Bharti Airtel dethroned HDFC Bank to become the second most-valued company in India in terms of m-cap after Reliance Industries.
The cumulative market capitalisation (m-cap) of Bharti Airtel stock rose to ₹11.85 lakh crore in intraday trade on Monday, 18 May, compared to the ₹11.80 lakh crore m-cap of HDFC Bank. The m-cap of Reliance Industries stands over ₹18.11 lakh crore at the current juncture.
Bharti Airtel shares jumped nearly 3% in intraday trade on the BSE on Monday, looking set to extend gains for the fourth consecutive session. Bharti Airtel share price opened at ₹1,909.35 against its previous close of ₹1,904.60 and rose 2.6% to an intraday high of ₹1,953.95.
In just four consecutive sessions, the stock has jumped more than 11%, while on a monthly scale, it is up nearly 4% so far in May after a 6% rise in April.
Earlier in April, Bharti Airtel surpassed HDFC Bank to become the fifth most valued firm in m-cap in India.
Bharti Artel shares hit a 52-week low of ₹ 1,745 on 13 May after hitting a 52-week high of ₹2,174.70 on 21 November last year.
On May 13, Bharti Airtel reported a 10.5% quarter-on-quarter (QoQ) increase but 33.5% year-on-year (YoY) decline in its Q4FY26 consolidated net profit to ₹7,325 crore.
The YoY fall in profit was largely due to a high base in the year-ago period, when the company received a tax credit of ₹2,892 crore. It also recognised a charge of ₹3,161 crore for regulatory and government levies during the quarter.
After the Q4 results, brokerage firm Motilal Oswal Financial Services maintained a buy call on the stock with a target price of ₹2,180.
Motilal tweaked its estimates for FY26 actuals and built in nearly 2.4% equity dilution to account for nearly 16.3% AAF stake purchase.
The brokerage firm models a CAGR of nearly 15% in Bharti’s consolidated revenue and EBITDA over FY26-28E, driven by “flow-through of the nearly 15% tariff hike in India wireless from Q2FY27, continued acceleration in home broadband net adds, strong double-digit CC growth in Africa, and steady growth in Enterprise offerings.”
Bharti Airtel shares technical outlook
Technical experts highlight that the charts are flashing bullish indicators for the stock.
Vipin Kumar, AVP- Equity Research and PMS at Globe Capital Market, pointed out that Bharti Airtel’s share price has been going through a congestion zone of ₹1,750 to ₹1,900 for the last 12 weeks. Last Friday, it breached this congestion range on a closing basis to the higher side.
Moving forward, Kumar expects Bharti Airtel to move north and test the ₹2,100 level in the near term.
“We suggest adding long positions in this stock as long as it remains above ₹1,750 on a closing basis,” said Kumar.
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Disclaimer: This story is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
