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Indian (NIFTY) Telecom Sector Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies132
  • 7D1.3%
  • 3M7.3%
  • 1Y19.7%
  • YTD18.9%

Vodafone Idea is up 8.0%, leading the way for the Telecom industry, which has gained 1.1%. This means that the industry has gained 19% over the past year. Looking forward, earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025₹18.2t₹3.4t₹566.2b20.9x32.1x5.3x
Sat, 22 Nov 2025₹18.2t₹3.4t₹566.4b23.7x32.2x5.4x
Mon, 20 Oct 2025₹17.3t₹3.3t₹543.2b24.5x31.9x5.3x
Wed, 17 Sep 2025₹16.8t₹3.3t₹542.7b25.8x31x5.1x
Fri, 15 Aug 2025₹16.3t₹3.3t₹538.9b27.9x30.2x5x
Sun, 13 Jul 2025₹16.9t₹3.1t₹508.6b29.4x33.2x5.4x
Tue, 10 Jun 2025₹16.7t₹3.1t₹507.2b29.6x32.9x5.4x
Thu, 08 May 2025₹16.4t₹3.0t₹416.4b26.7x39.4x5.5x
Sat, 05 Apr 2025₹15.2t₹3.0t₹410.6b27.5x37x5.1x
Mon, 03 Mar 2025₹13.9t₹3.1t₹416.8b25.6x33.3x4.5x
Wed, 29 Jan 2025₹14.6t₹3.0t₹270.8b33.5x53.7x4.9x
Fri, 27 Dec 2024₹15.1t₹3.1t₹257.1b35.2x58.8x5x
Sun, 24 Nov 2024₹14.8t₹3.1t₹263.4b31.2x56.2x4.8x
Tue, 22 Oct 2024₹15.8t₹3.0t₹248.9b35.5x63.5x5.3x
Thu, 19 Sep 2024₹15.8t₹3.0t₹257.2b36.4x61.3x5.2x
Sat, 17 Aug 2024₹14.4t₹3.0t₹256.9b36.3x56.2x4.8x
Mon, 15 Jul 2024₹13.9t₹3.0t₹218.3b36.1x63.7x4.7x
Wed, 12 Jun 2024₹13.4t₹3.0t₹217.3b34.8x61.8x4.5x
Fri, 10 May 2024₹12.1t₹3.0t₹241.6b33.9x50.1x4.1x
Sun, 07 Apr 2024₹11.3t₹2.8t₹234.2b32.7x48.1x4x
Tue, 05 Mar 2024₹10.8t₹2.8t₹233.9b37.4x46x3.8x
Thu, 01 Feb 2024₹10.8t₹2.8t₹221.5b41.9x48.9x3.8x
Sat, 30 Dec 2023₹9.9t₹2.8t₹203.7b37x48.6x3.6x
Mon, 27 Nov 2023₹9.3t₹2.8t₹203.6b31.2x45.4x3.4x
Wed, 25 Oct 2023₹8.8t₹2.7t₹180.3b34.3x48.9x3.2x
Fri, 22 Sep 2023₹8.8t₹2.7t₹181.1b33.4x48.8x3.3x
Sun, 20 Aug 2023₹8.2t₹2.7t₹180.8b32.5x45.6x3x
Tue, 18 Jul 2023₹8.3t₹2.6t₹196.6b34.2x42.3x3.2x
Thu, 15 Jun 2023₹7.8t₹2.6t₹196.5b32.2x39.8x3x
Sat, 13 May 2023₹7.3t₹2.6t₹157.6b35.2x46.2x2.8x
Mon, 10 Apr 2023₹7.1t₹2.6t₹164.0b32.3x43.3x2.8x
Wed, 08 Mar 2023₹7.2t₹2.6t₹163.6b32x43.8x2.8x
Fri, 03 Feb 2023₹7.2t₹2.5t₹207.0b32.3x34.8x2.9x
Sun, 01 Jan 2023₹7.7t₹2.5t₹232.1b30.3x33x3.1x
Price to Earnings Ratio

