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THE CHAT ROOMS
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'Market will test your conviction''There are no free lunches in financial markets. You have to take your chances. If you have a sector leader, sell it when the bull market ends,' says Ramesh Shrichand Damani.
Anil : Hi Ramesh, I would like to know about the prospects of IT&T and Karur Vysya Bank. Also would like to know about any new ITES stories in the offing ? raju : Namaste ramesh, pls suggest some PSU picks - central & state - which have the potential of doubling in the next three months Ramesh S Damani : I dont know about doubling but BEL, COncor and Punjab Tractors are good. I own the first two. ayanshah : Rameshji Good Afternoon...How do you see today's fall? A start of a dull test match or just a bad one day match?(Well, I still am Cricket fan though world cup foot ball is on)...Any stocks you like us to watch more closely as some drop can give great buying opportunity in them Ramesh S Damani : it was a disappointing day.The fall maybe due to UTI selling and lack of FII buying. Tech seems to be in the most trouble Naveen : I had positions in following stocks:SAIL, Reliance Petrol, BOI, BHEL, L&T, skf Bearing, Apollo Hospital, Macmillan, Bharti Telecom. Please suggest from which I should get out Ramesh S Damani : I am not particularly bullish on Rel Petro, bharti Naveen : Hi ramesh, I am reading your transcript from long time but coming to live chat first time Ramesh S Damani : Thanks for reading them. Pls do join in when you can alok : Sir, two good stocks...Geometric & Infotech Enterprise dropped considerably. should we consider this as buying opportunity or is there a cause of worry? Ramesh S Damani : I wpould consider it a buying op. IT Enabled is going to be big. That is my conviction abhay : Sir,is bel still a good buy at this price Ramesh S Damani : Yes alok : Sir, results of CMC & Appolo Hospital are out. Please interpret the results for us. thanks Ramesh S Damani : Both are okay and can be held. CMC is hard to analyse Q on Q. Also GOI stake is keeping pressure to keep profits low, perhaps. br : hi ramesh, please sugest for macdowell and macmilan Ramesh S Damani : I like both of them. Mcmillan is a good stock. Mcdowell is a great value buy malibudude : Welcome back Ramesh. How was ur trip to South cal? Where do u see the markets heading since FII's turned sellers? Ramesh S Damani : It was fine. Thanks. Technically the market remains bullish. However I am having a hard time coming up with new ideas. radical : Is Geometric Software worth buying at today's rate ? Ramesh S Damani : Finally! I think so. Mgmt is doing a lot of things right. Great Op. LOTBM : Dear Rameshji...what is happening to TECH and BPO stocks in the market?? Ramesh S Damani : I am going to check with my pal at D broking if there is any selling in these counters. Did U see MC-Nasscom report. 24 Billion $ Op in ITES. Makes my mouth water. jennifer : DEAR RAMESH,IS HINDUJA TMT BETTER OR GEOMETRIC FROM A 3 MONTHS PERSPECTIVE Ramesh S Damani : For 3 months HTMT. However it carries greater risk wagerer : Do u foresee GAIL/HLL going up in the near future ?. Ramesh S Damani : No specific news abhay : Sir, i am not getting e serve on the online trading. can you suggest how to buy it Ramesh S Damani : Ask a regular broker mohan : In medical transcription business which company is best? Ramesh S Damani : Among the listed co's Max through sub called Healthscribe Joy : Good Afternoon Rameshji. Do you feel any of these state PSU worthy: Gujarat Industrial Power Corporation, Gujarat Narmada Fertiliser Corporation, Gujarat State Fertiliser Corporation, Punjab Tractors, Punjab Alkali,Tamil Nadu Newsprint Ltd and Tamil Nadu Telecom, Mysore Lamps, Meltron, Optel Telecommunications, IDCOL Cement Ltd and Kalinga Studio Ltd. and SAIL.Regards. Ramesh S Damani : I think the Guj basket looks the most promising. Punjab tractors will do well. I havent bought anythough. tigershark : Have you noticed a trend today market lost 40 points but 400 odd small cap co hit new highs where should we be investing and do you like asian electronics? what does it do Ramesh S Damani : yes new highs breadth have been good. Asian ELect supplies to SEB. THat is all I said. No personal call on it. LOTBM : RAMESH...WHAT WEIGHTAGE SHOULD I GIVE TO SPECIFIC INDUSTRIES IF I WANT TO BUILD A PORTFOLIO TODAY??? Ramesh S Damani : if you are aggressive and young put 40%-50% on ITES. That is the sector of the future jennifer : LOTBM SAYS GEOMETRIC WILL TOUCH RS 1100 IN 3 MONTHS. ANYTHING TO ADD? Ramesh S Damani : that is more aggressive than my projections. I would be estactic if that would happen though tigershark : Why