Telecom stocks today Shares of telecom services providers rallied up to 6 per cent on the BSE in Wednesday's intra-day trade amid heavy volumes. Share price of Vodafone Idea hit a two-month high of ₹10.55, as the stock surged 6 per cent in intra-day trade. In the past three trading days, the stock soared 11 per cent. It now quotes at its highest level since February 27, 2026. Till 10:26 AM; a combined 341.56 million equity shares changed hands on the NSE and BSE. Share price of Bharti Airtel gained 3 per cent to ₹1,892.75 in intra-day deals. The stock has recovered 8 per cent from its 52-week low of ₹1,747.15 touched on April 2, 2026. It had hit a 52-week high of ₹2,174.10 on November 21, 2025. Meanwhile, shares of Reliance Industries were up 3 per cent at ₹1,427.40, surging 7.5 per cent in the past three trading days. READ LATEST STOCK MARKET UPDATES LIVE Why are telecom stocks in focus? According to per media reports, Google has commenced a ~$15 billion investment to build a Google Cloud India AI Hub in Visakhapatnam, aimed at creating a gigawatt-scale AI and data infrastructure ecosystem over 2026-2030. The project includes subsea cable connectivity, fibre expansion, and clean energy integration, positioning the region as an emerging "AI-patnam." With strong participation from partners like Adani and Airtel, the initiative is expected to boost India's digital backbone and generate ~200,000 jobs while strengthening global connectivity and AI-led industrial growth. Jio Platforms IPO Jio Platforms Ltd (JPL), the parent company of Reliance Jio, India's largest telecom services provider, is moving "steadily" towards a public listing, said Mukesh Ambani, chairman and managing director of Reliance Industries, on Friday after the group announced its fourth-quarter and full-year FY26 results. Meanwhile, Jio's ARPU growth has stalled (₹214, flat qoq) as tariff benefits have fully played out which necessitates tariff hikes, with growth led by subscriber additions (+9 million qoq to 524 million) leading to margin expansion (52 per cent), analysts at Equirus Securities said in the Q4 result update. Jio remains the key anchor, delivering 11 per cent EBITDA CAGR over FY26-28E, supported by ARPU expansion (₹197 ₹225) and margin improvement (50 per cent 53 per cent), even as subscriber additions normalise, the brokerage firm said. Vodafone Idea - ICRA's rating rationale The government of India's (GoI's) relief on adjusted gross revenue (AGR) dues, which materially eases Vodafone Idea's payment obligations and improves the cash flow visibility, according to the rating agency ICRA. AGR freeze and the earlier equity conversion earlier by the Government substantiate the telecom sector's importance for the GoI and its intention to maintain a three-private player market. While Vodafone Idea's blended ARPU remains the lowest among the private operators, it has been increasing gradually, rising to ₹172 in Q3FY2026 from ₹163 in Q3FY2025 following the tariff hikes undertaken by all the telcos in July 2024. Additionally the ARPU increase is also attributable to organic upgradation of subscribers done by the company. The Indian telecom sector is likely to witness another round of tariff hike in FY2027, which, along with an expansion of the subscriber base on the back of network improvement undertaken by Vodafone Idea, is expected to boost the profitability and cash generation, ICRA said in the March 2026 rating rationale. Telecom sector outlook Telecom players, i.e., Bharti Airtel and Reliance Jio, continue to gain market share, supported by higher customer stickiness, improving financial performance, and favourable market conditions. Analysts at Axis Securities believe this momentum is likely to continue, driven by the 5G rollout, tariff hikes, strategic alliances, and robust cash flows. While competitive intensity has moderated due to market consolidation, challenges such as high debt levels for weaker players and regulatory obligations persist. Overall, the medium-term outlook remains positive, the brokerage firm said. ===================================== Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.

Telecom stocks Bharti Airtel, Vodafone Idea gain up to 6% on huge volumes

Telecom players continue to gain market share, supported by higher customer stickiness, improving financial performance, and favourable market conditions.

