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THE CHAT ROOMS
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'Excessive speculation and outstandings caused crisis'Ramesh S Damani advises the small investor to be careful with money and do his own research.
Sonali : Namaste Rameshji arnav : Will Calcutta stock exchange close down? Ramesh S. Damani : It will become like Pune or Baroda. Exist in name only. Things don't close down in India. harish : ARE WE IN A BEAR MARKET? Ramesh S. Damani : Yes. Bear Market is 13 month old. sanjayg28 : how much times it will take to come in bull market Ramesh S. Damani : Typical bull markets run 1-2 years. However they can run upto 10-12 years. However the Indian economy is doing reasonably well sanjayg28 : some scripts where we can invest Ramesh S. Damani : I recently bought trading positions in Geometric Software, Sonata and Onward Technologies. Purely for trading Prasad : what is your opinion about IT project in India? Ramesh S. Damani : Optimistic Ashish : today we had purchased Hfcl & Global tele for Badla at NSE, is this good sir Ramesh S. Damani : They could have a technical bounce.Unless I write I have no specfic positions in these scrips. This is as per SEBI disclosure norms amitraj : any comments on "bechara" small investor Ramesh S. Damani : Be careful with your money. Do your own homework Ashish : sorry sir i can't get u, anyway what the margin which levied from that At NSE is around 50% is this correct sir Ramesh S. Damani : They have recently raised margins especially on sales. I am not a member of NSE Prasad : Sir, this is the good time for invest in share? Ramesh S. Damani : Yes if you are patient and not leveraged samir : do u see many indian software programmers coming back from US? does it mean that employee cost of soft companies will go down? Ramesh S. Damani : Some may come back amit : why do you like onward? Ramesh S. Damani : For a technical bounce. Scrip has fallen from 900- to 30. It could have an EPS of Rs 10 for June 2001 Sonali : Specifically any bargain hunting + good co. from your view point Ramesh S. Damani : Refer to earlier answers Ashish : is it safe working as an employee in Stock mkt. related firm, give me ur advice Sirji Ramesh S. Damani : Why not. Any specific question Kenny : dsq or pentamedia,which will you suggest now? Ramesh S. Damani : Neither. No positions in them amitraj : do psu stocks still fancy u. Ramesh S. Damani : I am disappointed. It seems the process is stalled again due to the problems in Delhi Sonali : What will be the fate of PSU now Ramesh S. Damani : See earlier answer. I think IBP and CMC will get divested. The rest will get stuck amit : what will happen to Indian market if Fed reduces rate by more than 0.5% Ramesh S. Damani : We should see a sharp temporary rise Sonali : Other than software, any other bargain hunting Ramesh S. Damani : look at power co's Neeraj : What is the fate of small investors now? For how long they have to wait for gains? Ramesh S. Damani : Small and rich investors will have to wait Ashish : sirji, becz. as the capital mkt. is very much unstable & competitive too becz. aajkal gaon gaon main bolti / nse terminal mill jayenge, then too in this competition do u think that it is safe to work here. why? Ramesh S. Damani : Look for a good broker with good risk control. 