Trent a good defensive bet, says Irani

Irani told CNBC-TV18, “News as far as rice exporting companies go, retail sector goes I think people need to be a little bit ahead of the announcement because as and when this announcement comes you can't go and buy into the stocks because the stocks open with a gap and there is a tremendous rush to buy these stocks. So most of these stocks according to me have moved up but yes two names stand out at this, I would say Trent Retail.”

He further added, “Trent is a company which suffers from very poor liquidity but where promotes are issuing preferential shares themselves. It’s a positive and I like this company. Another name which I like is Shoppers Stop. I think one of the cleanest companies in the retail segment. As far as Pantaloon goes the stock at Rs 130-135 was a good trading buy. But having moved up to the Rs 190 level at most I see a price of around Rs 210-220 for the stock. So the large part of the news possibly is already getting discounted in most of the stock prices. But Shoppers Stop stands out with Trent at number two. Trent is a very decent company; it is not a stock which is going to attract traders interest. So this type of companies possibly can end up giving a 15-25% over a period of one year. So this is a pure defensive bet with a lovely balance sheet.”