Shares of Bharti Airtel surged more than 4% on December 13, marking its biggest intraday gain in seven weeks
Shares of Bharti Airtel surged more than 4% on December 13, marking its biggest intraday gain in seven weeks. The stock also emerged as the top gainer on the Nifty 50 index.
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According to Bloomberg data, a block deal involving 13.2 lakh shares of Bharti Airtel took place on the exchanges, potentially worth around Rs 212.60 crore. However, News18 could not confirm the buyers and sellers involved in the transaction.
By 12:47 PM, Bharti Airtel shares were trading at Rs 1,666.30 on the NSE.
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Optimism surrounding Bharti Airtel was also fueled by global brokerage firm Jefferies, which added the stock to its list of top picks for 2025. Jefferies forecasts the stock could reach Rs 1,920 by the end of 2025, implying an 18% upside from Thursday’s closing price.
The surge in the stock was further supported by a spike in trading volumes. Around one crore shares of Bharti Airtel were traded by midday, already surpassing its one-month average daily volume of 76 lakh shares. The stock has gained nearly 62% this year, reflecting strong performance as 2024 draws to a close.
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Raamdeo Agrawal, Chairman of Motilal Oswal Financial Services, recently praised Bharti Airtel’s shift from minute-based to data-based pricing, calling it a transformative change akin to the shift from traditional cell phones to digital ones. Speaking at the Motilal Oswal Wealth Creation study, he described the new tariff plans as disruptive and noted Bharti Airtel’s substantial investment of Rs 5-6 lakh crore with a goal of capturing 50% market share. Agrawal emphasized that Bharti Airtel not only survived but thrived in this competitive landscape, adding, “I believe Bharti Airtel’s best days are still ahead.”