100 Bolts in India is very risky sanjeev : mr. ramesh whats prob in calcutta stock exc Ramesh S. Damani : Too much leverage. amitraj : what about kochi refineries. is it a safe bet looking to the book value of Rs 185 Ramesh S. Damani : I don't like refineries Rakesh : Hi Ramesh, your favourite stock HDFC Bank is down to 239 Worth accumulating? Ramesh S. Damani : They may have reduced profits due to invoking of bank guarantees by Stock Exchanges Rakesh : Ramesh, what's your best pick in Pharma today Ramesh S. Damani : I own some Abbott for long term view. Cipla, I dont own. looks good kr : sir, name good power company in which we can invest at the moment Ramesh S. Damani : I have a position in ABB Sonali : CMC Has sharply fallen from 400 to 215. divestment is in process? Is it a good buy Ramesh S. Damani : if it gets divested, yes. Process may be stuck sanjeev : what about hfcl dear Ramesh S. Damani : Not on my buy list vraj : Mr. Ramesh, "Sub-broker commits suicide", Please comment on the situation Ramesh S. Damani : It is terrible. I wish people had a greater understanding of risk in the capital markets sushil : hi what u think upto what point bse benchmark would go down, near 3100 or it will not break 3400? Ramesh S. Damani : Price movement is worrying Sonali : There are some defaulters in BSE too, rumour says. so, that is factored in or again the bloodbath will be there Ramesh S. Damani : Let see at pay-in time. Trade Guarantee fund is large enough amitraj : is vst open offer price likely to be revised upwards soon Ramesh S. Damani : no idea. sp : what's your say on global tele, dsq, pentamedia Ramesh S. Damani : No positions and no news jayesh : i have 570 shares of hindustan lever @ cost of rs 105/- should i sell now and buy at a lower price Ramesh S. Damani : I don't recommend trading in core holdings usually kr : at what level would you suggest ABB to buy Ramesh S. Damani : Around current levels sankb : Dear Sir, how you predict for this crisis and what should be solve Ramesh S. Damani : Excessive speculation and outstandings. I think outstanding will shrink and market will become healthier saurabh : sir, can u give some brief idea on restrictions on square off trading? Ramesh S. Damani : you can buy and sell. Not sell and buy. You can sell for delivery Balasubramaniam : Aptech was doing well. today there was small fall. what is your advice Ramesh S. Damani : I have a small position in and better faith in NIIT Naresh : Mr. Ramesh, It is worth holding HFCL purchased at 1000+ for some months or do you recommend to sell them? If it were to be sold, what approx price do you recommend to sell them Ramesh S. Damani : At market rates. I have no position in the scrip Jayant : Sir I have shares of Reliance Petroleum, of Rs. 80,000, now i want to sell them, sir is it necessary to open any Hong Kong bank a/c. Tell me any simpler way to sell my shares. Ramesh S. Damani : Reliance Petro is in demat, So if they have been demated no problem. Otherwise you cannot sell them Mohan : What is your opinion about Alstom Power India? Ramesh S. Damani : I have a small position. It looks okay vraj : What is your opinion on Relience Petro. Can I take it into my portfolio at this moment? Ramesh S. Damani : I don't like refinery stocks RD : What is your opinion about MTNL Ramesh S. Damani : No divestment - no bullishness udupa : What about the prospects of Rolta? Will it recover Ramesh S. Damani : Unlikely. Balasubramaniam : Were you present at the crucial meeting with Mr Rathi Ramesh S. Damani : No! jayesh : which scrip i should buy for at least six months period Ramesh S. Damani : I bought Citicorp Sec for a 1-2 year investment Rakesh : Ramesh, please let us know your best pick today in FMCG Ramesh S. Damani : I bought a small amt of Colgate. India Shaving I am looking at. Good value vraj : What do u say about the IT Stocks? Will the past glory turn up again.... Ramesh S. Damani : Yes. Remember India has no future without tech spesindia : Mr. Damani you said power cos look good but there have been no sops for them in the budget Do you think the tehelka.com episode will have any adverse effect on the central govt.? Ramesh S. Damani : Yes. Decisions will be frozen. sushil : at what rate one should purchase satyam com at 225 or 130? Ramesh S. Damani : You tell me ajita : will u recomend me to enter hfcl at 200 level Ramesh S. Damani : Not really amitraj : does investing in old economy at the present level make more sense or investing in IT as the valuations