In its latest research report, Abhishek Jain, stocksidea.com, said that Bharti Airtel, which has been consolidating between Rs 815-835 level, can give good returns in the short term.

The report further stated that, if the counter is successful to breach Rs 906 levels, then it will create a huge breakout.

Abhishek Jain has advised investors to hold the stock to achieve a target price above Rs 950.

Furthermore, the firm has suggested a support level for the scrip at Rs 774.

The shares of the company on Friday (July 17) closed at Rs 827.40 on the Bombay Stock Exchange (BSE). The total volume of the shares traded was 952,930.  The stock hit an intraday high of Rs 837.90 and a low of Rs 788 on BSE.

Current EPS and P/E of the stock stood at 40.79 & 20.28 respectively. The share price has seen a 52-week high of Rs 990 and a low of Rs 484 on BSE.

Mr. Jain also said that the stock is looking strong technically. Indicators are also showing good up move for next few days. Traders can buy cash and future for short term.

Bharti Airtel, on July 13, said that it has added 2.82 million mobile users in June 2009. This takes Bharti Airtel`s overall subscriber base to 102.4 million.

Government said that it is ready to divest 30% equity stake in Bharti Hexacom, a division of the Bharti Airtel.

It is discovered that all key ministries have given their nod to a Cabinet note moved by DoT on exiting Bharti Hexacom.

Bharti Airtel has signed deals with 23 global carriers of voice and data including Australia’s Telstra and UK-based Cable & Wireless that will make use of the Indian firm’s submarine cable network to route their India traffic.

Bharti Airtel, on July 08, said that it can divest its 36% equity stake in South Africa’s MTN Group via GDRs without MTN issuing a compulsory open offer.

The company’s move has been authorized by SEBI.

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

A report stated that Bharti together with RCom have signed a deal with French company Vivendi that is still making discussions with the Kuwait group for a  business valued at $12 billion.