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Indian (NIFTY) Telecom Sector Analysis

UpdatedJan 24, 2026
DataAggregated Company Financials
Companies135
  • 7D-2.4%
  • 3M-3.3%
  • 1Y12.4%
  • YTD-6.4%

Over the last 7 days, the Telecom industry has dropped 2.4%, driven by Bharti Airtel declining 1.5%. In the past year, the industry has gained 12%. Earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

Has the Indian Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 Jan 2026₹17.0t₹3.4t₹532.0b20.2x31.9x5x
Tue, 23 Dec 2025₹18.2t₹3.4t₹566.2b21.4x32.1x5.4x
Thu, 20 Nov 2025₹18.3t₹3.4t₹573.1b23.8x31.9x5.4x
Sat, 18 Oct 2025₹17.3t₹3.3t₹543.3b24.5x31.9x5.3x
Mon, 15 Sep 2025₹16.6t₹3.3t₹542.7b25x30.5x5.1x
Wed, 13 Aug 2025₹16.2t₹3.3t₹538.2b28.4x30x5x
Fri, 11 Jul 2025₹17.2t₹3.1t₹508.7b29.7x33.8x5.5x
Sun, 08 Jun 2025₹16.7t₹3.1t₹507.2b29.9x32.8x5.3x
Tue, 06 May 2025₹16.3t₹3.0t₹416.7b27.1x39.1x5.4x
Thu, 03 Apr 2025₹15.4t₹3.0t₹410.6b27.1x37.4x5.1x
Sat, 01 Mar 2025₹13.9t₹3.1t₹416.8b25.6x33.3x4.5x
Mon, 27 Jan 2025₹14.9t₹3.0t₹271.3b34.4x55x5x
Wed, 25 Dec 2024₹15.1t₹3.1t₹257.1b36.6x58.6x4.9x
Fri, 22 Nov 2024₹14.5t₹3.1t₹263.3b31.7x54.9x4.7x
Sun, 20 Oct 2024₹16.0t₹3.0t₹248.9b34.8x64.2x5.3x
Tue, 17 Sep 2024₹15.7t₹3.0t₹257.2b35.3x61.1x5.2x
Thu, 15 Aug 2024₹14.3t₹3.0t₹256.8b37.8x55.5x4.7x
Sat, 13 Jul 2024₹13.9t₹3.0t₹218.5b35.6x63.6x4.7x
Mon, 10 Jun 2024₹13.4t₹3.0t₹217.2b35.4x61.6x4.5x
Wed, 08 May 2024₹12.2t₹3.0t₹241.6b34.4x50.5x4.1x
Fri, 05 Apr 2024₹11.3t₹2.8t₹234.2b31.7x48.3x4x
Sun, 03 Mar 2024₹10.7t₹2.8t₹233.9b40.8x45.7x3.8x
Tue, 30 Jan 2024₹10.8t₹2.8t₹221.7b43.4x48.6x3.8x
Thu, 28 Dec 2023₹9.7t₹2.8t₹203.7b33.5x47.8x3.5x
Sat, 25 Nov 2023₹9.3t₹2.8t₹203.6b31.2x45.4x3.4x
Mon, 23 Oct 2023₹9.0t₹2.7t₹180.3b36.9x50x3.3x
Wed, 20 Sep 2023₹8.9t₹2.7t₹181.1b33.8x49.1x3.3x
Fri, 18 Aug 2023₹8.3t₹2.7t₹181.6b34.1x45.5x3.1x
Sun, 16 Jul 2023₹8.3t₹2.6t₹196.6b32.6x42.3x3.2x
Tue, 13 Jun 2023₹7.8t₹2.6t₹205.5b32.2x38x3x
Thu, 11 May 2023₹7.3t₹2.6t₹157.5b34.5x46.6x2.8x
Sat, 08 Apr 2023₹7.1t₹2.6t₹164.0b32.3x43.3x2.8x
Mon, 06 Mar 2023₹7.1t₹2.6t₹163.6b31.4x43.7x2.8x
Wed, 01 Feb 2023₹7.2t₹2.5t₹207.3b32.4x34.9x2.9x
Price to Earnings Ratio

34.9x


Total Market Cap: ₹7.2tTotal Earnings: ₹207.3bTotal Revenue: ₹2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Telecom Sector Price to Earnings3Y Average 45.2x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Communication Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 31.9x which is lower than its 3-year average PE of 45.2x.
  • The 3-year average PS ratio of 4.3x is lower than the industry's current PS ratio of 5.0x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 37% per year over the last three years.
  • Revenues for these companies have grown 10% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Telecom sector?

IN Market-3.58%
Telecom-2.37%
Wireless Telecom-1.43%
Interactive Media and Services-2.59%
Entertainment-4.56%
Media-4.68%
Telecom Services and Carriers-6.84%
Industry PE
  • Investors are most optimistic about the Entertainment industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 39.6%, which is higher than its past year's earnings growth of 7.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 40% over the next 5 years.
  • This is better than its past earnings growth rate of 7.0% per year.
  • In contrast, the Interactive Media and Services industry is expected to see its earnings decline by 17% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SUNTV Sun TV Network₹563.952.9%
+₹6.3b		-11.9%PE13.7x
NAZARA Nazara Technologies₹277.903.5%
+₹3.5b		12.2%PE159.4x
DBCORP D. B₹250.504.7%
+₹2.0b		-3.3%PS4x
530943 Sri Adhikari Brothers Television Network₹2.03k0.9%
+₹435.1m		286.4%PS627.8x
BHARTIHEXA Bharti Hexacom₹1.62k0.04%
+₹350.0m		22.9%PE52.4x