of IT co's are quite interesting at present Ramesh S. Damani : Put 50% in tech mahurkar : what about Kale Consultants?? Ramesh S. Damani : Keep an eye on it Sonali : Max India has fallen too much - your say Ramesh S. Damani : Yes. Let's see the results spesindia : Mr. Damani dotcoms are a phenomenon which is no more relevant, IT has a bleak outlook this quarter, Power has no benefits in this budget, Cement has indirect benefits, which industry would be your favourite pick Ramesh S. Damani : IT-enabled services bhandariy : were you also part of the operators cartel for hfcl and dsq Ramesh S. Damani : Never traded in them rajumehta : hello sir, what are the prospects of dsq biotech? current price - Rs.39/- !!!! very attractive? Ramesh S. Damani : Why is it attractive other than the fact that it has fallen so much vraj : I have GTB 700 shares, I bought at 70. Shall I hold for still more time or shall I dispose? Ramesh S. Damani : I prefer HDFC bank Rakesh : Finally, Ramesh would you be surprised if INFY touched 3500 in the next few weeks Ramesh S. Damani : I hope it doesn't. But it could test the bottom mikku : sir, should i buy citicorp sec. at current price or wait? Ramesh S. Damani : Around 150 is okay AJEET : SIR, WHAT DO U THINK ABOUT SILVERLINE AT THIS TIME WORTH BUYING Ramesh S. Damani : Nope. ak : Mr Damani, It seems First Global was aware of Tehalka tapes and hence it short sold even after such a good budget- its an invetsor in Tehelka so prima facie it appears they have resorted to insider trading. Your comments Ramesh S. Damani : I doubt it. Let them investigate complete. No one understands the impact of an event on the market with certainty. Balasubramaniam : what will be the outcome of greenspan meeting Ramesh S. Damani : 50 basis point cut. 75 will cause a sharp rally Dileep : Now there is lot of talk about corporatisation of Stock Exchanges....It has gained momentum after the crisis in CSE...will trading be safer after that happens Ramesh S. Damani : Trading is safe except at CSE even today honey : dear sir,hello. i want to know about the shares of MRPL. why these shares are not going up, not more than RS 8.00.what is the condition of this company Ramesh S. Damani : I am not really sure why. I don't follow refineries ak : MR DAMANI, IN THE MEDIUM TERM, WHAT IS GOING TO HAVE BIGGER IMPACT ON THE MARKET-TEHALKA OR THE BUDGET Ramesh S. Damani : No action by govt on refroms would be a disaster retailmoney : nasdaq will be 4500 and sensex wud be around 6000 by the end of this year Ramesh S. Damani : Stranger things have happened. Don't count on it though spesindia : How is Mr. Aalok Chooriwala? Ramesh S. Damani : A good guy and friend of mine. He has withdrawn from the contest of BSE Director bigbull : Do not you have any shame on coming this chart after your invovement on recent fallout of indin stock !! Have some self dignity !! Ramesh S. Damani : You mean chat. I am not involved. I am not under investigation. ak : CONGRESS HAS DECIDED TO OPPOSE LABOUR REFORMS IN THE BUDGET AT ITS BANGALORE SESSION. DOES IT MEAN END OF ROAD FOR LABOUR REFORMS AT LEAST IN THIS HOUSE? Ramesh S. Damani : looks tough. If the budget passes, it should pass though karthik : My friend says you can buy any stock with a PEG of 0.5 and below. Is this right ? Ramesh S. Damani : One way to do it apm : in case we go for corporatision dont u think some day there will be a take-over threat from NYSE or say KARACHI SE Ramesh S. Damani : Or from NSE? retailmoney : ARE THERE ANY PAYMENT PROBLEMS IN BSE OR NSE? ARE THEY GOING TO GO THE CSE WAY? Ramesh S. Damani : I am not aware. Mohan : Mr. Damani What is your opinion about Cummins India? Ramesh S. Damani : Mohan i haev not bought it. Generally it looks good. honey : DEAR SIR. I AM A YOUNG BOY OF 21 YEARS & WANT TO JOIN SHARE BUSINESS SIR I WANT UR ADVICE THAT HOW WILL I ENTER IN SHARE BUSINESS . Ramesh S. Damani : Lot of job interviews. Apply