INSIDE INVESTOR: Telstra's rise to stock market stardom

The one time ugly duckling of the market has turned itself into a swan in investors' eyes, delivering yields that outdo bank term deposits.

Talking of turnarounds, who on earth would have thought that Telstra would ever achieve the status of stockmarket darling. But the top telco, after almost a decade in the doghouse, was one of the star stockmarket performers of 2012.

Where it once was a company dogged by declining revenues on its old copper line network and with a profit strategy that revolved around cutting costs, last year saw it emerge as a corporation that actually had a goal that involved growth.

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