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THE CHAT ROOMS
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'Cut the bureaucracy''China gets FDI worth $40 billion annually. Our government just can't make up its mind. We all suffer,' says Ramesh Shrichand Damani. arkay : hasn't that been an amazing post diwali performance by the Sensex? but why hasit been falling so much today? qwerty : Infosys has predicted 30% grwth. wat is ur reaction? Ramesh Shrichand Damani : That is only for this year.The big question is next year. qwerty : iim lucknow has been rated best biz school in india. do u agree with the ranking else wats ur take on best B-school? Ramesh Shrichand Damani : I read about that. What is your experience in terms of challenge to the students. gwen : do u thnk reliance will ultimately take over dabhol? after all, bses's biggest shareholder is reliance... Ramesh Shrichand Damani : It is a possibility. kalyanaraman : tamil nadu govt.does not have money to pay salaries and many state governments are in a similar situation..this will surely affect the sales of ACC, Lever etc..even if world bank gives loan,the money may not last even for 6 months..with our FIs and banks in deep mess ,and even if disinvestment takes place and subsidies reduced,still the numbers convey a hopeless picture..what is your view about the economy and sales or profits of companies such as ACC,lever etc..which depend on a vibrant economy ?are you hopeful ?will you suggest a buy ? Ramesh Shrichand Damani : Sometimes a crisis forces the government to act and take important decisions. That is the call. Countries don't go bankrupt easily. They can print money. It will lead to inflation but stop a crisis. poiuy : fdi investment in india has been falling steeply. what is the remedy? Ramesh Shrichand Damani : Cut the bureacracy. China gets $40 billion a year. Government just can't make up its mind. We all suffer as a result. kitty : how long do u thnk this recession will last? Ramesh Shrichand Damani : Market is 6 months ahead of the economy. It seems to be signalling a recovery six months ahead. kelly : Why is Hindalco losing in the market today? Ramesh Shrichand Damani : its hard to spot trends in one daytrading deepak : what unsafe bank practices did SBI adopt? pls throw light. Ramesh Shrichand Damani : I am not sure of the nature of the allegation exactly. They seem to be "laundering" some dubious money inadverdently. It is a bit embarassing and US is too important for SBI to overlook. ramesh : What is the current state of cement sector? suddenly it has come into limelight... Ramesh Shrichand Damani : I think AVB group and GACL want to carve up the sector for themselves and want to prevent FDI in cement. This will hurt shareholders in the short run. lolo : how is cipla doing now? all the hype abt the company is now gone Ramesh S Damani : It is a good pick for long-term holders/ omega : Congratulations. Three weeks back you had cautiously predicted that the market has entered a bull phase. I was bit sceptical. You turned out to be right. Ramesh S Damani : Thanks. I do feel the worst is over. It is time to get back into equities. lolo : how was ur diwali rameshbhai? did the recession affect it in any way?how Ramesh S Damani : Yes. Less gifts given and received. Less crackers. I enjoy the quiet though. investor : After two days of corrections in Pharma stocks..how you see them doing now?I would like to invest in some pharma fund..when should I do that? Ramesh S Damani : I am not sure there is a dedicated pharma fund. omega : I have bought BEL & Citicorp in 'Muhurt trading" What were your picks? Ramesh S Damani : Citicorp and ITC. yadav : i have some money to invest. someone told me index futures is a good idea. do u agree. expln to me a little on wat it is please. Ramesh S Damani : Essentially rather then betting on a stock, you bet on the market. If you are bullish, buy the index. If you are bearish, go short the index. The contract size is approximately 2,00,000. It is a great way to play the markets. investor : How you see vsnl from now on?Should I sell my holding around the current prise of 225? Any news on Ipcl from this 47-48 rs. level?I have them too.what is your suggestion? Ramesh S Damani : I own some and I would like to wait till disinvestment at current rates. omega : What is the story in Trygyn? All of asudden so much activity.Any news? I am holding 550 sh of the same. Ramesh S Damani : A little bit of speculative activity in all tech. I would