Pantaloon Retail has target of Rs 290: Rajesh Jain

Pantaloon Retail has target of Rs 290, says Rajesh Jain, Independent Mkt Strategist.

Jain told CNBC-TV18, "Pantaloon should be an interesting pick since the budget should put more disposable income in the hands of the people, improve the corporate taxation rates; write some of the evils with the real estate particularly the retailing segment and finally there is an indication that there will be some easing up of FDI in the retail space." He further added, "Pantaloon being the biggest and the best player in this space would be an easy beneficiary of that. I think an intraday target of Rs 290 is easily doable while protecting capital in the event of the downside in the market."