is somebody persistingly selling e-serve at 550levels for the couple of weeks? Is there something wrong with the results and ites Ramesh S Damani : Volumes are very poor so i am not worrying, wagerer : Would you recommend holding Tata Power for another 2 month? Ramesh S Damani : sure jennifer : WHAT IS YOUR PROJECTION ON GEOMETRIC Ramesh S Damani : Its market cap is still only 250 crs or $50 million. If the call on ITES is correct this is just the start malibudude : Ramesh, Hinduja mgmt is saying they are in film finance as well, do U think still it's a good bet? Which company/ies do u think will be a leader in digital economy? Ramesh S Damani : I am partial to e-serve.This could be the big kid on the block rajrdharma : Rameshji, Is karurVyasa bank a buy at 450? Ramesh S Damani : looks okay. I still hold it ritu : Dear Ramesh, how are u? what is yr view abt SBI? I bought two lot futures around 222 going by your advice! now what do u say? Shd i book profit or it looks-like breaking the technical barrier of 260 this time? Ramesh S Damani : Hard to estimate the time. However it will be higher. I remian bullish anandbhatt : Dear Sir, Hello. Do you suggest buying MAx and Eserve now or after the results. If one waits for the result sthey might shoot up after the results. WHat would be your advise? Ramesh S Damani : i tend to buy after results.THe scrips have run up. Let us see and decide. sujatha : What is the target of neyveli Ramesh S Damani : It looks well at current prices Joy : Thank you Sir. you mentioned many times your passion towards ITES. But it is said that always buy stocks with low valuation ...I own MAX, IT@T in your advice. Apart from Macmillan can you identify very cheap stocks in this sector? Another thing savvy investors(like Buffet) advice buy those that you can hold for the lifetime. Could you please clarify? Small investor like me should not wait too much. My age is 28. Thanks in advance again. Ramesh S Damani : Low valuation is relative. If you believe that India can do 24 Billion in ITES I dont see any reason to worry. Of course if war breaks out all bets are off. Investing is a game of patience and there are very few co's you can hold for a lifetime ritu : What's yr opinion abt CMC and E-serve? I have four hundred E-serve and no CMC? Do u recommend a switch from E-serve to CMC atleast partially? Ramesh S Damani : I would stick to e-serve. malibudude : But that citigroup is an investor is n no of companies. DO u feel they reward the small investor? Any other company with honest mgmt say like infy? Ramesh S Damani : I have no reson to be upset with them. THey are doing well and I am hopeful ayanshah : Rameshji, Gati and Macmillan both good scripts have been very quiet for last few months? Any developemts? Ramesh S Damani : Nothing new. I continue to like both BASANTM : WHat is the fear in the IT enabled counters? Ramesh S Damani : Stocks correct from time to time jennifer : DEAR RAMESH, THANKS FOR YOU SUPPORT . AM CONFUSED? should i buy hindujatmt for the short term with a price target of rs.1000 and macmillan for the long term and with what target in mind? Ramesh S Damani : 1000 is too ambitious in the shore run for HTMT, Mcmillan is good investment tigershark : There is a difference in bpo and call centers although both are classified under ites pleas explain the diff Ramesh S Damani : BPO includes transcription, data processing, digitisation, call centres etc. IT is a broad term. Also interchangeable with ITES ravi : Sir, what is your opinion on kale consultants. it is in ITES space and the company also projected a very high growth Ramesh S Damani : I am following it. Just bought a small amount, keep an eye on it ayanshah : Rameshji what is the report on Monsoon front?A s good one can be the trigger in offing? Also do you see early signs of economical revival here? Ramesh S Damani : ther is some evidence of the economy reviving. Tax collection, market are indicating that. punit : sir how about vakrangee Ramesh S Damani : dont follow it anandbhatt : Sir,whats the latest news on TVS electronics. CAn I buy at these levels? Ramesh S Damani : counter still seems weak. LEts watch it. CO is on track though ritu : Have u seen the results of Apollo Hospitals? The counter has come down considerably, do u recommend adding more around current prices? Any reasons for squeeze in the margins? Ramesh S Damani : looks okay. They will do well and you should remain invested in it. I have not seen the tombstone yet VINAY : DO YOU OWN MELSTAR? Ramesh S Damani : a small amt wagerer : Wot do u think about Penta Media? Do you think its worth holding ? What price do u think it could go up 2 ?. - 10th time .... Ramesh S Damani : i am not bullish on it. sbn : Sir