Investment Idea -2 Royal Airways

Royal Airways (formerly Modiluft)
This stock is recommended for short term Investment. (1-3 Months)
The company has revamped its operations and starting its low-cost no frills air services named spice jet from 23rd May on various routes. The company’s strategy is to capture the traffic on routes, which are not covered by the existing low-cost offering airlines.
The company is also planning to come up with a GDR issue to finance acquisition of aircrafts.
The stock is currently trading at Rs.65 and is expected to touch a range of 85-90 within three months primarily driven by the reorganisation of the business.
Partial profit booking at 78-80 is also recommended if the scrip touches this range within a month.
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Happy Investing!