Singtel - DBS Research 2026-03-23: Too Narrow Holding Company Discount?

• Singtel's share price is up over 51% in the last 12-months with almost half of the gains from a reduction in Holding Company (HoldCo) discount and the rest from a rise in market value of associates and a re-rating of the core business

HoldCo discount has narrowed to an 8-year low of 7% due to divergence between Bharti Airtel and Singtel’s share price.

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -

Potential 6-month delay in tariff-hike in India could lead to Bharti share price being range-bound.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Previous report by DBS:
2025-12-11 Singtel - Will The Rally Continue Or Fizzle In 2026?.

Price targets by 4 other brokers at Singtel Target Prices.

Listing of research reports at Singtel Analyst Reports.

Relevant links:
Singtel Share Price History,
Singtel Announcements,
Singtel Dividend Payout Dates & Corporate Actions,
Singtel News