Singtel Up 51% — but what’s next?
Singtel is up +51% in the past year,
but this rally is mostly driven by re-rating.
The holdco discount has narrowed to ~7%,
near historical lows.
The issue is:
core growth remains modest,
and ~50% of valuation comes from Bharti.
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- BernardGilbert·15:00Bharti overhang worries me. Core growth must pick up soon! [疑问]1Report