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Buy Spicejet, target price Rs 98: Yes Securities


Yes Securities has buy call on with a target price of Rs 98. The current market price of Spicejet Ltd. is Rs 84.55.

Time period given by analyst is Intra Day when Spicejet Ltd. price can reach defined target. .

Spicejet Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 5078.72 Crore) operating in Airlines sector.



Spicejet Ltd. key Products/Revenue Segments include Income (Airlines), Cargo Income and Other Operating Revenue for the year ending 31-Mar-2020.

Financials

For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1532.52 Crore, up 18.34 % from last quarter Total Income of Rs 1294.99 Crore and up 16.40 % from last year same quarter Total Income of Rs 1316.60 Crore. Company reported net profit after tax of Rs -570.56 Crore in latest quarter.

Investment Rationale
The stock has broken out of the neckline of an Ascending Triangle pattern on extremely high volumes suggesting bullishness. Further, RSI has also moved above the 60 – level confirming strong upside momentum.

Promoter/FII Holdings
Promoters held 59.46 per cent stake in the company as of 30-Sep-2021, while FIIs owned 1.18 per cent, DIIs 1.02 per cent.

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