Karvy Stock Broking Limited has maintained ‘Buy’ rating on Bharti Airtel stock to achieve an intraday target of Rs 850.

According to Karvy, interested traders can buy the stock between Rs 835-838. In addition, Karvy has suggested a support level for the scrip at Rs 831.

If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 852.

The company’s shares on Wednesday (June 10) closed at Rs 835.05 on BSE. Current EPS & P/E ratio stood at 40.79 and 20.76 respectively. The share price has seen a 52-week high of Rs 990 and a low of Rs 484 on BSE.
 
Bharti Airtel, on June 10, announced a managed services agreement with Comviva, the top supplier of integrated VAS solutions for mobile operators in growing markets. With the signing of this contract, Bharti Airtel turns the primary telecom services supplier in the world to have a managed services deal for its VAS range.

As part of this 3-year agreement, Comviva will direct about 2,000+ of Airtel`s VAS nodes across the country from different partners, to meet up defined service level deals.

Bharti Airtel has been chosen as the best service supplier of the year in the ‘Best of the Best’ group for the quality of its overall service.

On May 26, the potential merger of Bharti Airtel and South Africa’s leading telecommunication provider MTN Group is the biggest worldwide telecommunications deal and the fourth largest global merger and acquisition (M&A) deal in 2009.

The Bharti-MTN transaction worth $23 billion is nearly half of the total telecommunication M&A transactions declared till mid of this month.

According to global deal tracking firm Dealogic, global telecom volumes in 2009 stood at USD 49.2 billion through 410 deals.