Karvy Stock Broking Limited has maintained ‘Sell’ rating on Bharti Airtel stock to achieve a target between Rs 820 today.

The investors are advised to sell the stock in order to avoid loss, as there are full chances of a downward trend in this stock.

If the stock fell below Rs 840, it may see more weakness.

According to Karvy, investors can sell the stock between Rs 845-852 with a strict stop loss of Rs 865.

After selling the stock in today’s session, the interested investors can enter the stock again, but only on declines.

The board of directors of Bharti Airtel, in its meeting held on Jun. 2, 2008, has allotted 93,408 fully paid up equity shares upon conversion of USD 500,000 FCCBs.

With the allotment of the above shares the equity base stand increased from present level of 1,897,927,396 to 1,898,020,804 equity shares of Rs 10 each.

Besides, Bharti Airtel announced that it has concluded talks with South African telecoms operator MTN Group.

The company registered a 39.28% growth in net profits to Rs 17,923.00 million for the quarter ended in March 2008 from a profit of Rs 12,868.40 million for the quarter ended in March 2007.

Net sales rose 42.06% to Rs 74,137.30 million for the quarter ended March 2008 from Rs 52,187.30 million for the quarter ended March 2007.