Bharti Airtel, which Singtel owns around 29% of a stake in, is one of the two largest telecom operators in India. Alongside its peer Jio, both companies raised their tariffs for the first time in three years, aiming to begin recouping the billions poured into 5G technology over the last two years.
Analysts from Maybank Securities and DBS Group Research have kept their “buy” calls on Singapore Telecommunications (SGX:Z74
) (Singtel), after its subsidiary Bharti Airtel announced that it is raising tariffs by 10% - 21% for all its prepaid and postpaid users on July 3.
Maybank’s analyst Hussaini Saifee raised his target price for Singtel to $3.40 from $3.24, on the back of higher Bharti Airtel valuation, and the DBS team has left its target price unchanged at $3.50.
