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Indian (NIFTY) Telecom Sector Analysis

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies139
  • 7D2.4%
  • 3M-7.4%
  • 1Y1.8%
  • YTD-10.9%

Tata Communications is up 6.3%, leading the way for the Telecom industry, which has gained 2.4%. The industry has been flat over the past 12 months despite the gain this week. As for the next few years, earnings are expected to grow by 22% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Apr 2026₹16.3t₹3.5t₹491.3b21.4x33.2x4.6x
Sat, 14 Mar 2026₹15.6t₹3.5t₹491.9b19.5x31.7x4.4x
Mon, 09 Feb 2026₹17.4t₹3.5t₹490.2b21x35.5x5x
Wed, 07 Jan 2026₹18.1t₹3.4t₹566.3b22x31.9x5.3x
Fri, 05 Dec 2025₹17.9t₹3.4t₹566.3b20.4x31.6x5.3x
Sun, 02 Nov 2025₹17.7t₹3.3t₹542.9b24.6x32.6x5.4x
Tue, 30 Sep 2025₹16.5t₹3.3t₹544.2b23.8x30.3x5.1x
Thu, 28 Aug 2025₹16.5t₹3.3t₹542.0b25.9x30.5x5.1x
Sat, 26 Jul 2025₹17.0t₹3.1t₹522.0b28.6x32.5x5.4x
Mon, 23 Jun 2025₹17.0t₹3.1t₹507.9b28.7x33.6x5.5x
Wed, 21 May 2025₹16.1t₹3.1t₹511.2b28x31.4x5.2x
Fri, 18 Apr 2025₹16.3t₹3.0t₹410.6b28.1x39.8x5.4x
Sun, 16 Mar 2025₹14.3t₹3.1t₹416.8b25.3x34.3x4.7x
Tue, 11 Feb 2025₹15.2t₹3.0t₹394.7b32.7x38.4x5x
Thu, 09 Jan 2025₹15.0t₹3.1t₹257.1b36.1x58.3x4.9x
Sat, 07 Dec 2024₹15.4t₹3.1t₹261.6b33.6x58.7x5x
Mon, 04 Nov 2024₹15.2t₹3.0t₹286.0b33.7x53.1x5x
Wed, 02 Oct 2024₹16.1t₹3.0t₹251.5b37.4x64x5.4x
Fri, 30 Aug 2024₹15.2t₹3.0t₹257.2b36.9x59x5x
Sun, 28 Jul 2024₹14.7t₹3.0t₹216.8b37.9x67.7x4.9x
Tue, 25 Jun 2024₹13.7t₹3.0t₹218.6b36.2x62.8x4.6x
Thu, 23 May 2024₹12.8t₹3.0t₹238.1b35.9x53.7x4.3x
Sat, 20 Apr 2024₹12.2t₹3.0t₹238.3b32.5x51.2x4.1x
Mon, 18 Mar 2024₹11.0t₹2.8t₹234.2b31.7x47x3.9x
Wed, 14 Feb 2024₹10.4t₹2.8t₹230.6b42.2x44.9x3.6x
Fri, 12 Jan 2024₹10.2t₹2.8t₹203.6b38.6x50.3x3.7x
Sun, 10 Dec 2023₹9.5t₹2.8t₹203.6b34.7x46.7x3.4x
Tue, 07 Nov 2023₹9.0t₹2.8t₹199.7b36x44.9x3.3x
Thu, 05 Oct 2023₹8.9t₹2.7t₹181.1b34x49.3x3.3x
Sat, 02 Sep 2023₹8.5t₹2.7t₹180.8b33.6x47.1x3.1x
Mon, 31 Jul 2023₹8.5t₹2.7t₹206.1b35.4x41.1x3.2x
Wed, 28 Jun 2023₹8.0t₹2.6t₹196.7b30x40.8x3.1x
Fri, 26 May 2023₹7.3t₹2.6t₹184.1b31.3x39.7x2.8x
Sun, 23 Apr 2023₹7.0t₹2.6t₹161.9b32.9x43.5x2.7x
Price to Earnings Ratio

43.5x


Total Market Cap: ₹7.0tTotal Earnings: ₹161.9bTotal Revenue: ₹2.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Telecom Sector Price to Earnings3Y Average 44.5x202420252026
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 33.3x which is lower than its 3-year average PE of 44.5x.
  • 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 45% 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 Market4.48%
Telecom2.42%
Telecom Services and Carriers5.72%
Media5.12%
Wireless Telecom1.92%
Entertainment1.69%
Interactive Media and Services0.35%
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 41.1%, 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 31.8x.
Forecasted Growth
  • Analysts are most optimistic on the Entertainment industry, expecting annual earnings growth of 41% 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 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
TATACOMM Tata Communications₹1.56k6.3%
+₹26.5b		-2.0%PE28.9x
IDEA Vodafone Idea₹9.442.6%
+₹26.0b		29.8%PS2.3x
HFCL HFCL₹88.1217.2%
+₹19.8b		7.0%PE260.3x
RAILTEL RailTel Corporation of India₹336.7318.3%
+₹16.7b		8.8%PE34x
SUNTV Sun TV Network₹620.553.3%
+₹7.8b		-9.1%PE15.5x

Latest News

RAILTEL
₹336.73
RailTel Corporation of India
7D
18.3%
1Y
8.8%
JUSTDIAL
₹543.90
Just Dial
7D
-3.9%
1Y
-40.7%
NAUKRI
₹1,028.05
Info Edge (India)
7D
-0.5%
1Y
-24.1%

NAUKRI: Upcoming Board Investments And Subsidiary Transfers Will Support Future Upside Potential

Analysts have slightly reduced their price target on Info Edge (India) to ₹1,415.95 from about ₹1,435.24. The adjustment reflects updated views on the discount rate, revenue growth, profit margin and future P/E assumptions, rather than a major shift in outlook.
TATACOMM
₹1,561.50
Tata Communications
7D
6.3%
1Y
-2.0%
NETWORK18
₹34.98
Network18 Media & Investments
7D
8.9%
1Y
-22.5%
PVRINOX
₹942.90
PVR INOX
7D
-1.3%
1Y
-1.0%

PVRINOX: Future Governance Decisions Will Support Higher Earnings Multiple And Upside Potential

Analysts have lifted their price target on PVR INOX from ₹1,026 to ₹1,065, citing updated assumptions around fair value, discount rate, revenue growth, profit margins and a higher potential future P/E multiple. What's in the News Special or extraordinary shareholders meeting via postal ballot on Apr 25, 2026, with details to be confirmed closer to the date (company event notice).
INDUSTOWER
₹420.25
Indus Towers
7D
-4.7%
1Y
8.8%

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).
IDEA
₹9.44
Vodafone Idea
7D
2.6%
1Y
29.8%

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
₹2,333.75
City Pulse Multiventures
7D
-2.7%
1Y
99.0%
532454
₹1,855.55
Bharti Airtel
7D
-0.3%
1Y
1.8%

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).
VERTOZ
₹49.16
Vertoz
7D
22.5%
1Y
-40.0%
DBCORP
₹207.73
D. B
7D
-2.1%
1Y
-14.5%
532371
₹43.15
Tata Teleservices (Maharashtra)
7D
6.0%
1Y
-28.4%
SUNTV
₹620.55
Sun TV Network
7D
3.3%
1Y
-9.1%
SARTELE
₹165.50
SAR Televenture
7D
-3.6%
1Y
-42.7%
HFCL
₹88.12
HFCL
7D
17.2%
1Y
7.0%