Amit Harchekar of IIFL advice traders to buy Bharti Airtel for the target of Rs 340 with a stop-loss of Rs 312, as a trading band is seen moving from Rs 275 to Rs 310 in the stock.
Harchekar told CNBC-TV18, "Bharti Airtel has taken out that multiple resistance which was prevailing between Rs 305 to Rs 311 and I believe till the time we do not see any reversal below Rs 305 the trend remains positive. Earlier we had seen a trading band moving from Rs 275 to Rs 310 and that projects the upside target close to Rs 340. So, again at these levels it becomes a buy but the stop loss comes all the way down to Rs 312 and once there is some minor resistance seen at Rs 329, once that is taken out I think Rs 340 should be on the cards." The company's trailing 12-month (TTM) EPS was at Rs 20.32 per share. The stock's price-to-earnings (P/E) ratio was 16.07. The latest book value of the company is Rs 130.16 per share. At current value, the price-to-book value of the company was 2.51. The dividend yield of the company was 0.31%.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
