Jefferies bets on Bharti Airtel as top telecom pick, sees Jio’s recovery driving growth

Bharti Airtel has emerged as the top telecom pick from Jefferies, supported by robust data subscriber growth and market share gains despite tariff hikes. Reliance Jio’s recovery in 4G/5G additions earned Reliance Industries a “buy” rating, while the brokerage anticipates Vodafone Idea’s persistent subscriber losses to further strengthen Airtel and Jio’s market positions.