For Tuesday, share market analysts from a few brokerages have assigned Buy/Accumulate/Hold calls on Gujarat Gas, IndiGo, Policybazaar and Bank of Baroda.
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IndiGo co-founder Rakesh Gangwal is reportedly considering purchasing a stake in rival budget carrier SpiceJet. The size of the stake is expected to be significant, and talks between Gangwal and the airline are said to be at an advanced stage. SpiceJet is currently facing financial challenges and is seeking funds due to a cash crunch. The airline has been dealing with repossession cases from lessors and has grounded a quarter of its fleet. Gangwal s potential stake purchase has led to a surge in SpiceJet s share price.
The brokerage has a “buy” rating on the stock with a fair value of Rs 3,200, implying an upside potential of nearly 29% from the current levels. So far in 2023, the stock has given 24% returns to investors and hit an all-time high of Rs 2,745.10 in July.