Stock market analysts have maintained ‘buy’ rating on Bharti Airtel stock with a short term target of Rs 920.

According to them, interested investors can purchase the stock around Rs 840 with a strict stop loss of Rs 830.
 
Shares of the company, on Wednesday (August 6), closed at Rs 869.70 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 1010461. Current EPS and PE Ratio stood at 36.24 and 23.37 respectively. The share price has seen a 52-week high of Rs 1149 and a low of Rs 688 on BSE.

The stock can still exhibit superb surge and it will achieve the target price as the company has strong growth plans and strong operating capabilities.

Bharti Airtel has announced that I’ll soon be giving competitors such as Nokia, Samsung and others a run for their money at the stroke of midnight on August 21, 2008.

Millions of Airtel subscribers will be capable of buying the iPhone 3G at Airtel’s Relationship Centres from August 22.

Bharti Airtel registered a substantial increase in standalone net profit for the three month period ended June 2008. During the quarter, the company’s profit zoomed 44.86% to Rs 20,467.90 million.

The company reported earnings of Rs 10.78 per share during the quarter, registering 44.70% growth over prior year period.

Net sales for the quarter surged 40.65% to Rs 78,930.10 million, whereas total income for the quarter rose 39.72% to Rs 79,523.20 million.

Interest cost decreased 77.49% to Rs 584.70 million, while depreciation cost fell 3.44% to Rs 7,251.00 million over previous year period.

Moreover, Bharti Airtel, on July 18, signed up strategic deal with SKS Microfinance to make mobile telephony available and reasonable for rural consumers.

Airtel’s initiative, Grameena Mobile Kranthi, is aimed at enabling every individual in rural India to have tele-connectivity via mobile phone.