Exit Jet Airways on rally: Phani Sekhar

One can exit Jet Airways on rally, says Phani Sekhar of Angel Broking.

Sekhar told CNBC-TV18, "Jet Airways is clearly avoid because the run up in the price was based on the frenzy of the deal happening. As an investor it is almost always a very bad idea to be chasing the deal frenzy and the prices thereon. So, now some of the investors are learning the hard way.”
He further added, “From a longer term perspective however the fundamentals don’t support the valuations that these companies are quoting at. With the entry of new airlines the competition is only going to increase and even the existing airlines are quarreling with each other in form of very competitive air fares. So, all this doesn’t portent a very happy picture for Jet Airways investors. A good idea for the investor is to maybe wait for some rally to get out of or even at these levels one can just book losses."