Latest News

INDUSTOWER
₹413.15
Indus Towers
7D
-4.8%
1Y
12.3%

INDUSTOWER: African Expansion Via UAE Hubs Will Shape Balanced Forward Outlook

Narrative Update Analysts have lifted their price target on Indus Towers by about ₹20, from roughly ₹423 to ₹443. This change reflects updated assumptions around the discount rate, revenue growth, profit margin, and future P/E expectations.
SIGNPOST
₹207.56
Signpost India
7D
2.7%
1Y
-45.5%
TATACOMM
₹1,560.20
Tata Communications
7D
-11.1%
1Y
-4.2%

AI Infrastructure And SASE Tailwinds Will Support Gradual Margin Gains Without Repricing

Catalysts About Tata Communications Tata Communications provides global core connectivity and digital infrastructure services across data, cloud, security, media and customer interaction platforms. What are the underlying business or industry changes driving this perspective?
HFCL
₹61.10
HFCL
7D
-10.2%
1Y
-38.4%
IDEA
₹9.93
Vodafone Idea
7D
-8.2%
1Y
5.0%

IDEA: Upcoming Funding Talks And Board Actions Will Reshape Future Prospects

Analysts have inched up their price target for Vodafone Idea to ₹15.10 from ₹15.00, citing updated assumptions on discount rate, revenue growth, profit margin and future P/E as the key drivers behind the recalibration. What's in the News A board meeting is scheduled for Jan 27, 2026 to consider and approve standalone and consolidated unaudited financial results for the third quarter and nine months ended Dec 31, 2025 (company filing).
AFFLE
₹1,579.80
Affle 3i
7D
-8.3%
1Y
2.7%

AFFLE: Higher Margin Outlook Will Support A More Optimistic Price Scenario

Analysts have lifted their price target on Affle 3i from ₹2,115 to ₹2,295, reflecting updated assumptions around slightly higher projected revenue growth and profit margins, paired with a modestly lower future P/E multiple and a small adjustment to the discount rate. What's in the News Board meeting scheduled for November 1, 2025, to review and approve the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025 (company filing).
MATRIMONY
₹567.80
Matrimony.com
7D
1.5%
1Y
-7.7%

MATRIMONY: Future Returns Will Depend On Stable Margins And Disciplined Buyback Execution

Analysts have kept their fair value estimate for Matrimony.com steady at ₹570.0 per share, with only slight tweaks to inputs such as discount rate, revenue growth, profit margins and future P/E assumptions to reflect updated modeling. What's in the News The Board of Directors met on December 8, 2025 to consider a share repurchase program, signaling the start of formal discussions around buying back the company’s own shares (Board Meeting / Potential Buyback).
PFOCUS
₹217.52
Prime Focus
7D
-7.5%
1Y
97.6%
NAZARA
₹277.90
Nazara Technologies
7D
3.5%
1Y
12.2%

NAZARA: Slower Revenue And Margin Outlook Will Pressure Future Earnings Multiple

Analysts have revised their price target on Nazara Technologies from ₹665.00 to ₹180.00, reflecting updated assumptions on revenue growth, profit margins, discount rate, and a higher future P/E multiple. What's in the News Nazara Technologies has scheduled a Special or Extraordinary Shareholders Meeting via postal ballot in India on January 15, 2026 to seek approval for the Nazara Technologies Employee Stock Option Scheme 2025 (company event filing).
533217
₹71.24
Hindustan Media Ventures
7D
2.9%
1Y
-14.5%
BHARTIHEXA
₹1,615.20
Bharti Hexacom
7D
0.04%
1Y
22.9%

BHARTIHEXA: Future CFO Transition Will Support Stronger Margin Outlook

Analysts have nudged their fair value estimate for Bharti Hexacom slightly higher from ₹1,947.23 to ₹1,953.00. This reflects updated assumptions on long term revenue growth, profit margins and future P/E multiples, while keeping the discount rate unchanged.
DBCORP
₹250.50
D. B
7D
4.7%
1Y
-3.3%

D. B. Corp Limited (NSE:DBCORP) Just Released Its Third-Quarter Earnings: Here's What Analysts Think

Jan 20
D. B. Corp Limited (NSE:DBCORP) Just Released Its Third-Quarter Earnings: Here's What Analysts Think
532454
₹1,985.25
Bharti Airtel
7D
-1.5%
1Y
20.8%

532454: Leadership Refresh And Network APIs Will Support Stronger Long Term Outlook

Analysts have nudged their price target slightly higher for Bharti Airtel, highlighting small refinements to fair value estimates, revenue growth assumptions, profit margins, and future P/E expectations as the key drivers of this change. What's in the News The Board approved changes to the Memorandum of Association to include emerging technologies and related business activities within existing operations, subject to shareholder approval (Key Developments).
NAUKRI
₹1,300.90
Info Edge (India)
7D
-2.1%
1Y
-12.7%
530943
₹2,032.90
Sri Adhikari Brothers Television Network
7D
0.9%
1Y
286.4%
SUNTV
₹563.95
Sun TV Network
7D
2.9%
1Y
-11.9%

Capital Allocation Trends At Sun TV Network (NSE:SUNTV) Aren't Ideal

Jan 01
Capital Allocation Trends At Sun TV Network (NSE:SUNTV) Aren't Ideal