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The telecom regulator’s new rules to battle spam calls and messages has telecom companies all riled up.

FY26 numbers show that Airtel is stealing a march on its larger rival on most counts and is unrelenting in its ambition, casting a cloud on Jio’s valuation.
Reliance’s telecom business has demonstrated impressive growth in Q1. Yet, fundamental slippages are holding back profitability, even as Airtel continues to keep its lead. Expect more headwinds, not a bumper IPO.
The apex court’s quashing of its over $4 bn relief request did little to dim the telco’s stellar all-round show in FY25 or the market’s love for the stock.