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THE CHAT ROOMS
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'Market is on a good wicket''The market should resume its climb post-Budget. The IT-enabled sector boom is catching on,' says Ramesh Shrichand Damani. asd : why do u think that bharti has had such a low openeing? will u recommend a buy for bharti stock? Ramesh S Damani : Hello everyone thanks for joining. Let's start. Bharti will take sometime to settle down. aesh : Mr. Damani, what is your view of the market after today's much avated correction..Around what levels you expect the strong support to come in and market to take uptrend again??Also do you see It is now time for Frontline IT stocks to participate in the upward move or you see them correcting more ?? Ramesh S Damani : Frontline IT stocks are going to remain weak due to slow growth. Market however, is on a good wicket. I expect to see higher levels post Budget. lavina : i am a 25 year old software professional adn i want to start buidling a portfolio. which stocks wld u recommend i start with? Ramesh S Damani : Look at the IT-enabled sector. IT holds a lot of promise. In tech look at product companies with interesting ideas. aesh : Mr. Damani as per your view on Tata Tea stock is doing good and been in upmove..Congrats.I missed the stock to buy around 165 rs levels last week and now it seems it has good support around 174 rs..Should I go ahead and buy around 174 rs or you think Patience can give me better value??? Ramesh S Damani : I think it will. However tea industry is still sluggish. Hold it. lavina : do u thnk vsnl is a good buy for the prevailing price? Ramesh S Damani : I think so. I own some. deepam : sir, i wanna buy an index fund? which index fund do you recommend? is idbi principal good? how much do you suggest that i should put in? what kind of returns can i expect? Ramesh S Damani : Sure. Index funds are all the same. Buy the one with the cheapest load and tracking error. anaam : Mr Damani,You are the greatest in spotting "multibaggers" Please guide us in spotting multibaggers.Which sectors to look into for spotting them? Ramesh S Damani : At the cost of being repetitive, PSU and IT-enabled. ritika : the Sensex has closed below the 3600-mark. this is so disappointing!!! :-(( Ramesh S Damani : Have patience. Market is on a good wicket. KHS : I am long term investor. Should I hold BEL and can also add BEML at the current levels?? If yes what will be the Waiting period to have handsome return? Ramesh S Damani : PSU Stocks will do well. So you should hold some of these shares. dont trade : Rameshji, again your research paid - TMT,BEML , almost giving 100 % return Ramesh S Damani : TMT had quite a move today. Good volumes. The IT-enabled sector boom is catching on. gpsd : abhaiya aima, sunilsinghania , tey alllike aztec soft how about u? Ramesh S Damani : I am not as enthusiastic about it as them. info : Damaniji, Do you think market has topped out today as pre Budget rally??Also what you think post Budget market's strong footing can put into the range of...??? Ramesh S Damani : No. Market is fine. Post Budget it should resume its climb. dont trade : At what price one should enter CONCOR and CRISIL , is it worth buying Ramesh S Damani : Both look good at current rates. I like them both and own them. aesh : Rameshji, Do you track nasdaq ??If yes how it looks to you in the near term .. Ramesh S Damani : I think we are beginning to delink from Nasdaq. dont trade : What is your report on Kale / Compudyne winfosys Ramesh S Damani : I bought some of both companies recently on a trading call. They are in the IT-enabled space as i define them. Research is still going on. alokr : shares like like Concor, BPCL and HPCL are met with heavy selling pressure during last few days! do u think they are likely to go sown further? at what prices one shd buy them? Ramesh S Damani : Current rates are good entry points. info : In the psu segment there is a lot of rise latey so please advise which one you specially looking for so as small investors here don't end up burning their hands by selecting wrong breed of psus and cry for long time.. Ramesh S Damani : Look at companies doing good business like Concor etc. MOHAN : In Pharma Reddys & Ranbaxy which scrip is better Ramesh S Damani : I prefer Dr Reddy. gpsd : WHEN WILL THE RALLY COME IN SOFTWARE STOCKS Ramesh S Damani : If it comes only post Infy results. dont trade : Will CONCOR/CRISIL will be divested Ramesh S Damani : Concor yes. Crisil is owned by institutions not government. Anand : Sir do u expect any good news for the Agro business Ramesh S Damani : That is what the press is suggesting. alokr : which one would u prefer to buy at current rates, pls. assign order - HPCL, cONCOR, bpcl Ramesh S Damani : Concor, BPCL, HPCL at current rates. Anand : Sir can we buy Monsanto,Aventies for 6 month horizon...... Specially for Monsanto after good qrt. Result? Ramesh S Damani : I like Monsanto and own it at current levels. info : Damaniji as No. of your true believers are increasing here( and I think you have earned the place in our heart by never misleading about the market orscripts)..Sir Isn't it advisable to wait for the Budget now instead of buying now??as any negative feeling in the Budget can give a sharp fall too?? Ramesh S Damani : Thanks. I try to be honest in my assesment of stocks. Generally it is hard to judge these things. I think we are on a good wicket in a market that favours stock pickers. Hence pick stocks and don't worry about the index. anaam : If Reliance Petro is going to buy to buy either of HPCL or BPCL,why not buy buy Reliance Petro?