Shares of InterGlobe Aviation
came under pressure after media reports said that the global brokerage firm Credit Suisse cut the target price from Rs1,850 from Rs1,900.
Shares of SpiceJet
gained after HSBC upgraded the stock to buy from hold, but cut the target price to Rs110 from Rs115. The global financial management firm cut SpiceJet's FY20 forecast sharply following softness in yield, as per media reports.
"We forecast a net loss of Rs48.4cr from a profit of Rs360cr. For FY21, we cut the forecast to Rs310cr from Rs390cr and believe the path to recovery looks clearer hereon," HSBC said.
Interglobe Aviation Ltd is currently trading at Rs1,420.80 down by Rs23.5 or 1.63% from its previous closing of Rs1,444.30 on the BSE. The scrip opened at Rs1,441 and has touched a high and low of Rs1,441 and Rs1,413 respectively.
SpiceJet Ltd is currently trading at Rs87.30 up by Rs0.7 or 0.81% from its previous closing of Rs86.60 on the BSE. The scrip opened at Rs87.70 and has touched a high and low of Rs88.55 and Rs86.80 respectively.