The company has managed to reduce debt consecutively for last three years bringing it down to Rs 3,560.48 crore in FY17 from Rs 5,905 crore in FY13. We expect company to achieve key milestones in railways and defence businesses, which should act as key growth drivers.” the brokerage said. SpiceJet has been another turnaround story. Looking at industry multiples, the stock is trading at a almost 40 per cent discount to other players. SpiceJet is also looking at regional connectivity, something other players are not being able to make use of.

Source: Economic Times July 24, 2017 07:40 UTC