Bharti Airtel share price dips slightly amidst overall bullish sentiment

Mumbai, July 3, 2025 – Shares of Bharti Airtel Ltd experienced a modest decline in early trade on Wednesday, slipping by around 0.5% to ₹1,384 on the NSE despite a broadly positive sentiment across Indian equity markets. The minor dip comes after a strong rally in telecom and technology stocks in recent sessions. Market watchers, however, remain bullish on the stock in the medium to long term, citing robust growth in its data and enterprise services and the monetization potential from its Africa operations.

Sector Rally Continues, Airtel Takes a Breather

While Bharti Airtel witnessed a minor pullback, the Nifty 50 and BSE Sensex were both trading in the green, gaining 0.6% and 0.7% respectively, supported by buying interest in banks, FMCG, and IT stocks. The Nifty Telecom Index, which includes major players such as Bharti Airtel, Reliance Jio, and Vodafone Idea, also maintained a firm tone.

Analysts suggest that Bharti Airtel’s slight correction is more of a technical cooldown after weeks of upward momentum rather than a sign of structural weakness.

“Airtel has seen a strong run-up, particularly driven by ARPU (Average Revenue Per User) improvements and 5G rollout expectations. Today’s dip is likely profit-booking,” said Deepak Jaswal, Senior Technical Analyst at HDFC Securities.

Fundamentals Remain Strong

Bharti Airtel recently posted a consolidated net profit of ₹2,420 crore for Q4 FY25, marking a 20% year-on-year growth, driven by higher data consumption and strong subscriber additions. The company's ARPU rose to ₹209, the highest among Indian telecom operators, reinforcing its leadership in premium user segments.

The telco is also aggressively expanding its 5G network footprint, having already covered over 12,000 towns and cities. Bharti Airtel’s Africa business continues to perform well, with double-digit revenue growth and strong EBITDA margins.

“The company’s focus on premiumization, digital services, and enterprise solutions is expected to drive earnings growth in the coming quarters,” noted Anusha Mehta, Equity Research Head at Centrum Broking.

Analysts See Long-Term Upside

Despite the intraday softness, brokerages maintain a positive outlook on the stock.

• Motilal Oswal has a ‘Buy’ rating with a target price of ₹1,520.

• Jefferies India estimates Bharti Airtel's fair value to be ₹1,580, driven by data revenue expansion and cost optimization.

• ICICI Securities pegs Airtel as one of the top telecom picks for FY26, citing stable pricing and lower capex intensity going forward.

“Bharti is well-positioned to benefit from sector consolidation, pricing power, and high-value enterprise clients. The stock may consolidate near-term but offers long-term compounding,” said Rahul Shah, VP - Equity Advisory at MOFSL.

Market Context and Peer Comparison

India’s telecom industry is entering a phase of rational pricing and spectrum efficiency, after years of tariff wars. With only three major players—Reliance Jio, Bharti Airtel, and Vodafone Idea—the market is witnessing more stable pricing trends.

Reliance Jio has announced plans to raise tariffs in the coming quarter, which is expected to be a positive trigger for Bharti Airtel as well. Meanwhile, Vodafone Idea is still battling operational and funding challenges, which could further benefit Airtel in terms of market share gains.

Bharti’s focus on B2B and cloud services is also being closely tracked by investors as a future growth lever.

Investor Outlook: Cautious Near-Term, Optimistic Long-Term

For retail investors, today's price dip may present a buy-on-dips opportunity, especially for those with a medium to long-term horizon.

“Bharti Airtel remains a core portfolio stock for those betting on India’s digital transformation. Volatility is par for the course, but the growth narrative is intact,” said Karan Gupta, a fund manager at Axis Mutual Fund.

From a technical perspective, the stock has support at ₹1,360 and resistance around ₹1,420, and analysts expect range-bound action in the coming days unless there is a material trigger.

While Bharti Airtel’s minor price decline might have caught the eye, it does little to dampen the broader bullish sentiment around the telecom giant. With strong fundamentals, a growing subscriber base, and increasing ARPUs, the company continues to be seen as a long-term compounder in the digital infrastructure space.

Investors are advised to keep an eye on Q1 FY26 earnings and potential tariff revisions in the sector, both of which could offer fresh upside cues.