A strong share price day after quarterly results lifts Bharti Airtel’s market value past its rival’s, but the gap is narrow
India’s two biggest telecom rivals have swapped places again, this time on the stock market. Bharti Airtel has overtaken Jio Platforms to become India’s second-most valuable listed company, behind only Reliance Industries.
The numbers
BSE data after the trading session on 6 November showed Airtel’s full market capitalisation at ₹13,08,165.03 crore, compared with ₹12,94,559.51 crore for Jio Platforms. That put Airtel ahead by ₹13,605.52 crore at market close, a gap of roughly one percent. Airtel reclaimed the title on Friday, overtaking Jio Platforms.
The rest of the top five reads: Reliance Industries at ₹17,83,723.93 crore, Bharti Airtel, Jio Platforms, HDFC Bank at ₹12,14,530.78 crore, and ICICI Bank.
What pushed Airtel up
Airtel’s rise in the rankings came a day after the telecom major reported strong financial results for the September quarter of FY27. The change followed a rise in its share price on Friday. I haven’t included Airtel’s quarterly figures here, since the reports I found didn’t give them in detail, so please check the company’s results release for the numbers.
Jio’s short stay at No. 2
The reversal is notable because of how recently Jio took the spot. Jio Platforms listed at ₹1,358 per share, a 21.4% premium to its IPO price, with a market capitalisation of about ₹12.6 lakh crore, and overtook Bharti Airtel to rank second among listed Indian companies. At the time of listing, Airtel’s market capitalisation was ₹12,11,842 crore, against Jio’s ₹12,51,967 crore.
Airtel’s crossover came nine days after Jio’s listing, with Jio Platforms slipping to third. So Jio held the second position for under two weeks.
Why this matters
The ranking itself doesn’t change what either company earns, but it shows how investors are weighing India’s two largest telecom players. Both are now valued at more than ₹12 lakh crore, and the market is clearly treating them as close rivals. The narrow gap also means the order could flip again in coming sessions.
It also shows how quickly sentiment moves around results. A strong quarter was followed by a share price jump, and that alone was enough to change a headline ranking.
What to watch next
- Whether Airtel holds its second place, since the lead is only about ₹13,600 crore and market caps move every day.
- How Jio Platforms’ shares trade after the post-listing excitement settles.
- Jio’s first quarterly results as a listed company, which will give investors a fuller comparison with Airtel.
- Whether HDFC Bank, at about ₹12.1 lakh crore, closes in on the telecom pair.
Note: Market capitalisation figures are from BSE data at close on 6 November 2026 and change daily, so the ranking may have shifted by the time you publish. This is not investment advice. Please check live BSE or NSE data before publishing.
Add Business Connect magazine to your Google News feed