33x


Total Market Cap: ₹7.7tTotal Earnings: ₹232.1bTotal Revenue: ₹2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Telecom Sector Price to Earnings3Y Average 45.2x202320242025
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 32.0x 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 5.3x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have grown 35% 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 Market1.60%
Telecom1.27%
Entertainment3.74%
Media2.85%
Interactive Media and Services2.22%
Telecom Services and Carriers2.06%
Wireless Telecom0.87%
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 41.0%, which is higher than its past year's earnings growth of 7.5% per year.
  • Investors are most pessimistic about the Telecom Services and Carriers industry, which is trading below its 3-year average of 19.6x.
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 7.5% 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
IDEA Vodafone Idea₹12.028.0%
+₹96.4b		61.1%PS2.9x
532454 Bharti Airtel₹2.12k0.7%
+₹92.0b		34.1%PE33.6x
INDUSTOWER Indus Towers₹423.904.1%
+₹44.0b		27.1%PE11.9x
PFOCUS Prime Focus₹241.3817.6%
+₹28.0b		78.8%PS4.7x
BHARTIHEXA Bharti Hexacom₹1.82k3.1%
+₹27.3b		21.8%PE58.9x

Latest News

AFFLE
₹1,780.60
Affle 3i
7D
6.2%
1Y
0.08%

AFFLE: Upcoming Q2 Results Will Confirm Bullish Long Term Outlook

Analysts have modestly revised their price target on Affle 3i to ₹2,036.67 per share, reflecting largely unchanged fundamental assumptions with only marginal tweaks to long term revenue growth and profitability expectations. What's in the News Board meeting scheduled on November 01, 2025, to consider and approve unaudited standalone and consolidated financial results for the second quarter and half year ended September 30, 2025 (company filing) Valuation Changes Consensus Analyst Price Target remains unchanged at ₹2,036.67 per share, indicating no material shift in overall valuation.
PVRINOX
₹1,024.30
PVR INOX
7D
-3.9%
1Y
-25.4%

PVR INOX Limited (NSE:PVRINOX) Might Not Be As Mispriced As It Looks

Dec 24
PVR INOX Limited (NSE:PVRINOX) Might Not Be As Mispriced As It Looks
TATACOMM
₹1,771.40
Tata Communications
7D
-3.1%
1Y
2.9%

Calculating The Intrinsic Value Of Tata Communications Limited (NSE:TATACOMM)

Dec 21
Calculating The Intrinsic Value Of Tata Communications Limited (NSE:TATACOMM)
532454
₹2,123.75
Bharti Airtel
7D
0.7%
1Y
34.1%
IDEA
₹12.02
Vodafone Idea
7D
8.0%
1Y
61.1%

IDEA: Future Returns Will Stay Limited By Government Liability Overhang

Narrative Update on Analyst Price Target Analysts have made a modest upward revision to their price target on Vodafone Idea, citing slightly lower discount rates, marginally improved long term profit margin expectations, and a marginally cheaper projected future P E multiple that together enhance the stock's risk reward profile. This nudges fair value closer to ₹8.90 per share.
PFOCUS
₹241.38
Prime Focus
7D
17.6%
1Y
78.8%

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%
BHARTIHEXA
₹1,816.50
Bharti Hexacom
7D
3.1%
1Y
21.8%

BHARTIHEXA: Expanding Profit Margins Will Likely Fail To Justify Rich Pricing

Analysts have raised their price target for Bharti Hexacom by approximately ₹70, citing expectations of stronger revenue growth, expanding profit margins, and a slightly lower future price to earnings multiple that together support a higher fair value estimate. What's in the News Board meeting scheduled on October 31, 2025, to review and approve audited financial results for Q2 and the half year ended September 30, 2025 (company filing) Additional board meeting slated for November 3, 2025, to consider and record audited financial results for Q2 and the half year ended September 30, 2025, indicating flexibility in finalizing the accounts timetable (company filing) Valuation Changes The Fair Value Estimate has risen moderately from ₹1,386.26 to ₹1,453.60, reflecting a higher intrinsic value assessment.
ZEEL
₹91.81
Zee Entertainment Enterprises
7D
-0.8%
1Y
-27.2%

