SpiceJet, Jet Airways preferred picks, says Mehraboon Irani

Mehraboon Irani of Nirmal Bang Securities told CNBC-TV18, "Aviation is a sector which I have been recommending from a trading angle and even today the bias is positive, again from a trading angle. I think this is a sector in which all the companies have too much of problems in the balance sheet, barring possibly InterGlobe Aviation (IndiGo) as of now. However, at the end of it all, I think good days are here for the aviation sector. Oil prices, aviation turbine fuel (ATF) prices are under pressure, load is good and so, at the end of it all, SpiceJet and Jet Airways are my more preferred stocks." "I think they have quite some room on the upside at least from a trading angle. So, while I don’t know as to where the stocks will be maybe two years down the line, but at the end of it all, if somebody wants to buy for the next one or two quarters, I think this is a space which can end up giving you decent returns," he said.