Wednesday, October 10, 2018

Recent Buy - British Telecom (BT PLC)

Bought additional 1200 shares of BT PLC @ GBP 2.276 yesterday.

This purchase brought my total holdings to 1780 shares with average price of GBP @ 2.837. At GBP 2.276 and the last dividend of GBP 0.1540, it gave a yield of 6.766%. It was trading around 11.2-11.3x PE. On 5th October, David Einhorn said "BT Group shares were cheap" according to CNBC news on 5th October. Link to news here.

On a bigger picture, I observed that telecommunication sector seemed to strengthen as a whole. This might just be a rotational play as this sector was battered rather badly recently, OR it could be smart money switching to defensive play in preparation for blood on the street. My view is more inclined towards the later.

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