(Keeping in mind that they have a third alternative to put up their own chains) Ramesh S Damani : I think if the bidding gets too heavy for BPCL and HPCL, they will put up their own stations. Reliance Petro is expensive in terms of market cap. dont trade : Sir would you still advise to buy E-serve Ramesh S Damani : If you are taking a two year view, yes. aks : sir should be buy Engineers india at current price 170 Ramesh S Damani : I would wait. info : Do you see our economy ..specially indusrial segment start putting better growth nos..then what it has been showing last 2-3 years??If yes then which companies in these segments you think are worth giving a look into?? Ramesh S Damani : I have seen no evidence of growth coming. Anand : Sir Any take on Tata Elxsi, Tata Telecom & Tata Infotech?Should we buy Anything from these three...... Ramesh S Damani : They should all do well. I trade them off and on. chacha : Where do u see indian economy after the end of 2002? Ramesh S Damani : I see a big boom in IT-enabled sector over 3-5 years years. alokr : After prolonged sideways movement, Geometric Software looked like breaking out today, but it lost alomost it's entire gains and closed only one percent higher, but volumes were gr8. Do u think on charts, it's a ripe candidate for a break-out on the upper side? Ramesh S Damani : Geoemtric is moving well. This move is just market noise. I like this share a lot. I own some. anaam : Nalco Chemicals is divesifying into new innovative line & the management controls 80%.Is it worth looking into? Ramesh S Damani : Somehow the company has not delivered. I have held shares for years without appreciation. alokr : Ramesh, u said in tech sector one should buy product companies with interesting ideas! can u site few such companies? Ramesh S Damani : I own a very small quantity of Subex. They seem to be having some success. gpsd : WHY ARE U BEARIS ON SOFTWARE STOCKS Ramesh S Damani : Poor growth. Remember market only pays for growth. dont trade : do u still feel it is good to invest in Karur Vysya Bank at current rates Ramesh S Damani : I own some. IT is a good stock and a good take over candidate. anaam : If there is so much talk about IT enabled,Why other cos like NIIT & SSI not going into that sector? Ramesh S Damani : They will. They are behind the curve. alokr : after touching a high of 53 volumes in compudyne have dried up to 30-40 thousand and the scrip has sunk to 37-38 levels. do u think one should buy aggresively at current levels? Ramesh S Damani : Yes but be patinet. It is still an immature stock and will take 6-12 monts to settle down. aesh : Sirji As Defense allocation this year is likely to be more Do you sugggest Buying BEL ( the Only Listed Defense products company)even around 130 rs ( present level) is vertually a risk free stock picking??Also do you see script crossing 150 rs. top it made currently after the Budget??? Ramesh S Damani : I think so. I like it a lot. wiz : Mr.Damani...BEML at Rs 90 and CONCOR at Rs 350 in the near future. What do you think? Ramesh S Damani : It would make me happy. However BEML at Rs 90 would happen on a divestment call only. anaam : Tata Elxsi has projected a 100 % growth in coming years and they are shifting from their current line of business into newer ideas. Is there a chace that they foray into BOP? Ramesh S Damani : You mean BPO. From here do you get the 100% projection. wiz : any suggestions on Private Sector Banks since the new FDI Norms?what do you think 'bout Centurion & Vyasa? Ramesh S Damani : Both will do well. I own HDFC Bank and Karur Vyasa. Anand : Anything on CMC .......... Any Chances that it is going to merge with TCS .....? Ramesh S Damani : Not in the near future. aesh : Sir There is one other person ( of course other one is you)I admire of picking good quality stock ..According to him South India bank is a great candidate for Buying out by some big player and thinks good appreciation of the stock prise..Also div. last year 25 % and eps of around 12 rs.to go with it..and prise is around 37-38 rs...Your view?? Ramesh S Damani : I dont follow the company. It looks good the way you describe it. alokr : yr price target for Hinduja TMT? When would u go for booking partial profits? Ramesh S Damani : I like the sector. Like the company. Why set price targets? Let the market decide. wiz : Sir, yr. opinion on Dredging please. Ramesh S Damani : Good for divestment. You should get a dividend. Not an exciting business. Low PE always. Anand : Than Should we sell CMC or any thing positive you r Expecting..... or to convert it into E.serve or Geometric? Ramesh S Damani : I would own all three. alokr : Ur views on BASF - shd one buy at current prices? The scrip looks great on the charts! Ramesh S Damani : Not looked at it recently. Thanks for joining. See you all next week.Bye | |