Telecommunication sector stocks in India
43 listed companies in Telecommunication, largest first by market cap at the close on 28 Oct 2026; the largest is Jio Platforms.
- CompaniesListed companies. Companies classified in Telecommunication whose shares traded on the latest trading day.
- 43
- Market capMarket cap, added up. The market value of the 35 companies that filed the quarter to Jun 2026, added up: each company's share price today times its shares. Share price times the number of shares: what the whole company is worth at the day's price.
- ₹17,07,607 Cr
- Median P/EMedian price to earnings. The middle price-to-earnings among the 21 companies that filed the quarter to Jun 2026 that carry one, half above and half below: each company's market value today divided by its own last four quarters' profit.
- 27.1
- Median P/BMedian price to book. The middle price-to-book among the 24 companies that filed the quarter to Jun 2026 that carry one, half above and half below. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet.
- 3.1
- Revenue growthRevenue growth, against a year earlier. Revenue of the quarter to Jun 2026 against the same quarter a year earlier, added up over the 30 companies that filed both.
- +16.9%quarter to Jun 2026
- ProfitProfit after tax, added up. Profit after tax of the quarter to Jun 2026, added up over the 35 companies that filed it; a loss counts as negative.
- ₹4,401 Crquarter to Jun 2026
- Filed the quarterCompanies that filed the quarter. How many of the sector's 42 listed companies have filed results for the quarter to Jun 2026; the revenue growth and the profit are theirs.
- 35of 42
- Median ROCEMedian return on capital employed. The middle figure of the 36 companies' ROCE for the year to Mar 2026, half above and half below. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them.
- 7.1%year to Mar 2026
Revenue growth and profit by quarter
Revenue against the same quarter a year earlier, over the companies that filed both; profit after tax added up over the companies that filed the quarter. A quarter fewer than 60% of the sector filed is left out, and the newest is added once nearly as many companies have filed it as the one before.
Revenue against the same quarter a year earlier, per cent
Profit after tax, ₹ crore, added up over the companies that filed
- Profit
- Loss
The largest companies
The 12 largest Telecommunication companies, each sized by its market cap.
Market cap, ₹ crore
- Jio Platforms₹13,05,380 Cr
- Bharti Airtel₹12,15,839 Cr
- Vodafone Idea₹1,28,495 Cr
- Indus Towers₹98,403 Cr
- Bharti Hexacom₹83,270 Cr
- Tata Communications₹47,923 Cr
- Sterlite Technologies₹45,206 Cr
- HFCL₹37,165 Cr
- ITI₹21,272 Cr
- Tata Teleservices (Maharashtra)₹7,669 Cr
- Railtel Corporation of India₹7,359 Cr
- Tejas Networks₹7,346 Cr
Every Telecommunication company
- 7
Sterlite TechnologiesSTLTECH · Telecom - Equipment & Accessories₹879.40−3.46%₹45,206 Cr59.8021.5%None+653.9% - 11
Railtel Corporation of IndiaRAILTEL · Telecom - Services₹229.30−0.28%₹7,359 Cr21.7020.0%1.42%−37.4% - 13
Optiemus InfracomOPTIEMUS · Telecom - Equipment & Accessories₹735.60+0.20%₹6,633 Cr91.306.7%None+23.1% - 18
Valiant CommunicationsVALIANT · Telecom - Equipment & Accessories₹1,637.60+2.41%₹1,915 Cr70.3032.2%0.09%+114.1% - 22
ADC India CommunicationsADCINDIA · Telecom - Equipment & Accessories₹2,133.25+5.92%₹981 Cr43.5029.0%1.17%+41.8% - 23
Birla CableBIRLACABLE · Telecom - Equipment & Accessories₹326.45+4.98%₹979 Cr21.2016.8%0.38%+108.6% - 34
Punjab CommunicationsPUNJCOMMU · Telecom - Equipment & Accessories₹48.40+3.73%₹58 Cr10.60−14.0%None−19.3% - 37
Tamilnadu TelecommunicationTNTELE · Telecom - Equipment & Accessories₹8.86−2.85%₹40 Cr––None−30.7%
About telecommunication sector stocks in India
Telecommunication sector stocks in India are the listed companies that sell mobile, fixed-line and broadband services, own towers and other network infrastructure, or make telecom equipment and cables. NSE's industry classification groups them in the Telecommunication sector, and this page ranks them by market cap.
What the sector covers
The sector has two industries, and an industry filter narrows the table to either. Telecom - Services covers mobile and fixed-line operators, broadband and other service providers, and infrastructure companies such as tower owners. Telecom - Equipment & Accessories covers makers and distributors of telecom equipment, cables and accessories.
How operators earn
A mobile operator charges subscribers a recurring fee for a plan, so revenue follows the number of subscribers and the average revenue per user, usually shortened to ARPU. The costs are largely fixed: spectrum, which is the radio frequency band a government assigns for carrying signals, towers, fibre and licence fees. More traffic over the same network therefore raises profit faster than revenue, and a price cut does the reverse.
Tower companies rent space on their towers to operators under long contracts, so their revenue follows the number of operators sharing each tower. Equipment makers sell to the operators, and their orders follow how much the operators spend on rolling out networks, such as 5G, and on fibre.
Rules that shape the sector
The Telecommunications Act, 2023 replaced the Indian Telegraph Act, 1885 and the Wireless Telegraphy Act, 1933. Rules under it notified in Jun 2026 replace licences with authorisations; existing licence holders can move to the new regime or keep their licences until they expire. Spectrum is assigned separately, mostly by auction.
Adjusted gross revenue (AGR) is the revenue on which operators pay licence fees and spectrum usage charges. A Supreme Court judgment of 24 Oct 2019 held that AGR includes non-telecom income, which left large dues for several operators and still affects the balance sheets of some. TRAI, the telecom regulator, publishes subscriber counts every month.