January 16, 2021

Spicejet may attain Rs 175-180 in a yr: Rahul Sharma



Within the quick time period, the stocks has a superb potential to achieve the brand new goal ranges of Rs 125-130, says Rahul Sharma, Head of Technical Analysis, Fairness99 Advisors.

How are you analysing Spicejet and how much individuals are investing there? What sort of numbers can we count on going ahead?
Final night we acquired to know that Spicejet has partnered with OM Logistics, which is without doubt one of the largest firms in India with the intent to successfully perform the duty of transporting the temperature delicate Covid vaccine. This strategic partnership additionally created sustainable chilly chain networks each domestically and internationally and with the fleet of 17 cargo planes of Spice Xpress, the cargo will be capable to cowl a big space of the distribution with the assistance of OM Logistics as they cater to 19,000 pin codes in India.

Additionally I want to point out that just lately Spice Xpress has launched their new specialised service referred to as Spice Pharma Professional having capabilities to move extraordinarily delicate medication in managed temperatures starting from minus 40 diploma to 25 diploma Celsius. Together with all this info, because the cargo enterprise for such airways creates the next income and better margins, the inventory is able to present a recent excessive and technically additionally the charts are in favour of the rally. Although the inventory has already had an enormous run up of just about 100% from the lows within the final one month, it has a superb potential to achieve out to the brand new goal ranges of Rs 125-130 within the quick time period.

If one have been to take a 6-12 months’ view, what sort of ranges can we see in there?
The charts point out that by retaining a horizon of 1 yr, the inventory has acquired a superb potential to achieve Rs 175-180.