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

Jefferies has rated Bharti Airtel as the top telecom pick, citing strong data subscriber growth and market share gains despite tariff hikes. Reliance Jio received a “buy” rating due to its recovery in 4G/5G additions. Vodafone Idea struggles with persistent subscriber losses. Jefferies expects Airtel and Jio to dominate, while Vodafone Idea faces intensified competition.