Even after touching a 52-week low earlier in the session, Bharti Airtel shares staged a sharp rebound as investors looked past near-term concerns and focused on strong cash flows, rising ARPU hopes and the telecom giant’s Africa restructuring move. Bharti Airtel shares snapped their early trend on Thursday and were trading up by over 2% on the NSE, with the telco major on Thursday declaring slightly in-line Q4 FY26 results as well as restructuring its Africa business with a major acquisition. The stock was at an intraday high of Rs 1,833.50 after opening at Rs 1,820, compared with the previous close of Rs 1,789.20, at the time of writing, on the back of renewed interest seen in telecom counters.
The move came even after the shares had touched a 52-week low earlier in the day, with investors having taken stock of the firm’s stable growth in its Indian business, improving cash flow generation, rising ARPU estimates, and the board’s approval for a share swap deal with its African venture for its stake acquisition.
Mixed views from brokers but strong market reaction
Global brokerages had mostly positive commentary on Bharti Airtel’s quarterly performance. Morgan Stanley maintained an ‘Overweight’ rating with a target price of 2,450, while JPMorgan also retained an ‘Overweight’ stance with a target of 2,300, stating that India’s wireless and home business numbers were broadly in line with expectations.
However, UBS flagged concerns over Airtel increasing its Africa exposure through the latest transaction.
Bharti Airtel Africa’s share swap faces scrutiny
One of the biggest triggers for the stock was Airtel’s board-approved cashless share swap deal with promoter entity ICIL. Under the agreement, Airtel will buy the 16.31% stake in listed Airtel Africa from ICIL by issuing up to 146.8 million shares at ₹1,923 apiece.
The deal translates into an equity dilution of some 2.4%, but most analysts viewed the move as structurally positive and earnings accretive for minority shareholders in the long term.
Continued robust revenue growth
The telecom behemoth posted a quarterly revenue of ₹55,383 crore, up 16% YoY, supported by steady momentum in the India business and continued strength in Africa operations.
Revenue from India operations, including passive infrastructure services, grew 8% YoY to ₹39,566 crore. Meanwhile, the Africa business grew 1.1% quarter-on-quarter in constant currency.
Bharti Airtel has also declared a dividend of 24 per share for FY26, which is a massive 50% jump on a year-on-year basis and is even higher than street expectations. After steady interest from defence, the telecom stocks continue to attract attention on Dalal Street, and market participants remain focused on Airtel’s 5G rollout, addition of subscribers, strategy on premiumisation and the path ahead for ARPU.
(Disclaimer: This article is for informational purposes only and should not be considered investment advice. The views, opinions, and recommendations expressed herein are those of the respective experts. Readers are advised to consult a qualified financial advisor before making any investment decisions.)
Priyanka Roshan is a business writer and chief sub-editor at the NewsX website who tracks everything from stock market swings and corporate earnings to personal finance trends and policy shifts. Known for turning fast-moving business developments into sharp, reader-friendly stories, she combines speed, accuracy, and a data-driven approach to break down complex financial news for everyday audiences.
With over 9.5 years of newsroom experience, Priyanka has worked with leading media organisations, including Moneycontrol, Times Now, and Ping Digital, covering diverse beats such as business, politics, technology, auto, travel, sports, and the world. From live breaking news desks to SEO-led digital storytelling, she specialises in creating engaging content that keeps readers informed without overwhelming them.