Telecom stocks rallied up to 6% in Wednesday's trading session.

Deepak Korgaonkar Mumbai

Listen to This Article

Telecom stocks today

Shares of telecom services providers rallied up to 6 per cent on the BSE in Wednesday’s intra-day trade amid heavy volumes.

Share price of Vodafone Idea hit a two-month high of ₹10.55, as the stock surged 6 per cent in intra-day trade. In the past three trading days, the stock soared 11 per cent. It now quotes at its highest level since February 27, 2026. Till 10:26 AM; a combined 341.56 million equity shares changed hands on the NSE and BSE.

Share price of Bharti Airtel gained 3 per cent to ₹1,892.75 in intra-day deals. The stock has recovered 8 per cent from its 52-week low of ₹1,747.15 touched on April 2, 2026. It had hit a 52-week high of ₹2,174.10 on November 21, 2025.

Meanwhile, shares of Reliance Industries were up 3 per cent at ₹1,427.40, surging 7.5 per cent in the past three trading days. READ LATEST STOCK MARKET UPDATES LIVE

Why are telecom stocks in focus?

According to per media reports, Google has commenced a ~$15 billion investment to build a Google Cloud India AI Hub in Visakhapatnam, aimed at creating a gigawatt-scale AI and data infrastructure ecosystem over 2026–2030.

The project includes subsea cable connectivity, fibre expansion, and clean energy integration, positioning the region as an emerging “AI-patnam.” With strong participation from partners like Adani and Airtel, the initiative is expected to boost India’s digital backbone and generate ~200,000 jobs while strengthening global connectivity and AI-led industrial growth.

Jio Platforms IPO

Jio Platforms Ltd (JPL), the parent company of Reliance Jio, India’s largest telecom services provider, is moving “steadily” towards a public listing, said Mukesh Ambani, chairman and managing director of Reliance Industries, on Friday after the group announced its fourth-quarter and full-year FY26 results.

Meanwhile, Jio’s ARPU growth has stalled (₹214, flat qoq) as tariff benefits have fully played out which necessitates tariff hikes, with growth led by subscriber additions (+9 million qoq to 524 million) leading to margin expansion (52 per cent), analysts at Equirus Securities said in the Q4 result update.

Jio remains the key anchor, delivering 11 per cent EBITDA CAGR over FY26-28E, supported by ARPU expansion (₹197 → ₹225) and margin improvement (50 per cent → 53 per cent), even as subscriber additions normalise, the brokerage firm said.

Vodafone Idea – ICRA’s rating rationale

The government of India’s (GoI’s) relief on adjusted gross revenue (AGR) dues, which materially eases Vodafone Idea’s payment obligations and improves the cash flow visibility, according to the rating agency ICRA.

AGR freeze and the earlier equity conversion earlier by the Government substantiate the telecom sector’s importance for the GoI and its intention to maintain a three-private player market.

While Vodafone Idea’s blended ARPU remains the lowest among the private operators, it has been increasing gradually, rising to ₹172 in Q3FY2026 from ₹163 in Q3FY2025 following the tariff hikes undertaken by all the telcos in July 2024. Additionally the ARPU increase is also attributable to organic upgradation of subscribers done by the company. The Indian telecom sector is likely to witness another round of tariff hike in FY2027, which, along with an expansion of the subscriber base on the back of network improvement undertaken by Vodafone Idea, is expected to boost the profitability and cash generation, ICRA said in the March 2026 rating rationale.

Telecom sector outlook

Telecom players, i.e., Bharti Airtel and Reliance Jio, continue to gain market share, supported by higher customer stickiness, improving financial performance, and favourable market conditions. Analysts at Axis Securities believe this momentum is likely to continue, driven by the 5G rollout, tariff hikes, strategic alliances, and robust cash flows. While competitive intensity has moderated due to market consolidation, challenges such as high debt levels for weaker players and regulatory obligations persist. Overall, the medium-term outlook remains positive, the brokerage firm said. ===================================== Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 29 2026 | 11:08 AM IST