Indian equity markets staged a sharp recovery after a volatile trading session, with the Nifty rebounding over 300 points from the day's low and reclaiming the crucial 23,700 mark for the second consecutive day. The Sensex also bounced back nearly 1,000 points from intraday lows, reflecting improved investor sentiment despite global uncertainties. Banking stocks led the rebound as Bank Nifty snapped its four-day losing streak, while midcap stocks outperformed benchmarks with positive market breadth. However, IT stocks continued to remain under pressure, with the IT index falling for the fourth consecutive day and down nearly 7% this week amid concerns over global growth and weak tech sentiment.
Bharti Airtel shares surged nearly 5% in Thursday's trading session, touching an intraday high of ₹1,876.90 on the National Stock Exchange (NSE), despite the telecom company reporting a 34% year-on-year fall in consolidated net profit for the March 2026 quarter. As reported by Business Standard, the rally was supported by strong trading activity, with around 13 million shares changing hands on the NSE, compared with 9.8 million shares in the previous session. Airtel shares outperformed the broader market, with the benchmark Nifty 50 trading lower by 1.3% at the time of the announcement.
Sunil Bharti Mittal, founder and chairman of Bharti Enterprises, announced during Airtel's Q4 earnings concall that he wishes to increase Bharti Telecom's stake in the Gurugram-headquartered telco to 51% from the current 40.5% holding. According to reports from Business Standard, Mittal also revealed plans to hand over the reins to the next generation in 10 years, coming a day after the telecom major approved his reappointment as chairman for a further five-year term until September 30, 2031. However, Mittal has now rejected the IT industry's approach of prioritizing dividends and buybacks over strategic acquisitions, as reported by multiple sources. The announcement provides positive market sentiment despite the company's quarterly profit decline, with Mittal stating that Airtel will focus on growth investments over shareholder payouts.
For the March 2026 quarter, Bharti Airtel posted a 33.5% year-on-year decline in consolidated net profit to ₹7,325 crore due to one-time provisions related to statutory and tax liabilities, as reported by Business Standard. The company had earned a profit of ₹12,476 crore in the March 2025 quarter due to a one-time gain in that period. However, the company achieved a 38.7% year-on-year growth in net income to ₹7,245 crore in the reporting quarter. The company announced that its annual revenue for the first time crossed ₹2 trillion, driven by 3.2% customer growth to 66.5 crore and an increase in average revenue per user (ARPU) in India.
In a significant strategic move, Airtel has boosted its stake in Airtel Africa to 78% through a share-swap deal, as reported by multiple sources. This expansion reflects Mittal's commitment to prioritizing growth investments over shareholder payouts. The board of Bharti Airtel considered and recommended a final dividend of ₹24 per fully paid-up equity share of face value ₹5 each, and ₹6 per partly paid-up equity share on which call money remains unpaid, as reported by Business Standard. Looking forward, Mittal anticipates potential buybacks in the coming years and stated a long-term goal for Bharti Telecom to maintain a 51% stake in Bharti Airtel, while management expressed confidence in growth opportunities in Africa markets due to low telecom density in the region and witnessed traction in the cloud segment.
