Jio IPO may re-rate Bharti Airtel, says Jefferies; raises target price
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Jio’s planned mega IPO in the first half of 2026 could turn into an important re‑rating catalyst for Bharti Airtel, with Jefferies arguing that tariff hikes and higher sector weight in indices will work in Bharti’s favour rather than against it. The brokerage has raised its target price on Bharti Airtel to Rs 2,760, implying about 32% upside from current levels and reiterating the stock as its top pick in the Indian telecom industry. Billionaire Mukesh Ambani had last year guided to listing Jio Platforms Ltd (JPL) in the first half of the calendar year 2026. Analysts say that it could largely be an offer for sale by financial investors, while strategic shareholders such as Reliance, Meta, and Google are expected to stay invested. Jefferies argues that once Jio is listed, public market scrutiny will sharpen the operator’s focus on monetisation and returns, making fresh mobile tariff hikes in 2026 more, not less, likely. According to Jeffer...