12 Mar , 2025 By : Debdeep Gupta
Telecom operator Bharti Airtel shares gained 3 percent in the opening session on March 12, after the firm announced a partnership with SpaceX, the aerospace company led by billionaire Elon Musk, to introduce Starlink satellite internet services in India.
In a joint statement released on March 11, the companies highlighted that the agreement marks Starlink’s first formal partnership in India. However, its implementation is contingent upon SpaceX securing the necessary authorizations to operate Starlink services within the country.
By integrating Starlink into its offerings—alongside its existing partnership with Eutelsat OneWeb— Bharti Airtel will strengthen its ability to provide nationwide coverage, particularly in underserved areas.
According to international brokerage JPMorgan, the Starlink offering is expected to be positioned as a premium service. The brokerage kept its 'overweight' rating on Airtel shares intact, with a target price of Rs 1,970 per share. This indicates a 66 percent upside from the previous session's closing price.
Shares of Bharti Airtel jumped over 3 percent to Rs 1,716.65 apiece. However, by 9.30 am, shares gave up opening gains to trade at Rs 1,666.7, up 0.2 percent on the NSE.
“Working with SpaceX to offer Starlink to Airtel customers in India is a significant milestone and further demonstrates our commitment to next-generation satellite connectivity,” said Gopal Vittal, managing director and vice chairman, of Bharti Airtel Ltd.
“We are excited to work with Airtel and unlock the transformative impact Starlink can bring to the people of India…The team at Airtel has played a pivotal role in India’s telecom story, so working with them to complement our direct offering makes great sense for our business,” said Gwynne Shotwell, president and chief operating officer of SpaceX.
Meanwhile, regulatory approvals remain a key hurdle for Starlink’s launch in India. The Indian space regulator, IN-SPACe, and the department of telecommunications (DoT) have yet to authorise SpaceX for Starlink’s operations.
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