Aviation companies' stocks have been boosted in trade today as the Directorate General of Civil Aviation has allowed airlines to operate them at 80percent of pre-Covid 19 capacity.
Reacting to the development, IRCTC stock price have rallied 16 percent. This has come as Moderna Vaccine Results has improved sentiment in travel-related stocks. Also, InterGlobe today surged 5percent while SpiceJet jumped 9percent. At the same time, Ventura Securities has given a target price of Rs. 2000 on the PSU stock.
"IRCTC enjoys a competitive edge in its pricing of packaged drinking water and its e-catering services enjoy strong growth prospects given that customer preferences are shifting towards food aggregators and cloud kitchen services. The recent encouraging announcement of a breakthrough in the production of a Covid-19 vaccine raises hopes that normalcy should return sooner than later. While the FY21 performance will be impacted, we expect a strong pick-up in FY22/23," the brokerage said.
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