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Bharti Airtel Stock Surges Amidst Earnings Optimism

28 Oct

Summary

Bharti Airtel's stock rallied 3% to ₹1,974, outperforming the BSE Sensex in October.
Analysts anticipate strong earnings growth, potentially boosted by upcoming tariff hikes.
The company plans strategic investments in fiber backhaul, homes, and enterprise businesses.

Bharti Airtel's share price experienced a notable rally, climbing 3% to ₹1,974 in intraday deals on Tuesday, October 28, 2026. This surge occurred in an otherwise subdued market, fueled by expectations of robust earnings growth. Throughout October, Airtel's stock has outperformed the broader market, gaining 12% compared to the BSE Sensex's 1.5% rise.

Analysts at Motilal Oswal Financial Services (MOFSL) foresee strong earnings delivery, potentially enhanced by an anticipated tariff hike. Concerns about the impact of Jio Platforms Limited's upcoming listing on October 28, 2026, are considered overblown by MOFSL. They expect a 15% smartphone tariff hike in December 2026, projecting a 15% EBITDA CAGR over FY26-29E.

Bharti's management confirms the need for changes in mobile tariff structures, noting that unlimited 5G data plans cap monetization. However, they are confident in achieving 4-5% annual ARPU growth through upgrades and upsells. The company is prioritizing investments in fiber backhaul, homes, enterprise, and data center businesses.

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