Some upside left in SpiceJet: Devang Mehta, Anand Rathi Financial Services

Devang Mehta, Head – Equity Sales Retail, Anand Rathi Financial Services, in a chat with ET Now talks about SpiceJet.

Would you buy into the aviation space right now?

We had a fundamental buy call on SpiceJet somewhere around Rs 54-55 and it has pretty much exceeded our target but I still feel that there is some upside left for these stocks. When we see the aviation traffic number increasing day by day and the crude prices are around stable rates at this time, we feel that there can be some upside over here. Though we do not have rating on other stocks, we still like SpiceJet.

In the next series, would you expect a better performance?

Yes, I feel that market has more upside than downside. I take this correction as a technical one which is because of the F&O expiry as you are talking about tomorrow. So this correction can present one with a good opportunity to buy if one has a medium to long term horizon.