Nirmal Bang Research is bullish on Bharti Airtel and maintained ‘Buy’ rating on the stock to achieve a target between Rs 710-730 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 630.

Shares of the company, on Monday (April 06), closed at Rs 659.85 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 39.31 and 15.98 respectively. The share price has seen a 52-week high of Rs 950 and a low of Rs 484 on BSE.

The stock also performed well on Monday, and if it maintains above 675, then a big up move is expected.

On Monday (April 06), Bharti Airtel launched the fastest wireline broadband, which is powered by Airtel’s Carrier Ethernet Network, in New Delhi.

The service based on optic fibre-based DSL technology offers up a speed of 16 Mega bits per second (Mbps).

Moreover, the company also plans to roll out the service in Chennai and Bangalore.

The 16 Mbps broadband will let telecom users to enjoye two times more speed than the presently-available highest speeds for the retail sector in the country. The 16 Mbps speed will facilitate the download of a 4 GB high-definition movie within 30 minutes, as against the earlier almost 12 hours taken using a 256 Kbps connection.

In March 2009, Bharti Airtel had the most congested GSM network in October- December 2008, accompanied closely by Vodafone, said TRAI.

TRAI also said that Bharti had the biggest number of points of interconnection (POIs) with congestion during the three month period among the mobile service providers.

Moreover, Bharti Airtel said that it has no plans to raise foreign investment in the company.  

Chairman, Sunil Mittal said that even though the company has the headroom to raise the money, they have decided against fund raising.

Other stocks from the same sector that looks good for short-term as well as long-term trading includes Tata Comm and RCom.