Airtel surpasses TCS to become India's 3rd most valuable firm
Bharti Airtel has edged past Tata Consultancy Services (TCS) to claim the third spot among India's most valuable listed companies.
As of July 21, 2025, Airtel's market value hit ₹11.4 lakh crore—over ₹2,200 crore more than TCS.
Reliance Industries and HDFC Bank still hold the top two positions.
Airtel stock up over 20% this year; TCS down 22%
Airtel's stock has soared more than 20% this year, while TCS shares have dropped by 22%, partly due to worries about the US economy and AI shaking up the IT sector.
Analysts like Jefferies are optimistic about Airtel, giving it a "Buy" rating and expecting solid revenue growth ahead.
How Airtel and TCS's market values have changed this year
Airtel gained ground by facing less competition and spending less on upgrades this year, boosting its market value by nearly ₹2 lakh crore.
Meanwhile, TCS lost ₹3.4 lakh crore as global tech headwinds hit hard—showing how quickly fortunes can shift in India's business world.