Buy Bharti Airtel - Nirmal Bang

Buy Bharti Airtel - Nirmal BangNirmal 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.

Bharti Airtel Ltd has declared a meeting of its directors will be held on April 30, 2009, to consider and take on record the Audited Financial Results for the 4th Quarter (Q4) and financial year ended March 31, 2009.

According to figures from the industry association COAI, Bharti Airtel added up largest number of subscribers in March among Indian GSM operators.

Airtel, which holds a market share of 32.57%, is heading the market with 93.923 million subscribers.

Bharti Airtel, on April 06, launched its fastest wireline broadband, based on optic fibre-based DSL technology, in New Delhi. It will shortly launch the service Chennai and Bangalore.

The 16 Mbps broadband will permit telecom users to experience two times more speed than the presently-available highest speeds for the retail sector in the country.

Global IT major IBM has bagged yet another outsourcing agreement from Bharti Airtel. IBM will manage the IT needs of Bharti’s hived-off tower arm, Bharti Infratel. The agreement is estimated to be worth around Rs 250 crore.

Bharti Airtel introduced its India calling card branded, ‘IndiaOne Offer’, in the USA permitting calls to be made to India for one cent per minute.

Bharti eyes 3 million strong NRI community in USA via this service. The cards can be purchased on Airtel’s website for $10.

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