stocks: Aviation pack is under pressure, rally seems over: Sanjiv Bhasin

Sanjiv Bhasin, India Infoline, analyses the aviation pack in view of some of the recent developments. Excerpts:

ET Now: How should one approach aviation stocks right now?

Sanjiv Bhasin: They have had a superb flight in last three months. Now they are seeing some profit booking. You have read today’s headline that Jet is cutting wages and they are under extreme pressure.

Even though volume seems strong and till the time the Air India disinvestment topic is on, there will be bouts of ups and downs. So I think because of a pullback in oil prices in the near term, there could be a slight bit of a headwind. I think they have seen strong profit booking in last week or so.

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