Reliance Jio's Q3 profit surged 62% YoY to Rs 1,350 crore, while Arpu fell to Rs 128.40.
TCS logged Rs 8,118 cr profit against Rs 8,105 cr net reported for the same quarter last year.
Investors will be keenly eyeing the third-quarter earnings of the companies, and the forthcoming Union Budget for further cues.
Telcos face over Rs 1.02 lakh crore in additional licence fees, SUC, penalties and interest.
BSE Midcap and BSE Smallcap indices rose 0.77 per cent and 0.78 per cent, respectively.
The 30-share Sensex closed 0.19 per cent or 80 points lower at 41,873.
The cyclical recovery in the economy will prop-up earnings next year, says Patil.
Among banks, corporate lenders will be in the limelight on the back of strong recovery.
Wipro Q3 profit fell 3% to Rs 2,463 crore. Revenue increased 2.73% to Rs 15,470.50 crore.
The 30-share Sensex closed 0.22 per cent or 93 points higher at 41,952.63.
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