On Saturday, 1st February, Finance Minister Nirmala Sitharaman proposed an allocation of Rs. 95,298 crores for the information technology (IT) and telecommunications sectors in the Union Budget for 2025-26.
Additionally, to prevent classification disputes, Sitharaman also propos reducing the Basic Customs Duty (BCD) on Carrier-Grade ethernet switches from 20 percent to 10 percent, bringing it in line with Non-Carrier Grade ethernet switches.
Here are a few telecom stocks that saw gains of up to 10 percent following the Finance Minister’s Budget 2025-26 speech:
1. Bharti Hexacom Limited
With a market cap of Rs. 67,897.5 crores, the stock moved up nearly 3.4 percent on BSE to hit an intraday high at Rs. 1,404.7, during the special trading session of Saturday.
Bharti Hexacom Limited, a subsidiary of Bharti Airtel Limited, is engaged in providing telecom services in Rajasthan and Northeast telecom circles in terms of a Unified License granted by the Department Telecommunications (DoT), Government of India (GoI).
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2. Indus Towers Limited
With a market cap of Rs. 92,955.6 crores, the stock moved up nearly 5.5 percent on BSE to hit an intraday high at Rs. 366.2, during the special trading session of Saturday.
Indus Towers Limited is engaged in the business of setting up, operating and maintaining wireless communication towers.
3. HFCL Limited
With a market cap of Rs. 15,302.4 crores, the stock moved up nearly 9 percent on BSE to hit an intraday high at Rs. 106.9, during the special trading session of Saturday.
HFCL Limited is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration, and manufacture and supply of high-end telecom equipment, Optic Fiber and Optic Fiber Cable (OFC).
4. Vodafone Idea Limited
With a market cap of Rs. 66,981.5 crores, the stock moved up nearly 10 percent on BSE to hit an intraday high at Rs. 9.94, during the special trading session of Saturday.
Vodafone Idea Limited, one of the leading telecom service providers in India, is engaged in the business of telecommunication services.
Written by Shivani Singh
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