Limited downside seen in SpiceJet and Jet Airways , says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "If FDI is permitted in aviation sector that can only encourage or excite any fundamental analysts to take a positive call on this sector and as you know you are right, Jet Airways used to rule at Rs 900 plus and obviously if it is at Rs 180 and all other stocks have corrected on the similar line."
He further added, "If one need to take a call on this sector one can really say that it looks that the stocks have bottomed out because you don't see a further fall happening from here on whether you take the Kingfisher, Spice Jet or Jet Airways because in case of Kingfisher also I think there are serious attempts by the management or the promoters to bring back the company on track. In fact they have been saying that by March 2012 they should be able to liquidate all the outstanding and all sort of things. So serious efforts are made by the other players as well. So one can say that stocks are not seeing much downside from here on but definitely if one is expecting a return of close to about 20-25% which I don't think is really bad considering the pessimism or the low expectations prevailing for 2012. One can always take a call on the aviation sector at the current levels."
