Bharti Airtel’s shares climbed 3% to ₹1,953.95 on the BSE during Monday’s intraday trade, marking a fourth consecutive day of gains. The telecom company’s stock surged 11% over the period, outpacing the BSE Sensex, which fell 0.2%. At 12:49 PM, shares traded 2.2% higher at ₹1,946.30. The stock hit a 52-week high of ₹2,174.70 on November 21, 2025.
The company’s market capitalisation briefly overtook HDFC Bank’s in intraday trading. As of the latest data, Bharti Airtel’s market cap stood at ₹11.91 trillion, compared to HDFC Bank’s ₹11.90 trillion. The stock has fallen 8% year-to-date, less than the 22.5% decline in HDFC Bank’s shares. Over the past month, the company rose 5.5%, while the Sensex dropped 4.5%.
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Analysts at Axis Securities said the company is “well-positioned to continue gaining market share,” citing high user penetration and low capital expenditure needs. The firm maintains a “Buy” rating with a target price of ₹2,530 per share. Its digital services, driven by rising data usage and expanding business segments, are seen as key growth drivers.
Bharti Mittal, the company’s chairman, aims to increase its stake to 51% through Bharti Telecom, up from the current 40%. The board approved a share swap with ICIL to acquire additional shares. This move could shift control dynamics within the firm, though details remain sparse.
Despite the recent rally, the company’s shares have underperformed in 2026, down 8% from their starting point. The broader market, including the Sensex, has also faced declines. However, the stock’s resilience in the past month highlights its appeal amid sector-specific challenges.
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The company’s ability to maintain growth amid economic headwinds has drawn attention. Axis Securities noted that the company’s minimal capital spending requirements and strong digital infrastructure give it an edge over peers. These factors, combined with its expanding business lines, could sustain its momentum.
Bharti Mittal’s plan to secure a controlling stake signals confidence in the company’s long-term prospects. The share swap with ICIL, though not yet executed, could solidify ownership and influence strategic decisions. However, the transaction’s timeline and impact on shareholders remain unclear.
The stock’s recent performance contrasts with HDFC Bank’s struggles. While the company’s market cap briefly surpassed its rival’s, the banking sector’s broader challenges—such as loan defaults and interest rate pressures—may limit its ability to hold the lead for long.
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Investors are closely watching whether the company can maintain its upward trend. Analysts remain cautiously optimistic, citing its operational efficiency and digital growth. Yet, macroeconomic factors could still sway the stock’s direction in the coming months.
The company’s shares closed Monday’s session at ₹1,946.30, up 2.2% on the BSE. Its market cap now edges above HDFC Bank’s, though the gap is narrow. Whether this marks a lasting shift or a temporary anomaly remains to be seen.
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