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

Indian (NIFTY) Telecom Sector Analysis

UpdatedJan 17, 2026
DataAggregated Company Financials
Companies135
  • 7D-0.8%
  • 3M0.08%
  • 1Y15.0%
  • YTD-4.2%

In the last week, the Telecom industry is flat overall, with Bharti Hexacom standing out by going down 8.4%. As for the the longer term, the industry is up 15% over the past 12 months. 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
Sat, 17 Jan 2026₹17.4t₹3.4t₹532.0b21.5x32.6x5.1x
Mon, 15 Dec 2025₹17.7t₹3.4t₹566.2b22.2x31.3x5.2x
Wed, 12 Nov 2025₹17.5t₹3.4t₹570.1b24x30.8x5.2x
Fri, 10 Oct 2025₹16.9t₹3.3t₹544.4b23.5x31x5.2x
Sun, 07 Sep 2025₹16.4t₹3.3t₹542.7b26.8x30.2x5x
Tue, 05 Aug 2025₹16.7t₹3.1t₹518.7b26.5x32.1x5.3x
Thu, 03 Jul 2025₹17.8t₹3.1t₹508.0b30x35.1x5.7x
Sat, 31 May 2025₹16.5t₹3.1t₹508.4b28x32.4x5.3x
Mon, 28 Apr 2025₹15.9t₹3.0t₹417.1b27.3x38.2x5.3x
Wed, 26 Mar 2025₹15.2t₹3.1t₹416.8b25.5x36.5x5x
Fri, 21 Feb 2025₹14.7t₹3.1t₹416.8b28.2x35.2x4.8x
Sun, 19 Jan 2025₹14.9t₹3.0t₹245.1b37.6x60.9x5.1x
Tue, 17 Dec 2024₹15.7t₹3.1t₹258.8b33.8x60.9x5.2x
Thu, 14 Nov 2024₹14.6t₹3.1t₹283.4b31.3x51.5x4.8x
Sat, 12 Oct 2024₹15.9t₹3.0t₹251.4b36.1x63.4x5.3x
Mon, 09 Sep 2024₹14.9t₹3.0t₹256.9b36.7x57.9x4.9x
Wed, 07 Aug 2024₹14.0t₹3.0t₹252.0b38.2x55.6x4.6x
Fri, 05 Jul 2024₹13.8t₹3.0t₹218.5b36.6x63.2x4.6x
Sun, 02 Jun 2024₹12.9t₹3.0t₹240.9b33.7x53.5x4.3x
Tue, 30 Apr 2024₹12.6t₹2.9t₹238.0b33.4x53.1x4.3x
Thu, 28 Mar 2024₹11.2t₹2.8t₹234.2b31.7x47.8x3.9x
Sat, 24 Feb 2024₹10.7t₹2.8t₹233.9b41.9x45.7x3.8x
Mon, 22 Jan 2024₹10.6t₹2.8t₹198.0b39x53.6x3.8x
Wed, 20 Dec 2023₹9.6t₹2.8t₹203.7b32.3x47.2x3.5x
Fri, 17 Nov 2023₹9.1t₹2.8t₹203.1b32.1x44.8x3.3x
Sun, 15 Oct 2023₹9.1t₹2.7t₹181.2b34.8x50.3x3.4x
Tue, 12 Sep 2023₹8.8t₹2.7t₹181.1b35.1x48.5x3.2x
Thu, 10 Aug 2023₹8.5t₹2.7t₹182.4b34.2x46.4x3.1x
Sat, 08 Jul 2023₹8.1t₹2.6t₹196.7b31.9x41.3x3.1x
Mon, 05 Jun 2023₹7.7t₹2.6t₹205.1b33.8x37.6x3x
Wed, 03 May 2023₹7.3t₹2.6t₹157.6b33.6x46.5x2.8x
Fri, 31 Mar 2023₹6.9t₹2.6t₹164.0b30.5x42x2.7x
Sun, 26 Feb 2023₹7.1t₹2.6t₹163.6b30.4x43.4x2.8x
Tue, 24 Jan 2023₹7.4t₹2.5t₹230.2b32.3x32x2.9x
Price to Earnings Ratio

32x


Total Market Cap: ₹7.4tTotal Earnings: ₹230.2bTotal 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 32.6x 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 5.1x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 32% 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 Market0.022%
Telecom-0.84%
Interactive Media and Services0.67%
Telecom Services and Carriers0.60%
Entertainment-0.16%
Wireless Telecom-1.08%
Media-2.13%
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 40.2%, 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
NAUKRI Info Edge (India)₹1.33k0.7%
+₹5.7b		-14.2%PE65.3x
HFCL HFCL₹68.024.8%
+₹4.8b		-34.4%PE374x
530943 Sri Adhikari Brothers Television Network₹2.02k9.0%
+₹4.2b		196.6%PS622.5x
PFOCUS Prime Focus₹235.152.1%
+₹3.8b		85.6%PS4.6x
TATACOMM Tata Communications₹1.75k0.7%
+₹3.7b		3.3%PE34.9x

