Bharti Airtel Limited delivered robust Q4 FY2026 results with consolidated net profit of ₹7,325.1 crores compared to ₹6,630.5 crores in Q3 FY2026, though down from ₹11,021.8 crores in Q4 FY2025. The company reported total income of ₹56,261.7 crores for the quarter ended March 31, 2026, representing a 2.89% quarter-on-quarter increase from ₹54,683.9 crores in Q3 FY2026. Earnings per share stood at ₹12.15 for Q4 FY2026, compared to ₹11.02 in the previous quarter and ₹18.38 in Q4 FY2025. For the full financial year FY2026, the company achieved total income of ₹2,13,790.1 crores against ₹1,74,558.9 crores in FY2025, with net profit of ₹26,695.2 crores versus ₹33,556.1 crores in the previous year, reflecting 20.45% annual decline.
Bharti Airtel shares responded positively to the Q4 results, with the stock trading at ₹1,788.10 on BSE compared to the previous close of ₹1,756.75. The stock hit an intraday high of ₹1,797.45 and intraday low of ₹1,745.00, with 457,675 shares traded in over 18,406 trades during the session. The net turnover during the day was ₹81,18,27,500, reflecting strong investor interest in the telecom major's performance. The positive market response comes despite the company's annual profit decline, as investors focused on the sequential quarterly improvement and strong operational metrics.
TVS Motor Company continues to receive contrasting recommendations from major brokerages, with Kotak maintaining Add but cutting the target price to ₹3,925 from ₹4,000. The brokerage highlighted a strong quarter driven by better average selling prices and lower costs, while expecting domestic two-wheeler demand momentum to sustain. Morgan Stanley maintained Overweight with a target price of ₹4,327, citing management positivity on domestic and export demand, though noting commodity inflation as a near-term headwind. Jefferies maintained Buy with a target of ₹4,500, expecting 22% EPS CAGR over FY26-29, while Goldman Sachs maintained Buy but hiked the target to ₹4,150 from ₹4,100. Following Q4FY26 results, brokerages now see up to 18% upside potential on strong growth outlook, with the company positioned well for continued domestic and export market expansion.
Bharti Airtel received positive coverage from multiple brokerages, with Jefferies maintaining Buy and hiking the target to ₹2,350 from ₹2,250 following revenue and EBITDA beats that exceeded estimates. Macquarie maintained Outperform with a target of ₹2,220, noting Q4 performance was broadly in line with expectations. The telecom major continues to benefit from strong India mobile growth and margins, with homes and Africa businesses performing well, while strong free cash flow supports higher payouts. However, Kaynes Tech faces challenges with CLSA maintaining Outperform but noting Q4 missed estimates on growth and balance sheet metrics, with the stock potentially reacting negatively in the near term. The company's board has approved the issuance of up to 14.6 crore shares (worth ₹28,220 crore) at ₹1,923 per share to Indian Continent Investment as part of a $2.9 billion stock swap for a 16.31% stake in Airtel Africa, while reappointing Sunil Bharti Mittal as Chairman for a 5-year term starting October 1.
According to reports from Jefferies, persistent FPI selling continues to weigh on markets, with the brokerage preferring stocks with stronger domestic institutional ownership. Top ideas include Eternal, Kotak Bank, JSW Energy, IndiGo and Godrej Consumer. The brokerage noted that weak monsoon could hurt staples and tractor demand, while AC and electricity demand may benefit, with rural demand seen resilient unless severe drought emerges. CLSA maintained Outperform on Kaynes Tech with a target of ₹4,200, though noting Q4 missed estimates on growth and balance sheet metrics. Underweight recommendations persist on staples and paints sectors due to input cost inflation risks.
