Bharti Airtel shares: Should one buy this telecom stock ahead of Jio IPO?

Bharti Airtel may face a fresh competitive narrative as the much-anticipated Jio Platforms IPO draws closer, but market expert Vishnu Kant Upadhyay believes the stock remains firmly in play for medium-term investors. His view is that while Jio’s listing could trigger some portfolio reshuffling within the telecom pack, Airtel’s market position is strong enough to absorb that disruption without suffering a lasting blow.

Jio IPO may change the narrative, not the thesis

The upcoming Jio IPO is widely seen as a landmark event for India’s telecom sector, which currently offers limited listed exposure among telecom players. That has helped Bharti Airtel command investor attention for years.

Upadhyay, AVP Research Advisory for Technicals and Derivatives at Master Capital Services, acknowledged that Jio’s entry into the listed universe could break Airtel’s near-monopoly appeal in the market. But he argued that investors should not confuse a new listing with a structural weakening of Airtel. “There would be some monopoly break and stock shifting from Bharti Airtel to Jio,” he said, adding that the impact “will not be very prolonged or sustained.”

Duopoly logic supports Airtel

The core of the bullish case rests on industry structure.In an interview to BTTV, Upadhyay said the telecom market is more likely to evolve into a duopoly than fragment meaningfully, leaving Bharti Airtel and Jio as the two dominant forces. In that setup, Airtel’s scale, brand strength and entrenched subscriber base continue to matter.

Upadhyay’s argument is clear: the arrival of another heavyweight does not automatically invalidate Airtel’s investment case. “We cannot say on the basis of IPO is coming of Jio… go away from the Bharti Airtel and move towards the Jio. Definitely not,” he said.

Charts signal recovery after correction

Beyond the sector narrative, Upadhyay also pointed to improving technical strength in Bharti Airtel. He said the stock has regained its key moving averages after a steep correction of roughly 14-15 per cent from its 52-week high, suggesting the worst of the recent weakness may be behind it.

He added that Airtel is now “forming a W kind of pattern,” with a possible double-bottom or even triple-bottom structure visible on daily charts. On that basis, he sees upside potential toward Rs 2,050 and Rs 2,080.