Airtel has overtaken HDFC Bank to become the second most valued company in the country.
A major reshuffle has been seen in the list of top 10 companies of the country. Airtel has become the second most valued company of the country, leaving behind the country’s most valued bank. After Mukesh Ambani’s Reliance Industries, Sunil Bharti’s Airtel has become the second most valuable company in the country.
In the last few years, the fight for number two had become quite intense. After TCS, HDFC Bank had captured this chair. It seemed that no one would be able to move HDFC Bank from this chair. But in the last few months, Airtel shares have seen very good growth.
Due to which there has been a significant increase in the valuation of the company. On the other hand, shares of HDFC Bank have come down. Let us also tell you what kind of statements are being made about the figures of the most valued companies in the stock market…
This is how Airtel snatched the crown from HDFC Bank.
Bharti Airtel has overtaken HDFC Bank to become India’s second highest market cap company after Reliance Industries. In intraday trading on Monday, May 18, the total market capitalization (m-cap) of Bharti Airtel shares increased to Rs 11.90 lakh crore, while the market cap of HDFC Bank was Rs 11.80 lakh crore.
At present the market cap of Reliance Industries is more than Rs 18.11 lakh crore. Shares of Bharti Airtel rose nearly 3 per cent in intraday trading on BSE on Monday, and it looks like it will continue its rise for the fourth consecutive session. Bharti Airtel shares opened at Rs 1,909.35 against the previous closing price of Rs 1,904.60 and rose by 2.6 per cent to reach an intraday high of Rs 1,953.95.
The stock has gained more than 11 per cent in just four consecutive sessions, while on a monthly basis, after a 6 per cent rise in April, it has gained about 4 per cent so far in May. After hitting a 52-week high of Rs 2,174.70 on November 21 last year, Bharti Airtel shares had hit a 52-week low of Rs 1,745 on May 13.
Company’s quarterly results
On May 13, Bharti Airtel reported a 10.5 per cent rise in its Q4FY26 consolidated net profit on a quarter-on-quarter (QoQ) basis, but a 33.5 per cent decline on a year-on-year (YoY) basis, at Rs 7,325 crore. The main reason for the year-on-year decline in profit was the higher base compared to the same period last year, when the company had received a tax credit of Rs 2,892 crore. Apart from this, the company also showed an expense of Rs 3,161 crore for regulatory and government charges during the quarter.
Following the Q4 results, brokerage firm Motilal Oswal Financial Services has maintained ‘Buy’ advisory on the stock, and set a target price of Rs 2,180. Motilal made some changes to its estimates for FY26 actual numbers and included equity dilution of about 2.4 per cent considering the purchase of about 16.3% stake in AAF.
The brokerage firm estimates that Bharti’s consolidated revenue and EBITDA will see a CAGR (compound annual growth rate) of about 15 percent during FY26-28E. Key factors include the impact of nearly 15 per cent tariff increase in India’s wireless segment since Q2FY27, continued growth in home broadband new connections, strong double-digit CC growth in Africa, and steady growth in enterprise services.
