Singtel share price (SGX: Z74) returns from grave!
This will be my first coverage of Singtel share price in 2022. My last coverage on this counter was on 31 December 2021. Since then, Singtel share price has surged from $2.30 to $2.65 at the point of writing. Year-to-date, Singtel share price has increased about 14%. Is this yet another false dawn or light at end of tunnel for the leading regional telco?
Whilst it may be too early for investors to pop the champagne, the operating climate has certainly improved significantly as compared to 2021. The lifting of COVID-19 restrictions in March had pushed Singtel share price to an almost 2-year high as the incoming volume of tourists should increase revenue for the Singapore Consumer business. Nonetheless, the positive effect should kick in from the new financial year onwards (Singtel’s financial year ends on March).
The coming weeks should see plenty of volatility for Singtel share price as the telco will release its full-year financial result. Based on the results of the past three quarters, the full-year result should be stellar, thereby providing a tailwind for Singtel share price. To put the icing on the cake, Singapore announced further relaxation of public health measures on 22 April 2022. Arising from this, number of tourists should spike in the coming months, providing another catalyst driver for Singtel share price.
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