji George Titus

 

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