Bharti Airtel shares surged 7% after ICICI Securities upgraded the stock to 'Buy' with a target price of Rs 1,875. The brokerage cited a remarkable recovery in key parameters and expects this trend to continue.

Bharti Airtel Ltd.'s share price recorded its best jump since Sept. 12 and was the top contributor to Nifty's gains on Friday, following ICICI Securities' rating upgrade to 'buy'. The scrip was top gainer among Nifty stocks and also contributed the most to the rise in benchmark-50 stock index.

Bharti Airtel stock hit an intraday high of Rs 1648.70 in the current session. Later, it closed 4.30% higher at Rs 1627.45 on BSE.

Bharti Airtel's shares delivered positive monthly returns consecutively from March to September before declining 6 percent in October.