Nirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy on Bharti Airtel with a target between Rs 860-890.

In latest research report, the firm said that the stock has been consolidating for a while, it has resistance at 835, if sustains above then look for a target of 860-890.

Interested investors can buy the stock on dips and hold.

In addition, the firm has suggested a support level for the scrip at Rs 803.

Today (July 02), the stock opened at Rs 829.90, as against its last closure of Rs 822.80 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 40.79 and 19.67 respectively. The share price has seen a 52-week high of Rs 990 and a low of Rs 484 on BSE.

In terms of subscriber base, Bharti Airtel and Reliance Comm are the only Indian telecom biggies to feature in the top 20 operators internationally.

Bharti Airtel is on 8th place with 93 million subscribers as at the end of first quarter of 2009, while RCom is at the 19th spot with 61.1 million subscribers.

Bharti Airtel and RCom, on June 23, said that they have joined the fight to get hold of the African business of Kuwait-based Zain Group.

A media report said that both the companies have joined French company Vivendi that is still locked in talks with the Kuwait group for a `business valued at $12 billion`.

At present, Bharti is making discussions with South African telecom major MTN for a joint venture, which could result in the merger of the two entities.

Bharti Airtel, on June 10, declared a managed services agreement with Comviva, the major provider of integrated VAS solutions for mobile operators in rising markets.

With the signing of this agreement, Bharti Airtel turns the first telecom services operator in the world to have a managed services contract for its VAS collection.