Buy Bharti Airtel With Stop Loss Of Rs 333

Buy Bharti Airtel With Stop Loss Of Rs 333Technical analyst Jatinder Sharma has maintained 'buy' rating on Bharti Airtel Limited stock with a target of Rs 352-355.

According to analyst, the investors can purchase the stock with a stop loss of Rs 333.

Mr. Sharma said that the stock can attain the target within 1-2 trading sessions.

The stock of the company, on January 10, closed at Rs 338.85 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 376.50 and a low of Rs 257 on BSE.

Current EPS & P/E ratio stood at 20.54 and 16.76 respectively.

Mr. Ajay Chitkara, CEO of the telco's global data business stated that Bharti Airtel's worldwide data services biz anticipated to witness development of around 100% in 2011 in the Middle East and Africa as demand for data soars and new cable systems raise capacitance.

He stated that the company's worldwide data biz had already recorded development of between 60% and 80% a year in the region during the last couple of years.

Mr. Ajay attributed the fast growth to the truth that the company was rising its data biz from an undersized base, and also to infrastructure investments it has completed, comprising submarine cable systems.

The company's worldwide data biz has made total investment of $500 million in infrastructure comprising subsea cables during the last two years, with a few of the projects, which included the IMeWe cable that links the country (India) to the Middle East and Western Europe.




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