{"id":45935,"date":"2024-09-27T16:42:56","date_gmt":"2024-09-27T11:12:56","guid":{"rendered":"https:\/\/www.equentis.com\/blog\/?p=45935"},"modified":"2025-11-07T13:38:44","modified_gmt":"2025-11-07T08:08:44","slug":"top-10-communications-stocks-in-india","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/top-10-communications-stocks-in-india\/","title":{"rendered":"Top 10 Communications Stocks in India"},"content":{"rendered":"
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The communication sector is vital to India’s growth, as the country is the second largest telecom market globally. In fact, as of 30 June 2024, its subscriber base stood at 1.096 billion suscribers, both wireline and wireless. With a current valuation of around \u20b93 trillion<\/a>, it presents significant investment opportunities.The industry is all set for further development, driven by increasing demand for digital services, 5G adoption, and expanding network infrastructure. <\/p>\n\n\n\n

The government’s focus on cutting-edge technologies like satellite communication is further driving the sector’s advancement, with an expected growth at a CAGR of approximately 7-9%<\/a> by FY24.<\/strong> These factors are bringing communications sector stocks<\/a> in the spotlight. In this post, we’ll explore the benefits of these stocks and India’s top 10 names in the sector in the stock market<\/a>.<\/p>\n\n\n\n

Bharti Airtel Ltd<\/strong><\/h2>\n\n\n\n
Market Cap\u20b99,22,859 C<\/td>CMP \u20b9 1,543<\/td>All-time High\u20b9 1,617 <\/td>PE Ratio77.3<\/td>1 yr CAGR<\/a> Stock Price<\/a>
74%<\/td>		ROCE 13.1%<\/td><\/tr><\/tbody><\/table>
Data sourced from Screener.in, as of 10 Sep 2024<\/em><\/figcaption><\/figure>\n\n\n\n

Bharti Airtel is a prominent name in communications sector stocks globally. Headquartered in New Delhi, it has a network spanning the USA, Europe, Africa, the Middle East, Asia-Pacific, India, and SAARC regions, they are considered a premier provider of ICT services. The company is one of the top 3 mobile service providers worldwide in terms of subscribers. Our diverse product portfolio, strategically located submarine cables, and satellite network, extending across 365,000+ RKMs in 50 countries<\/a> and 5 continents, enable us to deliver cutting-edge digital services.<\/p>\n\n\n\n

In Q1FY25, Bharti Airtel has posted consolidated quarterly revenues of \u20b9 38,506 crore<\/a>, which was up 2.8% YoY and 2.4% QoQ. The company\u2019s EBITDA during the same period stands \u20b919,944 Crore, compared to \u20b919,746 crore in Q1FY24<\/a>. <\/p>\n\n\n\n

Vodafone Idea Ltd<\/strong><\/h2>\n\n\n\n
Market Cap
\u20b9 91,840 Cr.<\/td>		CMP 
\u20b9 13.5<\/td>		All-time High
\u20b9 19.2 <\/td>		PE Ratio
–<\/td>		1 yr CAGR Stock Price

20%<\/td>		ROCE<\/a> (FY23)


3.61 %<\/td><\/tr><\/tbody><\/table>
Data sourced from Screener.in, as of 10 Sep 2024<\/em><\/figcaption><\/figure>\n\n\n\n

Vodafone Idea Limited<\/a> is an Aditya Birla and the Vodafone Group joint venture. Operating across 22 service areas in India, the leading name in communications sector stocks provides voice and data services on 2G, 3G, and 4G technologies. In July 2022, Vodafone Idea acquired 5G spectrum in Mid band (3300 MHz) and mmWave (26 GHz) and is actively working towards launching 5G services. Its subscriber base increased to 126.7 million <\/a>in Q1FY25 from 122.9 million in Q1FY24<\/p>\n\n\n\n

The company expects about 15% increase in their data capacity<\/a>, and an increase in 4G population coverage by ~16 million by end Sep 24. Its revenue from Operations in Q4FY24 was \u20b910,606 crores <\/a> while it was \u20b910,508 crores in Q1FY25. The EBITDA in Q4FY24 stood at \u20b94,335.8 crores and \u20b94,204.7 crores in Q1FY25. Further, its quarterly EBITDA grew by 4.2% on YoY basis.<\/p>\n\n\n\n

Tata Communications Ltd<\/strong><\/h2>\n\n\n\n
Market Cap\u20b956,972 Cr<\/td>CMP  \u20b91997.30<\/td>All-time High\u20b9 2,085<\/td>PE Ratio
69.2<\/td>		1 yr CAGR Stock Price
3%<\/td>		ROCE (FY23)
17.6 %<\/td><\/tr><\/tbody><\/table>
Data sourced from Screener.in, as of 10 Sep 2024<\/em><\/figcaption><\/figure>\n\n\n\n

