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Indian (NIFTY) Telecom Sector Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies138
  • 7D-1.9%
  • 3M-14.6%
  • 1Y0.7%
  • YTD-14.7%

Over the last 7 days, the Telecom industry has dropped 1.9%, driven by Affle 3i declining 2.1%. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 23% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Apr 2026₹15.7t₹3.5t₹492.0b20.4x31.8x4.5x
Thu, 05 Mar 2026₹16.4t₹3.5t₹491.9b19.5x33.3x4.7x
Sat, 31 Jan 2026₹16.9t₹3.4t₹582.3b20.7x29x5x
Mon, 29 Dec 2025₹18.0t₹3.4t₹566.2b21.8x31.9x5.3x
Wed, 26 Nov 2025₹18.2t₹3.4t₹566.5b23x32.1x5.4x
Fri, 24 Oct 2025₹17.4t₹3.3t₹544.4b24.9x31.9x5.3x
Sun, 21 Sep 2025₹17.0t₹3.3t₹542.7b25.3x31.2x5.2x
Tue, 19 Aug 2025₹16.4t₹3.3t₹541.8b28.1x30.3x5x
Thu, 17 Jul 2025₹17.1t₹3.1t₹518.8b30.2x33x5.4x
Sat, 14 Jun 2025₹16.4t₹3.1t₹507.6b29.9x32.4x5.3x
Mon, 12 May 2025₹16.1t₹3.0t₹418.7b25.9x38.4x5.4x
Wed, 09 Apr 2025₹15.0t₹3.0t₹410.6b26.1x36.7x5x
Fri, 07 Mar 2025₹14.3t₹3.1t₹416.8b26.6x34.4x4.7x
Sun, 02 Feb 2025₹14.8t₹3.0t₹270.9b32.6x54.5x5x
Tue, 31 Dec 2024₹15.1t₹3.1t₹257.1b35.4x58.7x4.9x
Thu, 28 Nov 2024₹14.9t₹3.0t₹264.7b31x56.4x5x
Sat, 26 Oct 2024₹15.3t₹3.0t₹258.6b31.9x59.1x5.1x
Mon, 23 Sep 2024₹16.1t₹3.0t₹251.5b35.8x64x5.4x
Wed, 21 Aug 2024₹14.3t₹3.0t₹257.1b37.4x55.6x4.7x
Fri, 19 Jul 2024₹14.3t₹3.0t₹217.3b35.6x65.8x4.8x
Sun, 16 Jun 2024₹13.5t₹3.0t₹217.6b35.2x62.2x4.5x
Tue, 14 May 2024₹12.2t₹3.0t₹241.8b32.5x50.5x4.1x
Thu, 11 Apr 2024₹11.5t₹2.8t₹234.2b32.6x49.2x4.1x
Sat, 09 Mar 2024₹11.1t₹2.8t₹233.9b34.2x47.3x3.9x
Mon, 05 Feb 2024₹10.7t₹2.8t₹221.4b44x48.3x3.8x
Wed, 03 Jan 2024₹9.9t₹2.8t₹203.6b36.9x48.5x3.6x
Fri, 01 Dec 2023₹9.5t₹2.8t₹203.6b31.1x46.7x3.4x
Sun, 29 Oct 2023₹8.7t₹2.7t₹184.7b33.5x46.8x3.2x
Tue, 26 Sep 2023₹8.8t₹2.7t₹181.1b33x48.5x3.2x
Thu, 24 Aug 2023₹8.4t₹2.7t₹180.8b31.6x46.4x3.1x
Sat, 22 Jul 2023₹8.4t₹2.7t₹196.9b31.7x42.4x3.1x
Mon, 19 Jun 2023₹7.9t₹2.6t₹196.5b31.3x40.2x3x
Wed, 17 May 2023₹7.3t₹2.6t₹177.2b34.5x41.1x2.8x
Fri, 14 Apr 2023₹7.1t₹2.6t₹164.0b32.3x43.3x2.8x
Price to Earnings Ratio

43.3x


Total Market Cap: ₹7.1tTotal Earnings: ₹164.0bTotal Revenue: ₹2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Telecom Sector Price to Earnings3Y Average 44.6x202420252026
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 31.8x which is lower than its 3-year average PE of 44.6x.
  • The industry is trading close to its 3-year average PS ratio of 4.5x.
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 Market0.0067%
Telecom-1.92%
Media1.73%
Interactive Media and Services0.40%
Entertainment-0.017%
Telecom Services and Carriers-0.25%
Wireless Telecom-2.67%
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 45.3%, which is higher than its past year's earnings growth of 0.8% per year.
  • Investors are most pessimistic about the Media industry, which is trading below its 3-year average of 32.0x.
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 0.8% per year.
  • In contrast, the Interactive Media and Services industry is expected to see its earnings decline by 26% 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
532454 Bharti Airtel₹1.79k0.5%
+₹49.3b		6.2%PE35.9x
IDEA Vodafone Idea₹8.762.7%
+₹24.9b		19.0%PS2.1x
INDUSTOWER Indus Towers₹425.501.8%
+₹19.4b		19.5%PE15.7x
NAUKRI Info Edge (India)₹994.302.7%
+₹17.2b		-22.0%PE47.8x
PFOCUS Prime Focus₹349.506.1%
+₹15.6b		286.5%PS6.4x

