Bharti Airtel share price hits new record high, crosses ₹2000 mark for first time
Bharti Airtel share price in focus: Bharti Airtel, India's second-largest telecom provider, saw its shares rise nearly 2.5% in intraday trade on Thursday, June 26, crossing the ₹ 2,000 mark for the first time and hitting a new all-time high of ₹ 2,009 per share. The rally also pushed the company's market capitalization to ₹ 11.5 lakh crore during the session.
Despite the broader Indian stock market facing volatility over the past few months, Bharti Airtel has maintained strong upward momentum, gaining 27% in under four months, positioning it as one of the top turnaround champions of 2025.
On Monday, global brokerage firm Jefferies reiterated its 'Buy' rating on the stock with a target price of ₹ 2,370. The brokerage outlined four key reasons to own the stock. First, it sees the company as the best way to play the ongoing consumption story in India.
Second, it highlights a significant runway for mid-teens revenue growth over the medium term. Third, the brokerage noted that the company's capital expenditure intensity has structurally declined, improving cash flows and return ratios.
Lastly, it believes the stock's valuations have significant scope for re-rating, offering attractive upside potential for investors.
Earlier, Macquarie also retains its bullish outlook on the stock and raised its target price to ₹ 2,050 per share.
Bharti Airtel continues to be a core investment idea for Macquarie and is included in its 'India Super 6s' list. The brokerage has now adopted a scenario-weighted valuation approach to better reflect the company's growth potential and evolving market conditions.
The improving financial performance and favorable industry dynamics, the brokerages note, make a strong case for continued strength in Airtel's stock in the coming quarters.
The company is set to benefit from rising 5G adoption, as recent years it had seen a significant shift from 4G to 5G. According to an updated report from Swedish telecom gear maker Ericsson, the number of 5G users in India is estimated to grow over three-fold to around 98 crores by 2030, while the number of 4G users is likely to decline by about 60% to 23 crores during the same period.
'By the end of 2024, 5G subscriptions in the country had reached 290 million, representing 24% of total mobile subscriptions. This figure is projected to rise to around 980 million by 2030, accounting for 75% of all mobile subscriptions,' the report said.
India's 5G journey is scaling rapidly fuelled by surging data demand, extensive mid-band spectrum coverage, rapid 5G smartphone adoption, and large-scale 5G FWA deployments, it added.
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