Last week, it was reported that one of the world’s biggest independent money managers has sold their stake in Singtel stock. This was yet another news to hit the local telecom stocks as competition intensifies. As we know, M1 stock is currently under the radar of several overseas companies for acquisition. One of these companies is reportedly to be a Chinese mining firm. Singtel stock is currently oversold based on the RSI metric. At $3.74 per share, the stock is now almost 13.4% down from its previous 52-weeks high of $4.32. It is now trading at 4.68% dividends yield with a Price-to-Earnings ratio of 15.6.
With the entry of a fourth telecom player in Singapore, it is indeed getting more competitive in the telecom landscape. Amidst the competition, size could matter and hence Singtel which is more diversified in business and is the larges telecom …