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THE CHAT ROOMS
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'Market is overdue for a technical rally'Ramesh Shrichand Damani hopes that all the bad news and outstandings are in the price but is not certain of the long-term future.
Ramesh Shrichand Damani : Good Evening and welcome to the chat deepen : Is CMC still on your buy list? Ramesh Shrichand Damani : I have sold a little bit but it remains an excellent disinvestment candidate samir : Mr Damani when will it be time to buy again? Ramesh Shrichand Damani : Market is overdue for a technical rally. However the long-term future is still uncertain neerajkapoor : hi, Ramesh Bhaiya, is Sunil Chandak buying or selling? Ramesh Shrichand Damani : He is confused arora : namaste rameshji is VisualSoft worth buying now? Ramesh Shrichand Damani : Let's wait till the results are out deepen : Will disinvestment happen without problems? Ramesh Shrichand Damani : Thats virtually not possible paliwal : Will there be any bad effects on the market by the Tehelka issue? Ramesh Shrichand Damani : What do you think has been happening over the last few weeks? pganapati : rameshbhai, what is your favourite stock right now? Ramesh Shrichand Damani : I am partial to ESERVE formerly Citicorp Securities which I own Rakesh : Hi Ramesh. I just inherited 5000 HLL bought at Rs 10 each. I'm scared HLL may drop sharply this year. If I sell 50% of it (2500 shares) which safe stocks would you suggest I buy with this money for long-term gains? Ramesh Shrichand Damani : That is a tough question to answer. You could diversify in the peer group like Colgate, Nestle. Markets are risky. Keep that in mind. Good luck. paliwal : I think market will be stable. Ramesh Shrichand Damani : Stable markets don't make money though. It makes the regulator breathe easy neerajkapoor : do you think the market can look up for the new economy sector? Ramesh Shrichand Damani : We are doing some bottom fishing. How about Kinetic? paliwal : What about computer software shares.Will it go up? Ramesh Shrichand Damani : They should have a technical rally Rakesh : Thanks Ramesh. But why not invest in companies like Reliance and HDFC Bank also - I mean why stick only to FMCG? Ramesh Shrichand Damani : You could. HDFC Bank is good, but results may be under pressure due to invoking of Bank guarantees rupali : why did the market go up today, the newspapers were dismal Ramesh Shrichand Damani : Technical bounce. All the worse news and outstandings are in the price I hope. neerajkapoor : well I am quite bullish about Kinetic Ramesh Shrichand Damani : Are you going to the match tomorrow? neerajkapoor : Well. I am playing a match in Mumbai tomorrow. Ramesh Shrichand Damani : Great. Get us some Shrewsberry biscuits. RShah : Mr. damani, ur take on CMC pl Ramesh Shrichand Damani : I have sold some, but it is a good disinvestment candidate. peeyusht : Hi Mr Damani, Where do you think is the nasdaq heading in the near future. Ramesh Shrichand Damani : I think it will rally to 2250. deepen : what about BEL? share price has been at this level for some two years now? Ramesh Shrichand Damani : Company is doing well, should pay a dividend of Rs 3. It's undervalued. Rajesh : Mr. Damani, Do you think introducing rolling settlements is the solution to the problems which the market is facing right now? Ramesh Shrichand Damani : It will curb the unbridled speculation. If we had curbed it before we wouldn't have to go in for this extreme measure. sssssssss : do you think it is the right time to invest in shares at this point of time? Ramesh Shrichand Damani : A good time. Not the best. RShah : Sir, when is the last date for submitting EOI for CMC? Ramesh Shrichand Damani : I don't have the date. It should be soon. peeyusht : How good or bad are the Results of the IT Cos going to be this quarter. Are they worth investing in ??? Ramesh Shrichand Damani : Slowdown is apparent. Lot of profit warnings. sreedhar : Do you think tehelka has some dealings with the fraud brokers? Ramesh Shrichand Damani : I doubt it. vijayd : What about Cadila and TV 18. Now they are shifted to A group. Are they a good buy? Ramesh Shrichand Damani : Nothing exciting out there. shrish : Mr Damani, why are MF's taking a hard beating compared to the fall