thodasa yaha bhi dhyan dijiye. You feel EXCEL IND is good buy at this level? Ramesh S Damani : sorry dont follow it. harip : How do u feel about Ashok Ley..? Ramesh S Damani : i like its prospects. BASANT : ANy Bank stocks to enter Please advise???? I am sorry to repeat the question Ramesh S Damani : sbi and karur tigershark : how do yu visualise geometrics june 2002 quarter. management had said there will be some exit this quarter on account of ramping up of business Ramesh S Damani : growth will be slow in Q1 and Q2. By Q3 and Q4 they should be pumping. Margins will be under pressure in Q1 & Q2. It remains a good bet. abhay : I am requesting third time. Pl advice some good petrochemical scrips. Ramesh S Damani : i dont follow petro chemicals. ritu : have u spotted any good Auto-anicillary buys, something with low equity and good growth prospects? Ramesh S Damani : i bought some Laxmi Auto Components Joy : In India now most of the companies are going in the right track after globalisation(like PSU banks,etc etc) Then why unemployment and Poverty is so accurate? will the separation between India and Bharat is going to broaden?When states like Bihar, UP, Kerala, Assam are languishing, do you think Maharastra,Gujrat,AP etc can bring cheers? Ramesh S Damani : mainly due to endemic corruption. Our ruling classes have let us down. I thinks south will overtake North India. North doesnt get it. malibudude : Ramesh, Given a choice which one u pick bet Geometric and e-serve? Rakesh seems to extremly bullish on geometric. Ramesh S Damani : i own alot more of e-serve so i am more bullish on it. Geometric will do well. ayanshah : Rameshji How about Escorts? Isn't that a gr8 value buy around 60 rs? Ramesh S Damani : it looks good to me at current rates. I trade in it., jennifer : can u recommend a portfolio from scratch Ramesh S Damani : From scratch 50% IT Enabled. THe rest you can pick. Put 5%in Mc Dowell. It is like a warrant. Great value punit : WHAT IS THE FLAVOUR OF THE MONTH Ramesh S Damani : clearly steel and banking amit : Dear Mr Damani, It seems for the time being "Mr Damani" is in shadow....Lot of old economy stocks like Indo Gulf/Century/Arvind/sesa goa etc moving. Any investment opportunity in these "old" sector? Ramesh S Damani : i agree. Old economy is not my strong suit. THough PSU stocks were in old economy like beml and bel jennifer : do u think i should short geometric tommorrow Ramesh S Damani : shorting is for the professional vijay : damani sir i bought max ind at 144 levels on your advice(no complaints). should i hold it? it seems to have a high p/e multiple Ramesh S Damani : i would hold it, VINAY : HAVE YOU BOUGHT ANY THING IN PAST 15DAYS????? Ramesh S Damani : some mcdowell and Ashok leyland anilutt : Hi Ramesh, Whats the oulook on STC? Does it look very expensive at present levels (P/E = 50+) ?? Ramesh S Damani : its trading at disinvestment value not PE VINAY : CAN I BUY MAX, MCDOWELL , A.LEY, GEO,HTMT, MELSTAR AT CURRENT PRICES???? Ramesh S Damani : as an investor sure. Tmt looks a bit streched ayanshah : Rameshji Do you think very soon the excitement will be back in Mr. Damani's visionary stocks as lot of them are slowly but steadily eroding their prices and as I see lot of your fans here are little worried .... Ramesh S Damani : conviction is essentail to good investing. You have to take your chances. Remember there are no free lunches in financial markets. Market will test your conviction to the utmost. ritu : Did u see CMC results? why has the company fared so poorly, though it forcasted to double its margins and being a Tata concern it was natural for us to believe that they would meet projections. How do u see it faring in coming days, shd one get out of the counter? Ramesh S Damani : it has done alright. Margins will double next year they said. Not this year. However it looks it will take longer. harip : Ramesh, I am pretty good in identifying the scrips at their bottoms, like I bought Infotech Enterprises at 60/ and odd. But the problem I can't identify the tops. Please don't tell me that it is common problem. Please let me know if you have a way of identifying it. Or your way of identifying it...Thanks Ramesh S Damani : if you have a sector leader sell it when the bull market ends. Most people have a good feel for that but dont beleive it. Get complacent. Me included. LEaders must be held till the bull market is over. ritu : today, some of the pet ITES counters such as Geometric and Infotecent were under great selling pressure? Any specific reasons as such? Was it RJ's selling? Ramesh S Damani : Markets are bigger than any individual. IF the story is right any amount of selling gets absorbed.Thanks for joining., See you next week. Bye. | |