{"id":15207,"date":"2012-06-12T14:27:22","date_gmt":"2012-06-12T12:27:22","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=15207"},"modified":"2012-06-12T16:46:17","modified_gmt":"2012-06-12T14:46:17","slug":"telkom-rallies-on-bargain-hunting","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/15207\/telkom-rallies-on-bargain-hunting\/","title":{"rendered":"Telkom rallies on bargain hunting"},"content":{"rendered":"

Telkom\u2019s<\/a> shares rallied on the JSE<\/a> on Tuesday (12 June), adding more than 4% in afternoon trade amid bargain hunting.<\/p>\n

Telkom gained 79 cents or 4.13% to R19.90 by14:00 local time, recovering a large portion of the 6% it lost on Monday.<\/p>\n

The group has lost almost 45% of its share price from a year ago, trading at R36 over the same period in June 2011, while its market cap has slumped to just over R10 billion.<\/p>\n

The All Share Index traded 0.18% higher to 33,677 points.<\/p>\n

\u201cWe are seeing some bargain hunting taking place. News also came through yesterday that Telkom will be dropped from Satrix<\/a> DIVI portfolio, and as a result, shares in the group took a pummelling,\u201d a local trader told BusinessTech.<\/p>\n

The Satrix DIVI portfolio invests in the FTSE\/JSE Dividend Plus Index and consists of 30 companies, selected from the JSE Top 40 and Mid-Cap indices, that are expected to pay the best normal dividends over the forthcoming year.<\/p>\n

On Friday, Telkom reported a decline in operating revenue to R33.1 billion, for the year ended March 2012.<\/p>\n

Headline profit for the year fell 32.8% to R1.658 billion, while profit after tax for the year declined 93% to R179 million.<\/p>\n

Earnings before interest, taxes, depreciation, and amortization (EBITDA)<\/a> of R8.5 billion, declined 8.8% and group EBITDA margin decreased to 25.8% from 28.1%.<\/p>\n

Headline earnings per share decreased 33.0% to 324.7 cents per share and basic earnings per share decreased 97.8% to 10.4 cents.<\/p>\n

The group decided against a dividend declaration in respect of the financial year\u00a0ended 31 March 2012.<\/p>\n

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KT Corp block horrendously, stupendously, horrifically bad<\/a><\/strong><\/p>\n

Telkom deal with KT Corp not off the table: PIC<\/a><\/strong><\/p>\n

Telkom shares tank on KT Corp deal block<\/a><\/strong><\/p>\n

Telkom, Korea Telecom transaction not going ahead<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Telkom\u2019s shares rallied on the JSE on Tuesday, adding more than 4% in afternoon trade amid bargain hunting.<\/p>\n","protected":false},"author":9,"featured_media":7507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[26,175,3126,65],"class_list":["post-15207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-headline","tag-jse","tag-satrix-divi","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=15207"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15207\/revisions"}],"predecessor-version":[{"id":15221,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15207\/revisions\/15221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/7507"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=15207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=15207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=15207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}