Karvy Stock Broking Limited has maintained 'Buy' rating on Reliance Communications Limited stock to achieve a target of Rs 245 within 1-2 days.

According to Karvy, day traders can buy the stock above Rs 232 with a stop loss of Rs 224.

Shares of the company, on Thursday (April 16), closed at Rs 217.45 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 8.36 and 26.80 respectively. The share price has seen a 52-week high of Rs 608.85 and a low of Rs 131.35 on BSE.

Nirmal Bang has maintained its ‘Buy’ rating on Bharti Airtel to achieve a target between Rs 725-745 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 705.

Shares of the company, on Wednesday (April 15), closed at Rs 685.10 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 39.31 and 12.47 respectively. The share price has seen a 52-week high of Rs 950 and a low of Rs 484 on BSE.

With the help of funds from its internal accretions and the foreign exchange proceeds, Reliance Communications intends buying back foreign currency convertible bonds (FCCBs) at a mark down, depending upon the central bank approval.

A tender offer, for repurchasing the bonds for cash at a discount, has been issued by the company to all its bond holders.

In a significant move, country's second largest mobile-phone operator, Reliance Communications (RCom) has decided to repurchased US $ 5 Million (about Rs 25.26 crore) foreign currency convertible bonds (FCCBs) at discount from the international markets.

In a disclosure to the Bombay Stock Exchange, the Mumbai based company, owned by Anil Ambani said that it has bought back 50 zero coupon FCCBs aggregating Rs 25.26 crore.

The filing further added that the repurchased bonds are expected to extinguish on April 15, 2009.

For the third time in the last four months, GSM have surpassed the earlier record pertaining to the highest number of new additions made a single month - this time, crossing the 10-million new subscribers' mark!

In order to take the lead in offering the best value for US to India calling, Bharti Airtel, Asia's leading integrated telecom services provider, on Thursday launched the never before calling rate of 1 cent a minute on its online calling card service airtelcallhome. com, with the name of IndiaOne offer.