The stock has risen by 81 per cent this year -- from Rs 348 to Rs 633. There still appears to be room at the top for this stock, but it will be prudent to buy the stock at marginally lower levels.

Bharti Airtel is the only operator to provide mobile services in all the 23 circles in India.

Analysts expect the country's mobile subscriber base to expand by 35-40 per cent annually over the next five years, to touch 344 million. The current mobile penetration level is low, but gathering pace due to higher disposable income of the middle-class.

Driven by lower tariff rates, cheaper handsets and sustained economic growth, the company's mobile subscriber base is set to jump to 90 million from the current 29 million by 2010.

Rising penetration, superior infrastructure and high-margin value-added services make Bharti a key telecom player in the coming years.

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