Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Telecom Sector Analysis

UpdatedFeb 22, 2026
DataAggregated Company Financials
Companies134
  • 7D-1.2%
  • 3M-6.8%
  • 1Y15.6%
  • YTD-5.8%

Over the last 7 days, the Telecom industry has dropped 1.2%, driven by Bharti Airtel declining 1.3%. Over the past 12 months, the industry was up 16%. Earnings are forecast to grow by 23% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Feb 2026₹17.1t₹3.5t₹491.8b20.3x34.8x4.9x
Tue, 20 Jan 2026₹17.3t₹3.4t₹532.0b21.4x32.4x5.1x
Thu, 18 Dec 2025₹17.9t₹3.4t₹566.2b20.6x31.6x5.3x
Sat, 15 Nov 2025₹17.9t₹3.4t₹573.0b27x31.3x5.3x
Mon, 13 Oct 2025₹16.9t₹3.3t₹544.4b23.9x31.1x5.2x
Wed, 10 Sep 2025₹16.5t₹3.3t₹542.7b26.2x30.3x5x
Fri, 08 Aug 2025₹16.6t₹3.3t₹536.8b28.7x31x5.1x
Sun, 06 Jul 2025₹17.8t₹3.1t₹509.1b29.4x34.9x5.7x
Tue, 03 Jun 2025₹16.5t₹3.1t₹507.3b28.4x32.5x5.3x
Thu, 01 May 2025₹16.3t₹3.0t₹417.1b26.9x39x5.4x
Sat, 29 Mar 2025₹15.2t₹3.1t₹416.8b24.9x36.4x5x
Mon, 24 Feb 2025₹14.6t₹3.1t₹416.8b28.6x34.9x4.8x
Wed, 22 Jan 2025₹14.8t₹3.0t₹245.1b36.6x60.6x5x
Fri, 20 Dec 2024₹15.3t₹3.1t₹257.1b35.1x59.4x5x
Sun, 17 Nov 2024₹14.7t₹3.1t₹265.1b31.9x55.4x4.8x
Tue, 15 Oct 2024₹15.9t₹3.0t₹251.0b35.9x63.4x5.3x
Thu, 12 Sep 2024₹15.2t₹3.0t₹257.1b34.6x59x5x
Sat, 10 Aug 2024₹14.3t₹3.0t₹252.2b39.7x56.9x4.8x
Mon, 08 Jul 2024₹13.9t₹3.0t₹218.5b37.2x63.4x4.6x
Wed, 05 Jun 2024₹12.2t₹3.0t₹218.0b34.3x56.1x4.1x
Fri, 03 May 2024₹12.5t₹3.0t₹242.6b34.5x51.5x4.2x
Sun, 31 Mar 2024₹11.3t₹2.8t₹234.2b31.7x48x4x
Tue, 27 Feb 2024₹10.6t₹2.8t₹233.9b42.1x45.4x3.7x
Thu, 25 Jan 2024₹10.9t₹2.8t₹198.2b42.8x55.2x3.9x
Sat, 23 Dec 2023₹9.5t₹2.8t₹203.7b32.9x46.8x3.5x
Mon, 20 Nov 2023₹9.1t₹2.8t₹203.6b34.5x44.7x3.3x
Wed, 18 Oct 2023₹9.1t₹2.7t₹181.2b34.8x50.3x3.4x
Fri, 15 Sep 2023₹8.9t₹2.7t₹181.1b33.6x48.9x3.3x
Sun, 13 Aug 2023₹8.4t₹2.7t₹181.3b31.6x46.2x3.1x
Tue, 11 Jul 2023₹8.2t₹2.6t₹196.7b34.1x41.6x3.1x
Thu, 08 Jun 2023₹7.8t₹2.6t₹205.5b34.1x38x3x
Sat, 06 May 2023₹7.3t₹2.6t₹157.4b34x46.1x2.8x
Mon, 03 Apr 2023₹7.0t₹2.6t₹164.0b29.7x42.5x2.7x
Wed, 01 Mar 2023₹7.0t₹2.6t₹163.6b30.7x42.8x2.7x
Price to Earnings Ratio

42.8x


Total Market Cap: ₹7.0tTotal Earnings: ₹163.6bTotal Revenue: ₹2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Telecom Sector Price to Earnings3Y Average 45x202420252026
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 34.8x which is lower than its 3-year average PE of 45.0x.
  • The 3-year average PS ratio of 4.4x is lower than the industry's current PS ratio of 4.9x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 44% per year over the last three years.
  • Revenues for these companies have grown 11% 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 Market0.28%
Telecom-1.18%
Telecom Services and Carriers1.50%
Wireless Telecom-1.18%
Media-2.54%
Entertainment-2.62%
Interactive Media and Services-4.54%
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 44.8%, which is higher than its past year's earnings growth of 3.9% per year.
  • Investors are most pessimistic about the Media industry, which is trading below its 3-year average of 33.0x.
Forecasted Growth
  • Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 45% over the next 5 years.
  • This is better than its past earnings growth rate of 3.9% per year.
  • In contrast, the Interactive Media and Services industry is expected to see its earnings decline by 25% 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
INDUSTOWER Indus Towers₹474.351.7%
+₹20.4b		41.0%PE17.5x
BHARTIHEXA Bharti Hexacom₹1.69k1.2%
+₹9.7b		28.1%PE48.1x
TATACOMM Tata Communications₹1.69k1.8%
+₹8.5b		16.3%PE31.2x
AMAGI Amagi Media Labs₹410.758.9%
+₹7.3b		n/aPE331.4x
SUNTV Sun TV Network₹584.651.4%
+₹3.3b		1.5%PE14.6x

