Axiata dials down to attractive valuations

Year-to-date (ytd), Axiata shares are down 28%, translating to a loss of about RM10bil in market capitalisation, or from the RM4.14 it was at the year’s start.

AMONG the handful of stocks in the telecommunications circle, Axiata Group Bhd stands out because its shares have been trending southwards, touching a ten-year low of RM2.88 this week.

While prices have inched up to RM2.98 on bargain-hunting yesterday, they are trading at undemanding valuations, which were last seen during the global financial crisis of 2009.