Bharti Airtel's market capitalization surpassed Rs 10 trillion for the first time, as the company's stock price reached a new high of Rs 1,673.35, gaining 1% on the Bombay Stock Exchange (BSE) in Thursday's intra-day trading.

In intra-day trading, the total market capitalization of Bharti Airtel (Rs 9.52 trillion) and its partially paid shares (Rs 49,526 crore) reached Rs 10.02 trillion. At 09:36 AM, the total market capitalization of Bharti Airtel (Rs 9.50 trillion) and Bharti Airtel's partially paid shares (Rs 49,367 crore) was Rs 9.99 trillion, according to BSE statistics.

Currently, Reliance Industries (Rs 19.91 trillion), Tata Consultancy Services (Rs 15.86 trillion), and HDFC Bank (Rs 13.07 trillion) have market capitalizations greater than Rs 10 trillion.

Bharti Airtel has outpaced the market over the last month, rising 14% compared to the BSE Sensex's 4% rise. Thus far in calendar year 2024, the stock has increased by 62%, compared to the benchmark index's approximately 16% advance.

Bharti Airtel is a worldwide communications solutions company with over 550 million consumers spread across 17 South Asian and African countries. The corporation is one of the world's top three mobile providers, with networks that reach more than two billion people. Airtel is India's biggest integrated communications solutions provider and Africa's second-largest mobile operator.

Bharti Airtel saw constant high revenue growth in mobile services, demonstrating its execution ability and ongoing market share gains. The company's business risk profile has improved as a result of recent broad-based rate rises of 17-19% on average, which Airtel will implement in June 2024, and are projected to increase its average revenue per user (ARPU). According to experts, this, combined with increased data use as a result of 5G service deployment, which leads to customer up-trading, will continue to fuel ARPU growth in the short to medium term.

Axis Securities analysts predict Bharti Airtel will continue to gain market share, owing to its strong penetration and low expenditure requirements. With a better digital portfolio and increased per-user data, the brokerage business is optimistic about the company's future growth. Analysts at the brokerage firm retain a 'Buy' recommendation on the stock, citing the company's greater profitability, stronger subscriber growth, and higher 4G conversions. However, the company's stock is trading higher than the brokerage firm's target price of Rs 1,660 a share.