Latest News

532368
₹11.06
Brightcom Group
7D
-18.2%
1Y
n/a
IDEA
₹11.16
Vodafone Idea
7D
-1.2%
1Y
38.8%

IDEA: Future Guarantee And Pledge Obligations Will Undermine Optimistic Margin Outlook

Analysts have nudged their price target on Vodafone Idea higher to ₹5.10 from ₹5.00, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News A board meeting is scheduled on 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).
ZEEL
₹90.70
Zee Entertainment Enterprises
7D
-5.7%
1Y
-7.3%

ZEEL: Upcoming Unaudited Results Will Expose Risks To Stretched Share Price

Analysts have maintained their fair value estimate for Zee Entertainment Enterprises at ₹80.00 per share, citing relatively unchanged long term assumptions around revenue growth, profit margin and future P/E, along with a slightly adjusted discount rate. What's in the News Zee Entertainment Enterprises has scheduled a board meeting for January 22, 2026, to review and approve its unaudited financial results.
542727
₹2,475.40
City Pulse Multiventures
7D
-20.0%
1Y
102.5%
BHARTIHEXA
₹1,688.10
Bharti Hexacom
7D
1.2%
1Y
28.1%

BHARTIHEXA: Upcoming CFO Transition Will Support Stronger Margin Outlook

Analysts have reduced their price target on Bharti Hexacom from ₹1,953 to about ₹1,899, citing updated assumptions for revenue growth, profit margins and future P/E that slightly adjust their view of the stock's risk and return profile. What's in the News A board meeting is scheduled on February 4, 2026, to consider and record audited financial results for Q3 and the nine months ended December 31, 2025 (company filing).
NAUKRI
₹1,074.80
Info Edge (India)
7D
-5.8%
1Y
-28.7%

NAUKRI: Upcoming Subsidiary Investments And Board Actions Will Support Long Term Upside

Analysts have adjusted their fair value estimate for Info Edge (India) to ₹1,464 from ₹1,554, reflecting tweaked assumptions around discount rate, revenue growth and future P/E, while keeping profit margin expectations broadly steady. What's in the News Board meeting scheduled for February 13, 2026, to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, consider a second interim dividend, and review amendments to the company’s dividend distribution policy (company filing).
532454
₹1,977.70
Bharti Airtel
7D
-1.3%
1Y
20.7%

532454: Retail Expansion And 5G Rollout Will Drive Stronger Long Term Outlook

Analysts have lifted their fair value estimate for Bharti Airtel from ₹2,336.62 to ₹2,356.88, reflecting updated assumptions for slightly higher revenue growth, a modestly improved profit margin, and a lower future P/E multiple. What's in the News Bharti Airtel was removed from the FTSE All-World Index (USD), which may affect how some index-linked funds and passive investors gain exposure to the stock.
BALAJITELE
₹100.16
Balaji Telefilms
7D
11.3%
1Y
73.5%
AMAGI
₹410.75
Amagi Media Labs
7D
8.9%
1Y
n/a
TATACOMM
₹1,686.70
Tata Communications
7D
1.8%
1Y
16.3%

TATACOMM: New Leadership And AI Suite Will Support Future Upside

Analysts have kept their fair value estimate for Tata Communications steady at ₹1,981.80. A slightly lower discount rate and a marginally adjusted future P/E assumption support the unchanged price target.
SUNTV
₹584.65
Sun TV Network
7D
1.4%
1Y
1.5%

Sun TV Network Limited Just Missed EPS By 19%: Here's What Analysts Think Will Happen Next

Feb 10
Sun TV Network Limited Just Missed EPS By 19%: Here's What Analysts Think Will Happen Next
INDUSTOWER
₹474.35
Indus Towers
7D
1.7%
1Y
41.0%

INDUSTOWER: African Expansion And GIFT City Hub Will Support Multiple Re-Rating

Analysts have nudged their fair value estimate for Indus Towers slightly lower from ₹565.00 to ₹560.00, citing updated assumptions that pair a reduced discount rate and future P/E with revised expectations for revenue growth and profit margins. What's in the News Indus Towers plans to incorporate a wholly owned subsidiary in GIFT City, Gujarat, to act as an investment holding and treasury hub for overseas subsidiaries under the IFSC framework, as approved by the Committee of Directors on January 22, 2026 (company announcement).
MPSLTD
₹1,618.90
MPS
7D
8.4%
1Y
-39.7%

Shareholders Would Enjoy A Repeat Of MPS' (NSE:MPSLTD) Recent Growth In Returns

Feb 07
Shareholders Would Enjoy A Repeat Of MPS' (NSE:MPSLTD) Recent Growth In Returns
AFFLE
₹1,486.20
Affle 3i
7D
-4.8%
1Y
-3.9%

AFFLE: Higher Future P/E Will Balance Softer Margins And Board Review

Analysts have lifted their price target for Affle 3i from ₹1,623.89 to ₹1,700.00, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News A board meeting is scheduled for January 31, 2026 to consider and approve unaudited standalone financial results for the third quarter ended December 31, 2025 (Key Developments).
HFCL
₹71.31
HFCL
7D
2.3%
1Y
-20.2%
530943
₹1,485.75
Aqylon Nexus
7D
-22.6%
1Y
203.9%