A leading digital ecosystem enabler, Tata Communications empowers businesses worldwide to achieve digital transformation. Focusing on borderless growth, innovation, and efficiency, Tata Communications offers solutions that connect enterprises to 80% of the world’s cloud giants<\/a> and 4 out of 5 mobile subscribers. Leveraging its global<\/a> network and cutting-edge infrastructure, Tata Communications drives the next level of intelligence in cloud, mobility, IoT, collaboration, security, and network services.<\/p>\n\n\n\n

Besides considering Tata Communication share price<\/a>, you must know that the company clocked \u20b920,969<\/a> crore in revenue in FY2024 compared to \u20b917,838.26 crore in FY2023. The reported EBITDA was \u20b94,230 in FY2024 and the company witnessed a PAT of \u20b9968 crore.<\/p>\n\n\n\n

Bharti Hexacom Ltd<\/strong><\/h2>\n\n\n\n
Market Cap\u20b961383.34 Cr<\/td>CMP  \u20b91227.00<\/td>All-time High\u20b9 1,369<\/td>PE Ratio
96.1<\/td>		1 yr CAGR Stock Price
–
<\/td>		ROCE (FY23)
14.3 %<\/td><\/tr><\/tbody><\/table>
Data sourced from Screener.in, as of 10 Sep 2024<\/em><\/figcaption><\/figure>\n\n\n\n

Bharti Hexacom is a communications solutions provider in 17 countries spanning South Asia and Africa<\/a>. It has a comprehensive range of services, including mobile, fixed line telephone, and broadband to customers in Rajasthan and Northeastern telecommunication circles. Its spectrum portfolio has a pool of mid-band spectrum holding (1800\/2100\/2300 MHz bands<\/a>) to effectively deploy 5G Plus services on non-standalone network architecture. <\/p>\n\n\n\n

The company\u2019s Revenue from Operations in FY2023-24<\/a> was registered at \u20b97,088.8 crores , with an 8% y-o-y increase. The company\u2019s EBITDA \u20b93.490.5 crores, with a 21% increase, while its PAT was \u20b9504.4 crores. <\/p>\n\n\n\n

Tata Teleservices (Maharashtra) Ltd<\/strong><\/h2>\n\n\n\n
Market Cap\u20b918,104 Cr<\/td>CMP\u20b992.7  <\/td>All-time High\u20b9111<\/td>PE Ratio
– <\/td>		  1 yr CAGR Stock Price-8%<\/td>ROCE (FY23)47.9 %<\/td><\/tr><\/tbody><\/table>
Data sourced from Screener.in, as of 10 Sep 2024<\/em><\/figcaption><\/figure>\n\n\n\n

Tata Teleservices (Maharashtra) Limited (TTML<\/a>) is a leading player in the connectivity and communication solutions market, serving enterprise customers through its brand Tata Tele Business Services (TTBS). TTML offers a comprehensive portfolio of ICT services, including connectivity, collaboration, cloud, security, IoT, and marketing solutions. <\/p>\n\n\n\n

Railtel Corporation of India Ltd<\/strong><\/h2>\n\n\n\n
Market Cap\u20b9 15,306 Cr.<\/td>CMP  \u20b9 477<\/td>All-time High\u20b9 618 <\/td>PE Ratio57.3<\/td>1 yr CAGR Stock Price92%<\/td>ROCE (FY23)20.2 %<\/td><\/tr><\/tbody><\/table>
Data sourced from Screener.in, as of 10 Sep 2024<\/em><\/figcaption><\/figure>\n\n\n\n

A Mini Ratna (Category-I) Central Public Sector Enterprise, RailTel is among the largest neutral telecom infrastructure providers, owning a pan-India optic fiber network that covers several towns, cities, and rural areas. A robust entity among  communications sector stocks, it has a strong a reliable network of 61,000+ RKM of Optic fibre. With its high-capacity network, RailTel has been chosen to implement various mission-mode telecom projects for the Government of India. Along with the Indian Railways, it is transforming railway stations into digital hubs. Together, they provide public Wi-Fi at a total of 6,108 railway stations across the country. <\/p>\n\n\n\n

Railtel\u2019s total Revenue for FY 2023-24<\/a> was \u20b92,622 crore, as it registered an EBITDA of \u20b9335 crore  and a PAT of \u20b9246 crore. <\/p>\n\n\n\n

