Sep 05, 2013 05:49 PM IST | Source: CNBC-TV18

Hold Jet Airways, may test Rs 415-430: SP Tulsian

SP Tulsian of advises holding Jet Airways. "One can look for a level of Rs 415-430 by the time the Etihad deal goes through," he adds.

SP Tulsian of told CNBC-TV18, "In Jet Airways, I am banking more on the Etihad deal and the timeline which has been given by the media reports. September 20 looks to be the date by which they should be able to see that deal going through, which will be a very big positive for the company."

He further added, "You have the gray areas that open offer will come or not, but even I don't think that market is now too much playing on the open offer. However, the moment we will see the deal of Etihad going through, I am hoping that the share should be able to move to a level of Rs 415 to Rs 430."

"In respect to the increase in air fare that is because of rise in ATF prices and generally this coming quarter is always good season for the airlines because of the holidays. So they try to offset their cost and all. I am not too much enthused with the news of the price hike or maybe the fare price hike, but waiting to see the Etihad deal getting cleared, which is expected by September 20. I will advise to remain invested, look for a level of Rs 415-430 by the time the deal goes through," Tulsian said.

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