Bharti Airtel can test Rs 340-345: Gujral

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Bharti Airtel can test Rs 340-345, says Technical Analyst, Ashwani Gujral .

Gujral told CNBC-TV18, "In Bharti Airtel Rs 270-275 has been now probably confirmed as a bottom. With Rs 275 or Rs 280 kind of support it could get back its recent highs of Rs 340-345. But it does seem that even on weak days we are seeing good strength, so probably some accumulation is happening on Bharti."

The share closed at Rs 311.85, up Rs 11.85, or 3.95% with volumes of 1,436,575 shares. Market capitalisation stands at Rs 118,417.40 crore.

The company touched its 52 week high Rs 495.00 and 52 week low Rs 229.50 on 19 May, 2009 and 27 Nov, 2009, respectively. Currently, it is trading -37% below its 52-week high and 35.88% above its 52-week low.

The company's trailing 12-month (TTM) EPS was at Rs 24.68 per share. (Dec, 2009). The stock's price-to-earnings (P/E) ratio was 12.64. The latest book value of the company is Rs 72.49 per share. At current value, the price-to-book value of the company was 4.3. The dividend yield of the company was 0.32%.

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