Technical analyst Abhishek Jain of Stocksidea. com has suggested investors to buy Bharti Airtel stock for a short-term period of 1-2 weeks.

Mr. Jain expects the stock to hit a target of Rs 865.

The company is presently trading around Rs 765-773 level.

According to Mr. Jain, the stock may face some resistance around Rs 851 levels, but after that it can even have more upward movement.

The scrip has very strong support at Rs 702.

The shares of the company (May 08), closed at Rs 767.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 898.65 and a low of Rs
484 on BSE. Current EPS and P/E of the stock stood at 40.79 & 18.81 respectively.

Mr. Jain also said that the stock is looking strong technically, and it is looking great to buy for short term traders and investors. Indicators showing good up move for next few days.

Bharti Airtel has signed up a multi-million dollar agreement with Manchester United, under which its 100 million subscribers would obtain exclusive access to the mobile content related to one of the world's amplest football clubs.

The company's functionary said that it is a multi-million dollar contract, but did not reveal additional details regarding the deal.

On April 30, Bharti Airtel has entered into a five year fixed-line and broadband network management contract with Alcatel Lucent.

The pact is valued at $500 million.

The company announced a marginal growth in its consolidated net profit after tax for the quarter ended March 2009.

It earned a profit of Rs 20,477.3 million, whereas total income for the quarter stood at Rs 102,551.4.