somewhere. Read a lot ak : IS THE ATTITUDE OF CONGRESS TO REFORMS HYPOCRITICAL CONSIDERING THEY INITIATED IT-PARTICULARLY LABOUR REFORMS Ramesh S. Damani : Absolutely. They were worse. Govt has to function kvkraju : Please respond!! How long this trend will continue like this??? Ramesh S. Damani : Hard to say, Another 6 months ? corre : why do u come on the chat at 5pm when all people are in there offices and only students r here?? Ramesh S. Damani : I started at 4.15 retailmoney : OK MR. DAMANI... PL. REPLY IF THERE ARE ANY PAYMENT PROBS. IN BSE OR NSE Ramesh S. Damani : Only the ED of BSE would know that corre : thats worse even!!!! no one will leave their office work and chat with u! isnt it so??? Ramesh S. Damani : What time do you suggest. Research shows 4:00 pm is peak time for chat SANJU : Mr damani, please tell the prospects of tata power. I had bought long back at 160 Ramesh S. Damani : Reasonably optimistic on it sesha : On top of that SEBI si coming with rolling settlement. That should be the final blow. Put your money in Recurring deposits and relax. No other way. Ramesh S. Damani : Market will adjust to rolling corre : what do u tell??? r all the people free at 4 pm??? Ramesh S. Damani : No time is perfect for all. You look for peak and surges ak : MR DAMANI-R U TRYING TO AVOID POLITICAL QUESTIONS DIRECTED AGAINST THE CONGRESS-I SEE U SENSE THEM COMING BACK TO POWER!!!! Ramesh S. Damani : No. I want to find a clean party. It's maybe impossible SANJU : will INFOSYS cross 6000 within 6 months? Ramesh S. Damani : maybe. But let it make a bottom ramya : HEY SANJU... MR DAMANI IS NOT AN ASTROLOGER Ramesh S. Damani : Thanks for that, you are right corre : this time may be the peak time for chat.. but one will find here many people who r least of the interested in shares....wouldnt it be better to come online when there r only a few people who r 'really' interested in asking u about shares???? Ramesh S. Damani : I will ask rediff to look into it. However they want people, eyeballs. karthik : Mr Damani, Between fundamentals and technicals of a stock, which one do rely upon most? Please don't say both. Ramesh S. Damani : mainly fundamentals a : Mr Damani . PLEASE HELP .. I have a stock Broker In andheri , he Has played fowl with me during the bull run , he made me buy some stocks in which they were playing and gave me a bill without the Trade number and i also got to hear that he made a neat 40% in geting that stock stuck to investors WHAT SHOULD I DO .. PLEASE SUGGEST A REMEDY Ramesh S. Damani : Please write to the complaint dept of BSE and NSE where the trade occoured. Write full details and you should get prompt attention. apm : what do u call urself a bull or bear Ramesh S. Damani : Mostly a bull ulysses : , don't you think stock market is only for speculators today.... the common man compares it with casino and gambling Ramesh S. Damani : I disagree. people can get jaundiced. But long term view prevails a : I SENT MAIL TO SEBI - No reply I wrote TO BSE - I got reply saying will get back .. they never got back NSE - They NEVER replied. Any clue Ramesh S. Damani : It takes 2 weeks. Send them another reminder. Copy to SEBI and BSE Executive dir Mr Joshi corre : thanx for the answers...on last question....if i wanna become a stock broker, whom should i go to?and what r the risks in this field? Ramesh S. Damani : Any large well reputed firm apm : when this short selling will be back in the market Ramesh S. Damani : Soon I hope insider : how do i get financing to become a broker Ramesh S. Damani : Not really. Usually from personal sources Dileep : Mr. Damani why is Indian market always news driven and nothing to do with fundamentals Ramesh S. Damani : Not true. Study the long term returns of stocks. Thanks for joining in. See you next week Join the Ramesh S Damani chat every Tuesday at 1600 IST. ALSO SEE:
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