According to reports from CNBC TV18, Bharti Hexacom shares are trading with gains on Wednesday, March 18, extending their winning streak for the third consecutive session. However, the stock remains under significant pressure and is down about 16% so far in calendar year 2026, underperforming the benchmark Nifty 50, which has declined around 5% over the same period. The stock is currently trading 1.09% higher at ₹1,547.70, as reported by CNBC TV18.
As reported by CNBC TV18, the weakness in Bharti Hexacom shares has been driven by concerns over delays in tariff hikes and earnings per share estimate cuts of 4-5% for FY27 and FY28. The brokerage expects a lower probability of a headline tariff hike by June 2026, citing risks from the ongoing Middle East crisis, which could push up inflation and limit the ability of telecom operators to increase tariffs. According to CNBC TV18, Jefferies has built in a single tariff hike of 15% in December 2026 over the financial years 2026 to 2028 period.
According to CNBC TV18, global brokerage firm Jefferies has maintained a 'Buy' rating on the stock with a revised price target of ₹1,880 per share, implying a potential upside of about 27% from current levels. The target is based on a valuation of 14 times enterprise value to earnings before interest, tax, depreciation and amortisation (EBITDA). In a bullish case, the price could rise to ₹2,510, implying an upside of nearly 69%, assuming cumulative tariff hikes of 30% over FY27 and FY28. In a downside scenario, the stock could fall to ₹1,270, indicating a potential decline of about 14%, as reported by CNBC TV18.
As reported by CNBC TV18, among 13 analysts tracking the stock, eight have a 'Buy' rating, two recommend 'Hold', and three have a 'Sell' rating. The brokerage has cut its consensus earnings estimates by 4-5% for FY27 and FY28 during the current year. Jefferies believes Bharti Hexacom remains one of the best plays on India's tariff repair story and sees the risk-reward as attractive, according to CNBC TV18.