Latest News

NAUKRI
₹1,329.10
Info Edge (India)
7D
0.7%
1Y
-14.2%
532163
₹348.25
Saregama India
7D
-5.3%
1Y
-33.3%
NETWORK18
₹40.17
Network18 Media & Investments
7D
-4.0%
1Y
-28.8%
IDEA
₹10.82
Vodafone Idea
7D
-3.9%
1Y
18.8%

Vodafone Idea Limited's (NSE:IDEA) Intrinsic Value Is Potentially 97% Above Its Share Price

Jan 15
Vodafone Idea Limited's (NSE:IDEA) Intrinsic Value Is Potentially 97% Above Its Share Price
GTPL
₹81.70
GTPL Hathway
7D
-15.8%
1Y
-31.4%

GTPL Hathway's (NSE:GTPL) Returns On Capital Not Reflecting Well On The Business

Jan 14
GTPL Hathway's (NSE:GTPL) Returns On Capital Not Reflecting Well On The Business
TATACOMM
₹1,754.60
Tata Communications
7D
0.7%
1Y
3.3%
PVRINOX
₹1,029.00
PVR INOX
7D
2.5%
1Y
-6.6%

PVRINOX: Future Returns Will Rely On Improving Profitability And Lower Risk Profile

Analysts have made a marginal downward tweak to their fair value estimate for PVR INOX to ₹1,725.75 from ₹1,726.10, reflecting updated assumptions on revenue growth, profit margins and the discount rate, as well as a slightly lower future P/E multiple. Valuation Changes Fair Value: Trimmed slightly to ₹1,725.75 from ₹1,726.10, a marginal change in the model output.
RAILTEL
₹347.85
RailTel Corporation of India
7D
1.3%
1Y
-16.0%

RAILTEL: Long Dated IT Contracts Will Sustain Overvaluation Risk

Analysts have kept their price target on RailTel Corporation of India unchanged at ₹265, pointing to largely consistent expectations around fair value, discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Work order from Public Financial Management System for establishment and managed operations of IT infrastructure, including data center and SOC services, with an order size of ₹1,01,82,38,520 and an execution period up to January 7, 2031 (client announcement).
INDUSTOWER
₹433.85
Indus Towers
7D
0.1%
1Y
19.6%

INDUSTOWER: African Subsidiary Expansion Will Support Future Earnings Multiple Re-Rating

Analysts have lifted their fair value estimate for Indus Towers from ₹525 to ₹565, citing updated assumptions for the discount rate, revenue growth, profit margins, and future P/E that feed into their refreshed price target framework. What's in the News Indus Towers incorporated a wholly owned subsidiary, Indus Towers FZE, in the United Arab Emirates with share capital of 300 shares of AED 1,000 each to consider investments in African markets, starting with Nigeria, Uganda and Zambia (Key Developments).
530943
₹2,015.75
Sri Adhikari Brothers Television Network
7D
9.0%
1Y
196.6%
BHARTIHEXA
₹1,614.50
Bharti Hexacom
7D
-8.4%
1Y
21.9%
AFFLE
₹1,723.50
Affle 3i
7D
-3.4%
1Y
9.2%

AFFLE: Higher P/E Expectations Will Outpace Softening Profit Margins

Analysts have raised their fair value estimate for Affle 3i from ₹1,365.20 to ₹1,623.89, citing updated assumptions related to the discount rate, revenue growth, profit margins and future P/E expectations. What's in the News Affle 3i has scheduled a board meeting on November 1, 2025, to consider and approve its unaudited standalone and consolidated financial results.
532454
₹2,016.00
Bharti Airtel
7D
-0.6%
1Y
23.9%

532454: Network Expansion And API Monetisation Will Likely Support Balanced Outlook

Analysts have nudged their fair value estimate for Bharti Airtel slightly higher to ₹2,319.74 from ₹2,298.76, citing updated assumptions that combine a lower revenue growth outlook with a firmer profit margin and a broadly steady future P/E multiple. What's in the News Bharti Airtel launched "Airtel Cartoon Network Classics" on Airtel Digital TV in partnership with Warner Bros.
SUNTV
₹548.05
Sun TV Network
7D
-1.6%
1Y
-15.6%

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
HFCL
₹68.02
HFCL
7D
4.8%
1Y
-34.4%
PFOCUS
₹235.15
Prime Focus
7D
2.1%
1Y
85.6%

Revenues Not Telling The Story For Prime Focus Limited (NSE:PFOCUS) After Shares Rise 27%

Dec 19
Revenues Not Telling The Story For Prime Focus Limited (NSE:PFOCUS) After Shares Rise 27%