Latest News

530943
₹43.32
Aqylon Nexus
7D
-14.2%
1Y
-21.3%
INDUSTOWER
₹425.50
Indus Towers
7D
1.8%
1Y
19.5%

INDUSTOWER: Overseas Expansion Plans Will Likely Expose Earnings To Higher Risk

Analysts have raised their fair value estimate for Indus Towers from ₹300.00 to ₹345.00, citing updated assumptions on discount rate, revenue growth, profit margin, and future P/E as the key drivers of this change. What's in the News Deloitte Haskins & Sells LLP is set to retire as Indus Towers' statutory auditor at the conclusion of the 21st AGM in the 2027 calendar year, after completing its second consecutive term (Auditor Changes).
AFFLE
₹1,418.60
Affle 3i
7D
-2.1%
1Y
-2.0%

AFFLE: Upcoming Board Meeting Results Will Support Bullish Fair Value

Analysts have kept the Affle 3i price target steady at ₹1,700, pointing to slightly higher assumptions for revenue growth and profit margin, partly balanced by a lower future P/E multiple in their updated model. What's in the News Affle 3i has scheduled a Board Meeting for January 31, 2026.
IDEA
₹8.76
Vodafone Idea
7D
2.7%
1Y
19.0%

IDEA: Higher Funding Uncertainty Will Eventually Undermine Recently Improved Outlook

Analysts have slightly trimmed their fair value estimate for Vodafone Idea to ₹5.40 from ₹5.43, reflecting updated assumptions around a higher discount rate, expectations of stronger revenue growth, a marginally softer profit margin, and a modestly lower future P/E multiple. What's in the News Singapore based ST Telemedia and India's JSW Group are among several domestic and global investors in talks with Vodafone Idea for a potential stake, alongside US based Tillman Global Holdings and a few large Indian business houses, with discussions described as exploratory and with no certainty of a deal (ET report).
542727
₹2,337.15
City Pulse Multiventures
7D
-4.4%
1Y
94.8%
532454
₹1,792.40
Bharti Airtel
7D
0.5%
1Y
6.2%

532454: Digital Financial Services Arm Will Support Expansion Of New Connectivity Services

Analysts have nudged their fair value estimate for Bharti Airtel slightly lower from ₹2,351.47 to ₹2,347.63, reflecting small refinements to revenue growth, profit margin and forward P/E assumptions. What's in the News Bharti Airtel has rolled out more than 2,750 new 5G sites across 36 districts in Gujarat over the past 12 months, extending high speed coverage to over 41 million customers and introducing an unlimited data option in its ₹399 recharge pack (Business Expansions).
544248
₹111.25
Mach Conferences and Events
7D
-2.1%
1Y
-37.8%
NAZARA
₹231.55
Nazara Technologies
7D
-0.6%
1Y
-2.5%

NAZARA: Planned Acquisitions And Margin Outlook Will Support Future Upside

Analysts have kept their Nazara Technologies fair value unchanged at ₹400, noting that slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E are the key drivers behind a stable price target despite updated model inputs. What's in the News Nazara Technologies has called a Special or Extraordinary Shareholders Meeting for April 30, 2026, to seek shareholder approvals on specified corporate matters, to be held via video conferencing or other audio visual means (company event filing).
NAUKRI
₹994.30
Info Edge (India)
7D
2.7%
1Y
-22.0%

NAUKRI: Upcoming Board Deals And Subsidiary Moves Will Drive Upside Potential

Analysts have kept their fair value estimate for Info Edge (India) steady at about ₹1,435 per share, with only negligible tweaks to the discount rate, revenue growth, profit margin and future P/E inputs, so the latest price target update reflects a largely unchanged fundamental view. What's in the News A board meeting is scheduled on Mar 27, 2026 at 10:30 IST to consider a contribution agreement with A88 Fund I, a scheme launched by A88 Trust, and the proposed transfer of the entire stake in Shopkirana E Trading Private Limited to Trustroot Internet Private Limited (company filing).
TATACOMM
₹1,402.70
Tata Communications
7D
4.1%
1Y
-9.5%

TATACOMM: Rail Partnership And AI Infrastructure Will Drive Future Upside

Analysts have maintained their fair value estimate for Tata Communications at ₹1,987.89, making only minor adjustments to assumptions such as the discount rate and future P/E. This reflects largely unchanged views on the stock’s medium-term risk and earnings profile.
539115
₹224.10
Alan Scott Enterprises
7D
-3.5%
1Y
56.7%
532371
₹37.49
Tata Teleservices (Maharashtra)
7D
19.8%
1Y
-31.5%
SUNTV
₹588.25
Sun TV Network
7D
3.8%
1Y
-6.8%
PFOCUS
₹349.50
Prime Focus
7D
6.1%
1Y
286.5%
RAJTV
₹28.64
Raj Television Network
7D
-11.9%
1Y
-63.4%
AMAGI
₹316.70
Amagi Media Labs
7D
-2.9%
1Y
n/a