be careful at higher levels. prakash : wat is it abt the stock market tat keeps u coming back everyday? wat do u like abt ur job? Ramesh S Damani : I love picking great stocks. It is a challenge. That if it does well I make money is a great satisfaction. prakash : btw, do u charge for ur tv appearances? Ramesh S Damani : Lot of free publicity. No money. investor : ITI Pioneer and SBI both have dedicated Pharma Funds.So your advise on investment in the sector after this fall?Or you expect some more down side? Ramesh S Damani : I would put some money into them. Indian pharma will do well. rishi : wat is ur take on siemens. is it listed on indian market? Ramesh S Damani : No great enthusiasm. anand : wat happ to Ketan parekh now? any idea. we dont hear only of him Ramesh S Damani : No idea. He must be lying low. investor : What about IPCL?What you think of the stock?Now that crude prises are low and expected to be low.naptha prises should be lower too..Any bright future for the stock? Ramesh S Damani : I have given up on the stock. Government promised to disinvest it. It has taken 3 years. investor : Is It advisable to shift from Siemens to ABB Ramesh S Damani : I like and own ABB. Shifiting you decide. omega : Mr Damani just like you I am in the mkt since 1969 & I am always thakful to George Fernandis because of whom I had bagfull of MNC shares. Ramesh S Damani : Correct. Few people make thatconnection. George Fernandes is the father of the Indian Equity cult. shyam : who are your gurus among indian brokers? Ramesh S Damani : I am lucky to have some good friends. However my friends like their privacy. shyam : wow.. this george fernandes thing is interesting. tell us a little more abt it na Ramesh S Damani : He asked companies like Coke, Colgate and Lever to disinvest 60% to Indian shareholders or quit. Lever and Colgate did. Coke left. It created some great publicly held companies. It happened in 1977 under the Janata Government./ investor : What you see of INDO GULF?around 39-40 level a buy?how you see this quater performance for the company compare to last one ended?what level you think is very much acheivable for the stock? Ramesh S Damani : It is not a stock I follow actively. omega : I am always thinking of having his portrait in my office. Now I will implement Ramesh S Damani : He would be flattered I think. omega : Todays chat is becoming more interesting & rather lively Ramesh S Damani : Thanks all for joining. See you next week. Bye. radha : can you recommend some good indian material to read for finance related issues? Ramesh S Damani : I would suggest you read the international press. As you read it, you will find that it is relevant. Indian stuff is a bit boring. dips : mr damani, what do u think of Sensex's performance on and post Diwali? last time you said that the end of the tunnel is in sight. Ramesh S Damani : Lookig good. Market will move higher. investor : Mr. Damani In all this stock talks I forgot to wish you Happy New Year. So wishing you Very Happy Happy and Prosperous New year. Ramesh S Damani : thanks and the same to all of you on the show. investor : Mr. Damani after reaching 180 levels Tata Tea still looks good?What can one expect the price level on the higher end and lower end from this level? Ramesh S Damani : I think tea prices will have torevive to see a big move in Tata Tea. They are very low. omega : Did you get a chance to read Seamore Hearsh's article on The Newyorker? Ramesh S Damani : Sorry. Not yet. Larry King was talking about it on CNN. radha : wats ur favorite tv show in india? Ramesh S Damani : I like Friends on Star World. Other wise I mostly watch CNBC or CNN or BBC. Sometimes movies. investor : I think after all this rate cuts by US FED. Comodities like Aluminium and Copper should have reached their bottom level and should recover from their to enter in the upturn..How you see them moving in 2002? Ramesh S Damani : Why do you feel commodity prices falling a low interest rate environment. sanjay : govt says it will reduce fiscal deficit to less than 2% by 2006. do u thnk its possible Ramesh S Damani : Unlikley. Impossible. omega : When are writing about your memoirs? Earlier the better. I wil be the the first one to buy the same. Ramesh S Damani : Thanks. I just finished reading No Bull by Miachel Steinhard. A legendary trader. Book was so so. investor : Mr. Damani will the BEl brek away from this 63-64 levels and would go up??? Ramesh S Damani : I am hopeful. However it doesn'tseem ready yet. | |