In its latest research report, Nirmal Bang, an equity research firm said that Bharti Airtel, which has been consolidating in the narrow range of 760-795, can give good returns in the short term.

The report further stated that, if the counter is successful to breach 795, then it will create a huge breakout.

Nirmal Bang Research has advised its investors to hold the stock to achieve a target price of Rs 850.

Besides, the report has also suggested a support level of Rs 735 for the scrip.

Today (July 16), the shares of the company opened at Rs 795 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 40.79 and 19.30 respectively. The share price has seen a 52-week high of Rs 990 and a low of Rs 484 on BSE.

Bharti Airtel, on July 13, said that it has added around 2.82 million mobile users during the last month (June 2009).

This takes Bharti's total subscribers base to 102.4 million.

As per data taken from COAI, total mobile subscribers based on the GSM technology in India rose by 8.89 million users during the same month to 315.78 million.

Government, on July 13, said that it is ready to divest its 30% equity stake in Bharti Hexacom, a division of the Bharti Airtel.

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

Bharti Airtel, on July 08, said that it can divest its 36% equity stake in South Africa`s MTN Group through GDRs without MTN issuing an obligatory open offer.

The Securities and Exchange Board of India (SEBI) has approved the said move.