Bharti Airtel trades higher for 7th straight day, hits new high; here's why

Bharti Airtel stock rose 2% on Tuesday; S&P Global Ratings forecast the Airtel's India operations' reported EBITDA will triple in fiscal 2026, compared with a decade ago.

Bharti Airtel share price today

 

Shares of Bharti Airtel (Airtel) hit a new high of ₹2,159, gaining 2 per cent on the BSE in Tuesday’s intra-day trade in an otherwise tepid market. The stock price of the telecom services provider surpassed its previous high of ₹2,135.75 touched on November 4, 2025. In comparison, the BSE Sensex was down 0.10 per cent at 84,866 at 01:26 PM.

 

Airtel was quoting higher for the seventh straight trading day, surging 8 per cent during the period. The stock has bounced back 17 per cent from its previous month's low of ₹1,848.45 touched on October 3, 2025.

 

Why is Airtel trading higher in a subdued market today?

 

On Monday, November 17, 2025, S&P Global Ratings raised its long-term issuer credit ratings on Bharti Airtel to 'BBB' from 'BBB-'. 

 

Airtel’s strong earnings growth and cash flow will drive the telecom company's continued deleveraging over the next 12-24 months. The company's position and market share as a close second in the domestic telco market will remain solid. The global rating agency expects the industry to settle into a three-player market focused on improving returns.

 

According to S&P Global Ratings, the expected growth in the Indian operations stems from expectations of 2 per cent-4 per cent of annual subscriber additions and average revenue per user (ARPU) growth of 6 per cent-8 per cent over the same period, resultant from upgrades to higher-priced plans and higher data consumption.

 

The rating agency forecast the Airtel's India operations' reported EBITDA will triple in fiscal 2026, compared with a decade ago. Through this period, Airtel has solidified its market position as a close second in India's telcom industry, amid an industry consolidation.

 

Improvement in Airtel's cash flow is predominantly due to rising earnings. Under S&P Global Ratings base case, it forecast consolidated adjusted EBITDA to increase by 23 per cent-25 per cent to about ₹ 1.2 trillion in fiscal 2026 (year ending March 31, 2026), and 7 per cent-8 per cent annually over the subsequent two years.

 

“The positive rating outlook reflects expectations that Bharti Airtel's expanding earnings amid rational industry competition will result in improved financial flexibility over the next 12-24 months,” S&P Global Ratings said in its rationale. It forecast Airtel's funds from operation (FFO)-to-debt ratio will improve toward 45 per cent over the period. 

 

Motilal Oswal Financial Services reiterates BUY rating with target price of ₹2,365

 

Motilal Oswal Financial Services (MOFSL) reiterated its 'BUY' rating on Airtel with an SoTP-based revised target price of ₹2,365. 

 

Bharti continues to outperform the broader market (up 33 per cent YTD vs 8 per cent for Nifty-50), but the brokerage firm believe there are further re-rating triggers such as impending tariff hike, Jio Platforms Limited (JPL) IPO, and potential waiver on adjusted gross revenue (AGR) dues. Further, analysts believe long-term risk-reward is favorable (bull case: ₹2,970; bear case: ₹1,770).

 

“We continue to like Bharti’s superior execution on the premiumization agenda. Further, with moderation in capex intensity and a potential tariff hike, Bharti is likely to generate significant FCF (~₹ 1 trillion over FY26-27E),” analysts at MOFSL said. The brokerage firm raised FY26-28E EBITDA by 2-3 per cent, driven by higher growth in Airtel Africa and slightly higher India wireless ARPU.  

 

Analysts model a CAGR of 15 per cent/18 per cent in Bharti’s consolidated revenue/EBITDA over FY25-28E, driven by benefits of the ~15 per cent tariff hike in India wireless from December 2025, continued acceleration in Home broadband net adds, and strong double-digit growth in Africa.