Hathway Cable & Datacom Ltd<\/strong><\/h2>\n\n\n\n
Market Cap\u20b9 3,783 Cr<\/td>CMP  
\u20b9 21.4<\/td>		All-time High
\u20b9 28.0 <\/td>		PE Ratio39.5<\/td>1 yr CAGR Stock Price15%<\/td>ROCE (FY23)2.29 %<\/td><\/tr><\/tbody><\/table>
Data sourced from Screener.in, as of 10 Sep 2024<\/em><\/figcaption><\/figure>\n\n\n\n

Hathway Cable & Datacom Ltd is a leading cable broadband service providers in India. It offers high-speed cable broadband services across various cities and is also a significant player in the cable television segment. Hathway has a strong presence in the digital cable TV and broadband internet markets.<\/p>\n\n\n\n

Hathway Cable & Datacom Ltd had a total revenue of \u20b91980.97 crore o crore in the year that ended March 2024<\/a>, which increased from \u20b918,585 crore in the same period of 2023. Its operating EBITDA stands at \u20b9322.5 crore against \u20b9315.48 crore the previous year and PAT is \u20b999.29 crore versus last year\u2019s \u20b965.37 crore.<\/p>\n\n\n\n

Mahanagar Telephone Nigam Ltd<\/strong><\/h2>\n\n\n\n
Market Cap\u20b9 3,534 Cr<\/td>CMP 
\u20b9 56.1<\/td>		All-time High \u20b9 102<\/td>PE Ratio-<\/td>1 yr CAGR Stock Price115%<\/td>ROCE (FY23)-8.26 %<\/td><\/tr><\/tbody><\/table>
Data sourced from Screener.in, as of 10 Sep 2024<\/em><\/figcaption><\/figure>\n\n\n\n

Mahanagar Telephone Nigam Ltd (MTNL) is a state-owned telecommunications service provider in of Mumbai and Delhi, and one of the top communication services stocks. It offers fixed-line telephone, mobile services, broadband, and enterprise solutions. Despite facing financial challenges, MTNL continues to be a key player in the Indian telecom sector.<\/p>\n\n\n\n

MTNL logged in a total revenue of \u20b9935 crore for as of 31 March 2023<\/a>, which reduced to \u20b9798 crores on 31 March 2024. <\/p>\n\n\n\n

OnMobile Global Ltd<\/strong><\/h2>\n\n\n\n
Market Cap\u20b9 887 Cr.<\/td>CMP  
\u20b9 83.5<\/td>		All-time High
\u20b9 128 <\/td>		PE Ratio-<\/td>1 yr CAGR Stock Price-30%<\/td>ROCE (FY23)4.84 %<\/td><\/tr><\/tbody><\/table>
Data sourced from Screener.in, as of 10 Sep 2024<\/em><\/figcaption><\/figure>\n\n\n\n

OnMobile Global Ltd is a global leader in mobile entertainment services. It provides a wide range of services including ringback tones, mobile radio, and other value-added services to telecom operators worldwide. OnMobile has a strong presence in several countries and continues to innovate in the mobile entertainment space.<\/p>\n\n\n\n

The company\u2019s total revenue in FY2023-24<\/a> was recorded at \u20b9533.4 crores, while it was \u20b9535.8 crore the previous year.  OnMobile delivered 2.2X EBITDA (\u20b928.3 crores) in FY24 versus \u20b912.7 crores in FY23. Similarly, its PAT was \u20b915.3 crores in FY24, as opposed to \u20b96.8 crore FY23.<\/p>\n\n\n\n

Reliance Communications Ltd<\/strong><\/h2>\n\n\n\n
Market Cap\u20b9578 Cr.<\/td>CMP  \u20b92.09<\/td>All-time High\u20b9 2.49<\/td>PE Ratio-<\/td>1 yr CAGR Stock Price19%<\/td>ROCE (FY23)-<\/td><\/tr><\/tbody><\/table>
List sourced from <\/em>Ind Money<\/em><\/figcaption><\/figure>\n\n\n\n

Data sourced from Screener.in, <\/em>as of 10 Sep 2024<\/em><\/p>\n\n\n\n

Reliance Communications Ltd, part of the Reliance Group, was once one of India\u2019s largest telecom operators. It offered a wide range of services including wireless, wireline, broadband, and enterprise solutions. However, the company has faced significant financial difficulties in recent years, leading to a decline in its operations.<\/p>\n\n\n\n

On a consolidated basis in FY23, the company earned total revenues of \u20b9505 crore and the net loss after tax<\/a> recorded was \u20b9277 crore, while total operating expenditure stood at \u20b9498 crore.<\/p>\n\n\n\n

Why Invest in Communications Stocks?<\/strong><\/h2>\n\n\n\n

Investing in one of the top stocks in communication sector has the following benefits: <\/p>\n\n\n\n