Bharti Airtel Share Price Among Top Nifty Gainers as Nomura Raises Target on Tariff Hikes, Cash Flow Outlook

Bharti Airtel CMP Rs 1,870, up 1.6%. Nomura Buy, target raised to Rs 2,355, implying 26% upside. Cites 3QFY27 tariff hikes, strong EBITDA and FCF.

The Bharti Airtel share price climbed among the top gainers on the Nifty 50 on Tuesday after brokerage Nomura raised its target price on the stock, citing an upcoming tariff hike cycle and a strengthening free cash flow outlook. The stock was trading around Rs 1,870, up about 1.6 percent on the day, after touching an intraday high of Rs 1,876.60.

Nomura has maintained its Buy rating on Bharti Airtel and raised its target price to Rs 2,355, implying an upside of around 26 percent from current levels, as the brokerage builds in expectations of a fresh round of tariff increases in the December quarter of FY27 alongside continued strength in earnings and cash generation.

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Why Nomura Raised the Bharti Airtel Share Price Target

Bharti Airtel is expected to benefit from another round of tariff hikes in the third quarter of FY27, which Nomura believes will support strong EBITDA and free cash flow growth over the coming quarters. The brokerage’s revised target reflects growing confidence that India’s three player telecom market structure continues to favour disciplined pricing behaviour, allowing operators like Bharti Airtel to push through periodic tariff increases without significant subscriber attrition.

Beyond the core mobility business, Nomura highlighted multiple growth drivers behind its bullish Bharti Airtel share price call, including continued premiumisation of the subscriber base, expansion in data centres, the Airtel Money digital payments business, cloud services, lending initiatives and a rising stake in Indus Towers, all of which the brokerage sees adding to the company’s earnings base over time.

The table below summarises the key numbers behind today’s move in the Bharti Airtel share price.

What the Cash Flow Outlook Means for the Bharti Airtel Share Price

Nomura’s call on the Bharti Airtel share price places particular emphasis on the company’s improving free cash flow trajectory, as capital expenditure on network rollout moderates while average revenue per user continues to climb. A stronger free cash flow profile typically supports a reduction in debt and a more progressive capital return policy over time, a combination that has helped re-rate telecom stocks globally as they mature from a heavy investment phase into a cash generation phase. Use the Univest Screener to track Bharti Airtel’s cash flow and debt trends ahead of its next quarterly results.

The brokerage also flagged four specific factors it believes justify the Bharti Airtel share price’s valuation premium over peers, underscoring that the stock’s relatively rich multiples are supported by superior execution, a stronger balance sheet trajectory and diversified growth optionality beyond the core telecom business.

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What Should Investors Watch on Bharti Airtel Now

Investors tracking the Bharti Airtel share price should watch for confirmation of the expected tariff hike cycle later in FY27, along with quarterly updates on average revenue per user, net subscriber additions and free cash flow generation. Bharti Airtel has continued to lead net subscriber additions in recent months, which Nomura sees as a supportive backdrop for the next leg of tariff repair across the industry.

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Conclusion

The Bharti Airtel share price extended its gains after Nomura raised its target price to Rs 2,355, reflecting growing confidence in the company’s tariff hike led earnings trajectory and an improving free cash flow profile. With multiple growth drivers beyond the core mobility business now in the mix, the stock remains one of the more closely tracked large cap telecom names on the Nifty 50. These targets are analyst estimates and not guaranteed returns, so investors should consult a SEBI registered advisor before making any investment decision.

Frequently Asked Questions

Why is the Bharti Airtel share price among the top Nifty gainers today?

Ans. The Bharti Airtel share price gained after Nomura raised its target price on the stock, citing an upcoming tariff hike cycle and a strengthening free cash flow outlook for the company.

What is Nomura’s new target price for Bharti Airtel?

Ans. Nomura has raised its target price for Bharti Airtel to Rs 2,355 while maintaining a Buy rating, implying an upside of around 26 percent from current levels.

What is the current Bharti Airtel share price?

Ans. Bharti Airtel was trading around Rs 1,870 on the NSE on 30 June 2026, up about 1.6 percent on the day.

When does Nomura expect the next tariff hike for Bharti Airtel?

Ans. Nomura expects the next round of tariff hikes in the third quarter of FY27, which it believes will support strong EBITDA and free cash flow growth for Bharti Airtel.

What are the growth drivers behind Nomura’s bullish view on Bharti Airtel?

Ans. Nomura cited premiumisation of the subscriber base, growth in data centres, the Airtel Money digital payments business, cloud services, lending initiatives, a rising stake in Indus Towers and a favourable three player industry structure as key growth drivers.

What is the 52 week high and low of Bharti Airtel shares?

Ans. Bharti Airtel has a 52 week high of Rs 2,174.50 and a 52 week low of Rs 1,740.50, with the stock currently trading well below its yearly peak.

Should investors buy Bharti Airtel shares after this target price hike?

Ans. Nomura’s target reflects the brokerage’s own estimate and is not a guaranteed return. This article does not constitute investment advice, and investors should consult a SEBI registered advisor before making any investment decision.