Real-time Stock quotes, portfolio, LIVE TV and more.
Sharmila Joshi of Asit C Mehta is of the view that one should hold Kingfisher Airlines at current level. Domestic traffic is likely to pick up.
Joshi told CNBC-TV18, "The decline in crude prices is the most significant thing for an airline like Kingfisher Airlines because we did see crude at USD 140/bbl, the way prices have gone up and the way most of these airline companies were bleeding, but things are certainly looking better for them from that sense and now the have the JV with Jet Airways where they are trying to rationalize their flights. So a lot of the negatives are already in the price."
She further added, "One negative would be the travel advisory that could have come in the last couple of days but to that extent, Kingfisher, because it doesn’t have so much of international exposure and is insulated from that so for the moment the stock would be hold because I think that and as I said a lot of things are waiting to happen and if any of them do happen then you would see numbers starting to get better from the airlines and you would see air fares coming down, pick up in domestic travel again. So my call would really be to hold the stock for now."
May 21 2013, 13:56
- in Results Boardroom
May 21 2013, 11:05
- in MARKET OUTLOOK