Bharti Airtel rallies six percent, marking its sharpest intra-day jump in 18 months, fueled by S&P’s positive outlook and robust growth projections across mobile, broadband, and enterprise segments.

Shares of telecom giant Bharti Airtel are surging today, up by 5.28% as of 2:30 PM IST. After opening in the red, the stock is now trading at Rs.1,643.95, with a gain of 5.35%. The stock has reached an intraday low of Rs.

Bharti Airtel shares surged 7% after ICICI Securities upgraded the stock to 'Buy' with a target price of Rs 1,875. The brokerage cited a remarkable recovery in key parameters and expects this trend to continue.

Shares of Bharti Airtel on Friday, November 29 jumped over 5% to hit an intraday high of Rs 1,640.90 on the NSE. The telecom scrip had been on a correction mode since last month, and today it bounced back sharply.

S&P Global Ratings expects Airtel's earnings and cash flows are set to rise over the next 24 months, benefitting from the industry-wide hike in mobile tariffs in India.

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Bharti Airtel's shares delivered positive monthly returns consecutively from March to September before declining 6 percent in October.

Five key parameters, which influence telcos’ valuations, have shown remarkable recovery, and may either sustain or improve further, says the brokerage.