counter saw huge trading volumes with 3.69 million shares already changing hands till 10:13 am, as compared to an average 3.66 million shares being traded daily in the past two weeks on the BSE.
The domestic brokerages remained bullish on SpiceJet
with 12-month target price in the range of Rs 172 to Rs 211 per share.
“Over half of Jet Airways’ domestic slots along with its entire international slots are yet to be allocated. If Jet shuts down, SpiceJet will be the prime beneficiary given complementary fleet portfolio. This will lead to further upside to our estimates. We expect SpiceJet to turn profitable in FY20 as yields expand while fuel costs moderate,” analysts at Edelweiss Securities said in a result update with target price of Rs 179 per share.
Analysts at Prabhudas Lilladher also remained positive on SpiceJet on the back of massive fleet expansion plan, strong yield environment post Jet’s suspended operations, prime slots at key airports, strong regional operations, codeshare with Emirates and likely return of Boeing 737 Max in July/August.
"All this will lead to ASK/Revenue & EBITDAR CAGR of 47 per cent/51 per cent & 72 per cent respectively," they said.
The brokerage firm maintains ‘buy’ rating on the stock with target price of Rs 211 per share. Abnormal increase in crude oil prices & irrational yield environment remain a key risk, it added.