Bearish on aviation stocks: Saurabh Mukherjea, Ambit Capital

Saurabh Mukherjea, Head of Equities, Ambit Capital, in a chat with ET Now, gives his views on aviation stocks


Is there an investment case right now in aviation because the stocks have been beaten down or would you still shy away?

We would still shy away. The levels of debt are such and the banks concern are such that we would shy away. Plus remember I do not think this has got anything to do with policy paralysis as such the challenge in the aviation sector. It is driven by over capacity in India and it is driven by global fuel prices neither of which the government can control. I have seen aviation for 20 years and across multiple countries. To make money from investing in aviation stocks you need to be a genius. Normal people, normal investors, normal analyst like me we simply find it impossible to see how someone can make money from aviation stocks.