Wireless data card maker Option said it will supply its GlobeTrotter EDGE data cards to Airtel, India's biggest mobile phone operator, sending the Belgian company's shares to a record high. Shares in Option were 6.05 percent higher at 30.85 euros by 0716 GMT.
"India is rapidly becoming the world's fourth-largest economy and is already one of the world markets with the highest prospect for growth. It was clear to us that this was a business opportunity that could not be overlooked," Option Chief Executive Officer Jan Callewaert said in a statement on Monday.
Analysts welcomed the news but said they were more interested in Option's deals on the more sophisticated combination data cards.
Plugged into the side of a laptop, Option's data cards enable users to access the Internet at high speeds without a phone connection on standards such as EDGE, GPRS, WLAN and WiFi.