Which are the four hot NZX-listed telecom stocks?

Summary

  • The telecom sector plays a crucial role in the growth, development, as well as the security of the nation.
  • Chorus provides Q4 FY21 connections update with fibre broadband connections rising by 29K.
  • Spark New Zealand to unveil its FY21 results towards the middle of August 2021.

The telecommunications industry has become an essential element in the advancement of a country. The telecom sector provides the vital infrastructure like the internet, cables, phones, wires or even wireless, etc., necessary for communication in this modern, digital, and high-tech world.

Apart from satiating the fundamental need of staying in touch with the family and loved ones, and facilitating online education during the times of the coronavirus pandemic, the telecom sector is transforming the business world through its operational efficiency and is crucial for the national security.

As per reports, in 2020, New Zealand witnessed NZ$1.6 billion worth of investment in its telecommunications sector.

Read: Lens On NZ’s Telecom Sector And Future Ahead

With this backdrop, let us glance through the top NZX telecom stocks, which are under the spotlight.

Source: Copyright © 2021 Kalkine Media

Chorus Limited (NZX:CNU; ASX:CNU)

Chorus Limited is NZ’s famous phone and broadband service provider, offering more than 1.5 million broadband connections across the nation. In its recently released Q4 FY21 overview, the fibre broadband connections grew by 29K, i.e., from 64% to 65%, with the strongest quarterly fibre proliferation observed in regions pertaining to Queenstown and Wellington-Kapiti.

Also, as per market reports, small retailers continue to expand broadband market share.

However, a drop by 44K was witnessed in the copper broadband and voice connections in the quarter.

On 2 August, at the closing bell, Chorus gained 0.89% at NZ$6.215.

Must Read: Which are the top four telecom companies in New Zealand?  

Spark New Zealand Limited (NZX:SPK; ASX:SPK)

Being the country’s largest provider of telecommunications and digital services, Spark New Zealand Limited has recently unveiled ‘Unplan Metro', its new uncapped wireless broadband product, thus delivering uncapped connectivity to about 1.2 million Kiwi households.

The Company will publish its FY21 results on 18 August. Investors and analysts are welcome to join the teleconference as SPK’s top brass would discuss the Company’s full-year trading results.

At the market close on 2 August, Spark New Zealand rose by 0.53% at NZ$4.760.

Do Read: Here’s a glance at the top 10 NZX 50-listed companies

Vital Limited (NZX:VTL)

Another leading telecom company is Vital Limited, which aims to provide uninterrupted, seamless as well as absolute coverage across the Kiwi land.

To move ahead in his professional career, VTL’s Sales & Marketing Head, Phil Henderson, exited the Company in June 2021. In the meantime, Andrew Miller, its CEO, has taken charge of the sales division.

The shares of Vital declined by 2.60% at NZ$0.750, on 2 August, at the end of the market session.

Related read: What are the top tech stocks in New Zealand?

Infratil Limited (NZX:IFT; ASX:IFT)

Topping the list is Infratil Limited, which also provides key telecommunication networks and owns a 49.9% stake in Vodafone NZ. It is pointed out that about 80% of rural Aotearoa has access to the Vodafone NZ network.

The Company has scheduled its Annual Meeting for 19 August, which can be attended both in person as well as virtually.

Resolutions are intended to be passed for re-electing Mark Tume and Paul Gough as well as electing Jason Boyes as directors of IFT.

At the closing bell, Infratil climbed by 0.14%, at NZ$7.320, as on 2 August.

Interesting Read: Why These Are the 5 Most Talked-About Stocks On NZX- PFI, ARG, IFT, VGL, KFL

Comment


Disclaimer

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK