Analysts wary of IndiGo, SpiceJet despite Covid vaccine news, prefer IRCTC

Stock of IRCTC, the company that has been carrying passengers even during lockdown, advanced 6.9 per cent on the BSE to hit an intra-day high of Rs 1,404 on the BSE

Travel-related stocks, InterGlobe Aviation, SpiceJet, and IRCTC, jumped at the bourses on Tuesday after Pfizer Inc said its experimental Covid-19 vaccine was more than 90 per cent effective based on initial trial results, giving hopes that global economies may soon return to normalcy.

Pfizer and its German partner BioNTech SE said they had so far found no serious safety concerns and expected to seek US authorization this month for emergency use of the vaccine, raising the possibility of a regulatory decision as soon as December. If granted, the companies estimate they can roll out up to 50 million doses this