Market Watch: Amnish Aggarwal, Dir-Instl Research, PL Cap
Interglobe Aviation
Interglobe Aviation has been doing quite well. If you look at the last few quarters, the numbers have been particularly good. It is operating at, say, around 86% utilisation and now the crude prices are also benign. So that is also going to benefit, and moreover, the kind of market share it is having in the Indian market, which is one of the fastest growing markets globally, that makes InterGlobe Aviation currently sitting in a very sweet spot, at least in the near to medium term, is concerns.

Now the promoters have been selling the stake, and it is something which is not new. But every time the stock is being lamped up by institutions, if you look at last couple of years, the stock has also got re-rated it used earlier trade at six to seven times, EV to EBIDA but now that has gone into a double digit around say  11 times out. But looking at the prospects of travel, tourism and the aviation sector in India, over the medium term, we remain constructive on this name.

Spicejet
Spicejet is more like you see time and again it has been raising the funding, but somehow the expected turnaround is not happening, and that is where then the investors patience also goes out.

Now given the prospects, one would have expected that Spicejet should turn around at some point of time, but somehow, I think we are not able to bubble up the kind of efficiencies which are requiring. It is better to stay with the leader rather than to continue, you can say expecting a turnaround in a name, which has not happened in the near to medium term.