Narrative Update • Jul 20
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Indian (NIFTY) Telecom Sector Analysis
UpdatedJul 23, 2026
DataAggregated Company Financials
Companies146
- 7D0.8%
- 3M6.3%
- 1Y-1.8%
- YTD-5.9%
Over the last 7 days, the Telecom industry has remained flat. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 21% per annum.
Sector Valuation and Performance
Has the Indian Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 23 Jul 2026 | ₹17.3t | ₹3.7t | ₹442.7b | 20.4x | 39x | 4.7x |
| Sat, 20 Jun 2026 | ₹16.9t | ₹3.7t | ₹444.5b | 19.6x | 38x | 4.6x |
| Mon, 18 May 2026 | ₹16.7t | ₹3.6t | ₹452.5b | 22.1x | 36.9x | 4.6x |
| Wed, 15 Apr 2026 | ₹16.4t | ₹3.5t | ₹492.1b | 22.1x | 33.3x | 4.7x |
| Fri, 13 Mar 2026 | ₹15.7t | ₹3.5t | ₹491.9b | 20.1x | 31.9x | 4.5x |
| Sun, 08 Feb 2026 | ₹17.4t | ₹3.5t | ₹479.0b | 21x | 36.3x | 5x |
| Tue, 06 Jan 2026 | ₹18.1t | ₹3.4t | ₹566.3b | 21.7x | 32x | 5.3x |
| Thu, 04 Dec 2025 | ₹17.8t | ₹3.4t | ₹566.3b | 21.7x | 31.4x | 5.2x |
| Sat, 01 Nov 2025 | ₹17.7t | ₹3.3t | ₹542.9b | 24.6x | 32.6x | 5.4x |
| Mon, 29 Sep 2025 | ₹16.6t | ₹3.3t | ₹544.2b | 24.6x | 30.6x | 5.1x |
| Wed, 27 Aug 2025 | ₹16.5t | ₹3.3t | ₹542.0b | 25.9x | 30.5x | 5.1x |
| Fri, 25 Jul 2025 | ₹17.1t | ₹3.1t | ₹517.5b | 29.4x | 33x | 5.4x |
| Sun, 22 Jun 2025 | ₹17.0t | ₹3.1t | ₹507.9b | 29x | 33.6x | 5.5x |
| Tue, 20 May 2025 | ₹16.2t | ₹3.1t | ₹510.8b | 28.1x | 31.6x | 5.2x |
| Thu, 17 Apr 2025 | ₹15.9t | ₹3.0t | ₹410.6b | 27.8x | 38.7x | 5.3x |
| Sat, 15 Mar 2025 | ₹14.3t | ₹3.1t | ₹416.8b | 25.3x | 34.3x | 4.7x |
| Mon, 10 Feb 2025 | ₹15.2t | ₹3.0t | ₹394.7b | 33.8x | 38.5x | 5x |
| Wed, 08 Jan 2025 | ₹15.0t | ₹3.1t | ₹257.1b | 36.2x | 58.3x | 4.9x |
| Fri, 06 Dec 2024 | ₹15.4t | ₹3.1t | ₹261.6b | 33.5x | 59x | 5x |
| Sun, 03 Nov 2024 | ₹15.2t | ₹3.0t | ₹286.0b | 33.7x | 53.1x | 5x |
| Tue, 01 Oct 2024 | ₹16.2t | ₹3.0t | ₹251.5b | 38.1x | 64.3x | 5.4x |
| Thu, 29 Aug 2024 | ₹15.1t | ₹3.0t | ₹257.2b | 37x | 58.7x | 5x |
| Sat, 27 Jul 2024 | ₹14.7t | ₹3.0t | ₹216.9b | 37.9x | 67.6x | 4.9x |
| Mon, 24 Jun 2024 | ₹13.7t | ₹3.0t | ₹218.6b | 35.8x | 62.5x | 4.6x |
| Wed, 22 May 2024 | ₹12.8t | ₹3.0t | ₹238.1b | 32.9x | 53.6x | 4.3x |
| Fri, 19 Apr 2024 | ₹12.2t | ₹3.0t | ₹238.3b | 32.5x | 51.2x | 4.1x |
| Sun, 17 Mar 2024 | ₹11.0t | ₹2.8t | ₹234.2b | 31.7x | 47x | 3.9x |
| Tue, 13 Feb 2024 | ₹10.4t | ₹2.8t | ₹230.8b | 42.7x | 45.1x | 3.7x |
| Thu, 11 Jan 2024 | ₹10.2t | ₹2.8t | ₹203.6b | 38.7x | 50.3x | 3.7x |
| Sat, 09 Dec 2023 | ₹9.5t | ₹2.8t | ₹203.6b | 34.7x | 46.7x | 3.4x |
| Mon, 06 Nov 2023 | ₹8.9t | ₹2.8t | ₹199.7b | 34.1x | 44.6x | 3.2x |
| Wed, 04 Oct 2023 | ₹8.9t | ₹2.7t | ₹181.1b | 35x | 49.3x | 3.3x |
| Fri, 01 Sep 2023 | ₹8.4t | ₹2.7t | ₹180.8b | 33x | 46.4x | 3.1x |
| Sun, 30 Jul 2023 | ₹8.5t | ₹2.7t | ₹206.2b | 35.4x | 41.1x | 3.2x |
Price to Earnings Ratio
41.1x
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 39.0x which is lower than its 3-year average PE of 44.0x.
- The industry is trading close to its 3-year average PS ratio of 4.6x.
Past Earnings Growth
- The earnings for companies in the Communication Services industry have grown 29% 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 Market | -0.43% | |
| Telecom | 0.80% | |
| Wireless Telecom | 1.57% | |
| Entertainment | 0.77% | |
| Interactive Media and Services | 0.63% | |
| Media | -0.056% | |
| Telecom Services and Carriers | -3.46% | |
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 29.7%, which is higher than its past year's earnings growth of 1.4% per year.
- Investors are most pessimistic about the Telecom Services and Carriers industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 19.7x.
Forecasted Growth
- Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 30% over the next 5 years.
- This is better than its past earnings growth rate of 1.4% per year.
- In contrast, the Interactive Media and Services industry is expected to see its earnings grow by 9.7% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 532454 Bharti Airtel | ₹1.95k | 1.7% +₹198.6b | 0.3% | PE44.5x | |
| PFOCUS Prime Focus | ₹285.35 | 7.8% +₹16.0b | 77.2% | PE101.2x | |
| AMAGI Amagi Media Labs | ₹611.85 | 9.0% +₹10.9b | n/a | PE184.7x | |
| MPSLTD MPS | ₹2.56k | 27.8% +₹9.5b | 5.9% | PE23.1x | |
| ZEEL Zee Entertainment Enterprises | ₹105.39 | 3.5% +₹3.4b | -18.1% | PE37.1x |
