Karvy Stock Broking Limited has maintained ‘Buy’ rating on Bharti Airtel stock with an intraday target of Rs 835.

According to Karvy, day traders can purchase the stock above Rs 810 with a stop loss of Rs 795. If the stock market remains on positive track, the next target for the day will be above Rs 850.

Shares of the company, on Wednesday (April 16), closed at Rs 806.70 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 512,164. The share price has seen a 52-week high of Rs 1149 and a low of Rs 700 on BSE.

The outlook for the stock is really very strong, and it is expected to move up on the back of huge volumes.

Today (April 17), Bharti Retail, subsidiary of Bharti Enterprises, has inaugurated its retail operations with the launching of its first retail store Easy Day in Ludhiana, Punjab.

The company has decided to establish three more such food and grocery stores in Ludhiana. It is also looking at setting up stores across all major cities across India.

During the initial phase, the company will launch neighborhood stores and afterward would open supermarkets and hypermarkets.

Bharti plans to invest Rs 100 billion to set up stores across the country by the next five years. The company said that it is looking at a retail space of 10 million square feet.

Bharti has a joint venture with world’s largest retailer Wal-Mart for supply chain, logistics and cash and carry ventures. The JV is expected to launch the first store by the end of 2008 and aims to open 10 to 15 centers over seven years.

On April 10, Bharti Airtel Ltd has informed that the company’s board meeting will be held on April 25, 2008, inter alia, to consider and take on record the Audited Financial Results for the 4th Quarter (04) and financial year ended March 31, 2008.

Other stocks from the same sector that looks good for short-term trading includes Reliance Comm, Idea Cellular, MTNL and Tata Comm.