Moneycontrol
Mar 16, 2017 04:01 PM IST | Source: CNBC-TV18

Exit Interglobe Aviation, says Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com advises exiting Interglobe Aviation.

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "Interglobe Aviation, you did see a lot of fancy at the IPO time and since then we have seen a correction. Last week we saw some amount of positive news with this whole Delhi judgement of cutting taxes, etc. and which could affect by a couple of percentage points earnings of some of the aviation companies."

She further added, "I think another factor in favour of aviation has been the fact that crude has come off and it seems to be trending lower which will take some pressure off aviation turbine fuel. However, that said, I think that a lot of the positives are now in the price because we have seen a year plus of lower crude rates and better earnings therefore from aviation companies, etc. So, I don’t really see too much of an upside from current levels and I am not a very big fan of this sector as a whole. So, I would really recommend a switch from this sector."

Interglobe Aviation ended at Rs 878.90, up Rs 5.95, or 0.68 percent on the BSE.

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