ZEEL: Board Leadership Shift Will Support Stronger Long Term Earnings Outlook

Analysts have nudged their fair value estimate for Zee Entertainment Enterprises slightly higher to approximately ₹138 per share from about ₹136, citing marginally improved assumptions on long term revenue growth, sustainable profit margins, and a modestly richer forward earnings multiple. What's in the News Zee Entertainment has scheduled a special shareholders meeting via postal ballot in India on November 28, 2025, to seek approval for appointing R.
TIPSMUSIC
₹525.35
Tips Music
7D
-4.3%
1Y
-34.6%

TIPSMUSIC Stronger Margins And Upcoming Dividend Are Expected To Drive Upside

Analysts have raised their fair value estimate for Tips Music from ₹612.00 to ₹671.00, citing expectations of stronger long term profitability and slightly lower perceived risk, despite modestly softer revenue growth assumptions. What's in the News Board meeting scheduled for October 15, 2025, to review and approve unaudited financial results for the quarter and half year ended September 30, 2025 (company filing).
NAUKRI
₹1,366.80
Info Edge (India)
7D
2.1%
1Y
-21.2%

NAUKRI: Upcoming Subsidiary Investments And Interim Dividend Will Support Bullish Outlook

Narrative Update on Info Edge (India) Analysts have marginally raised their fair value estimate for Info Edge (India) to approximately ₹1,554 from about ₹1,552, reflecting slightly lower discount rate assumptions, modestly softer long term revenue growth, and a small improvement in expected profit margins and future valuation multiples. What's in the News The board has approved a potential investment in Startup Internet Services Ltd and an agreement to transfer its entire stake in Shopkirana E Trading Private Limited to Hiveloop E Commerce Private Limited.
SUNTV
₹576.00
Sun TV Network
7D
4.4%
1Y
-16.8%

Is Sun TV Network (NSE:SUNTV) A Risky Investment?

Dec 13
Is Sun TV Network (NSE:SUNTV) A Risky Investment?
INDUSTOWER
₹423.90
Indus Towers
7D
4.1%
1Y
27.1%

INDUSTOWER: Future Overseas Expansion And Stable Margins Will Guide Measured Outlook

Narrative Update on Indus Towers Analysts have modestly increased their price target for Indus Towers to Rs 422.91, reflecting slightly higher projected profit margins and a marginal uptick in long term earnings expectations, despite a small rise in the assumed discount rate. What's in the News Board approves incorporation of a wholly owned subsidiary in the United Arab Emirates to explore telecom infrastructure investments in African markets, initially targeting Nigeria, Uganda and Zambia (company filing) Indus Towers plans an initial investment of up to INR 200 million in the proposed UAE subsidiary, to be made in one or more tranches via cash consideration, with 100 percent shareholding retained (company filing) Board meeting scheduled for October 10, 2025, to formally consider incorporation of the UAE subsidiary and related strategic matters (company notice) Board meeting set for October 27, 2025, to review and approve audited standalone and consolidated financial results for Q2 and the half year ended September 30, 2025 (company notice) Special shareholders meeting to be conducted via postal ballot on November 16, 2025, to vote on the reappointment of Mr. Sharad Bhansali as an independent director (company notice) Valuation Changes Fair Value: Unchanged at ₹422.91 per share, indicating no revision to the intrinsic value estimate.
532368
₹10.50
Brightcom Group
7D
-2.9%
1Y
6.8%
532011
₹66.40
Vashu Bhagnani Industries
7D
-15.5%
1Y
-50.9%
530943
₹1,588.10
Sri Adhikari Brothers Television Network
7D
-4.5%
1Y
-11.6%
532163
₹350.25
Saregama India
7D
-1.3%
1Y
-26.4%