Pantaloon is a contrarian buy, says PN Vijay, Portfolio Manager.
Vijay told CNBC-TV18, "If I am contrarian and I am a contrarian, I believe that the best time to- in fact the only time to buy stocks is that everybody is bearish about it, but you believe in the fundamentals of that business model."
He further added, "Now whether you like it or not, people like Pantaloon are sitting there on the main street, sitting on absolutely fantastic locations and real estate with very weak brands, globally Pantaloon is nothing. So if and when big ticket FDI comes into retail and as I said I still give it the old 80:20 chance as I was a week ago. Pantaloon and Shoppers Stop would be the biggest beneficiaries and they will be huge beneficiaries. So if you got a share - you got a 3 times upside and probably 10% downside. Now I will take it, I wouldn't take some textile mill - in rural Gujarat or something, but Pantaloon, I am sure, I will, so it's a perfect contrarian buy for me."