of the stocks? Ramesh Shrichand Damani : They tended to buy the momentum stocks. kitty : how do u think the Mid-day IPO will do? Ramesh Shrichand Damani : Media stocks are doing poorly. ulysses : will short sales ban be lifted in the near future? Ramesh Shrichand Damani : Looks like it may be extended to July. sangram : Will badla as a product die??? Ramesh Shrichand Damani : Clearly its heyday is gone. SHIVANI : Sir..what excatly is badla rate? Ramesh Shrichand Damani : The rate at which you can have your purchases financed or your monies invested on Dalal Street. It is set every Saturday during the Badla Session. mallik : Heard that TCS is trying to list on the NSE & NASDAQ. If so what would be the price? Is it any benefit to think of buying them?? Will it be anywhere in comparision to Infosys boom?? Ramesh Shrichand Damani : It would have a valuation in excess of INFOSYS. The tech boom is over. sreedhar : Is it safe to buy Wipro/infosys shares now as they are becoming cheaper? Ramesh Shrichand Damani : Safe is not a word I would use. You could trade them. Tech is too volatile. RShah : Mr. damani, dont u feel that we must close the stock market for 15 days and allow the panic to subside. Clean the mess, conduct raids, clear the permanent problem Ramesh Shrichand Damani : Markets must remain open and liquid. I think investors would panic if you closed it Sandeep : Sir what is in store for Hindustan Lever and Nestle? Ramesh Shrichand Damani : They are good defensive stocks. ManishDhoot : Sir, I have some shares of Polaris Software.What should I do? Hold it or sell it? Ramesh Shrichand Damani : Hold it for now. Rakesh : Have you heard any rumours about INFOSYS laying off people or issuing profit warnings?? Ramesh Shrichand Damani : Not really. But they will be impacted soon I think. ahwa : How are ABB, HLL and Reliance Petro ? Ramesh Shrichand Damani : ABB looks good. sundar : Mr.D, You gave a lot of speeches on the CNBC about buying Himachal and Global all through last year. Obviously you were talking rot like all the other blokes on that channel. What are you recommending now for us chaps to lose? What do you earn out of this baloney you dish out? Ramesh Shrichand Damani : If you review the transcripts I have never said buy HFCL or Global. I have made my share of mistakes, but not those two. RShah : sir, which is more safe bank , icici bank or hdfc Ramesh Shrichand Damani : I prefer HDFC Bank. vivek : which sector are you bullish on? Ramesh Shrichand Damani : IT-enabled sector. JaiHind : Sir, today Pakistan has fired missiles. Will Indian stock market shiver tomorrow? Ramesh Shrichand Damani : I did not hear about it. Details? sridhar : Do you mean to say because of US market infosys shares came down drastically Ramesh Shrichand Damani : Just overpriced. Rakesh : Ramesh, I am keen on buying L&T what is your view at current price?? Ramesh Shrichand Damani : Looks okay. santy : Hi Damani!, Do you agree the way SEBI works. I mean it keeps mum when the prices of shares are jacked up and get in to action when it falls steeply? Ramesh Shrichand Damani : They have a tough job keeping everyone happy. ajay : Can i ask you the future of indian IT stocks, please? Ramesh Shrichand Damani : Bright. But pick the companies carefully. bearbull : do you think that indian stock markets are too sensitive nowadays while reacting to nasdaq changes Ramesh Shrichand Damani : Lots of internal problems too. ahwa : What is your projection on sensex at the end of 2001? Ramesh Shrichand Damani : Not comfortable making a prediction. balu : sir how good a stock tata power is Ramesh Shrichand Damani : looks fine. kpten : what is future of calcutta infotech stocks like DSQ and RS software from current levels ??? Ramesh Shrichand Damani : Looks tough. bearbull : do you think that we heading to a situation we had during 1992 scam , i mean there is a lot more exposure of indian banks this time too Ramesh Shrichand Damani : Let's hope not. But a lot of similarities. VinodPai : sir what about badla pool a/c being banned by sebi can u please throw some light on this issue. Ramesh Shrichand Damani : It's good. It is a safeguard against duplicate selling. Anand : Software hoopla is over now or not? Ramesh Shrichand Damani : Hoopla is over. Industry is at the leading edge. WoundedBull : Are you involved in insider trading? Ramesh Shrichand Damani : No. satish : why are my questions not being answered inspite of being posted earlier to the one'e being answered Ramesh Shrichand Damani : Sorry, please repeat sakhalkar : damani ji.. dont u want to comment on US economy.. esp. when u done an MBA from there Ramesh Shrichand Damani : Its headed to a recession. Hard landing. VinodPai : sir then what about those genuine badla financer who are doing this activity from those brokers who have hundreds of vyaj badla clients Ramesh Shrichand Damani : No problem in Bombay/NSE on that. ganesh : why sebi/govt. has not taken any action against calcutta bear lobby? Ramesh Shrichand Damani : Dunno sanjukot : Damani Sir whats ur memorable incident in the life Ramesh Shrichand Damani : I am a pretty ordinary guy, birth of my son maybe? Amar : where do you see the future of arbitrage business Ramesh Shrichand Damani : With rolling it will die down raman : u involved in current stock exchange crisis Ramesh Shrichand Damani : No just some namesakes. sk : there are lot things taking place behind the scenes where the common man does not understand Is it wise to invest in stocks now Ramesh Shrichand Damani : They should learn. This is where you should invest a portion of your savings. SadLoser : Sir can u tell me how is HCL TECH and the other tech stocks Ramesh Shrichand Damani : What would you like to know amitabh : Do you think the health of the economy can be gauged by the way the stock prices are?Why? Ramesh Shrichand Damani : It is a leading indicator. Ani : What you think Infosys will come to the level of 3200 or not Ramesh Shrichand Damani : Bottom should hold at 3750 for INFY AnujJain : I have stocks of NIIT. Should I buy more Ramesh Shrichand Damani : I like NIIT. alok : I THINK THAT ONE DAY A COMMON INVESTOR WILL SURELY SHOT ON OF THEM DEAD FOR THEIR WORK. Ramesh Shrichand Damani : No violence pls. Land of Gandhiji chandrasekar : do u think India needs 23 SEs? Ramesh Shrichand Damani : No sriram : Do you think that the recent SEBI action of removing brokers from the Mangement of Exchanges is the right move.. wont the exchange get too bureacratic? Ramesh Shrichand Damani : It is a risk. I dont get the professional/family debate. amitabh : how would you say it is a leading indicator especially in our market which seems to be manipulated? Ramesh Shrichand Damani : Stock markets are a leading indicator. They bottom out ahead of the economy Sandeep : What is the future of the FERTILISER Industry in India - specially for stocks like TATA Chem and Nagarjuna Fertilisers?? Ramesh Shrichand Damani : Not very exciting in my view. Ani : Anirudh Sethi says that Index will plunge to 3100 level, that is first target and Infosys first target is 3200 level and thereafter he says blood bath not ruled out Ramesh Shrichand Damani : He is a good caller of markets. I am not that bearish though currently. Ram : What price did you buy Citicorp Sec. Do you like any peer companies? Ramesh Shrichand Damani : Around 170. None in the same league Rajan : Good Afternoon Mr. Damaniji,IDBI is going into film financing. What do you think about it ? Ramesh Shrichand Damani : They need to get into tech. Amar : what is the prospect of arbitrage between spot & future mkts Ramesh Shrichand Damani : Volumes will be small and it will take rocket science. satish : I am having to quit from the chat since you are not answering my questions Ramesh Shrichand Damani : Sorry satish i can't see your questions. bhatr : please advice on max india Ramesh Shrichand Damani : Looks good to me. SANJAY : MR DAMANI CAN I ASK U A SIMPLE QUESTION ?HAVE U LOST A SINGLE RUPEE IN THIS MKT? Ramesh Shrichand Damani : Sure have. peeyusht : Why should IDBI get into tech if tech is bottoming out? Isn't it a paradox? Ramesh Shrichand Damani : Tech is our future. SANJAY : MR DAMANI I BELIEVE NO ONE OF U EVER LOOSE MONEY? ITS WE THE COMMON INVESTORS WHO R BUSY FILLING U'R COFFERS Ramesh Shrichand Damani : you have the wrong impression my friend. That is not true gkn : If you have to buy one scrip in today's market, what would that be and why? Ramesh Shrichand Damani : Look at previous answers. vishwas : sir whats your opinion on Indo Gulf co. Ramesh Shrichand Damani : Good dividend. Jalpa : what is the fate of small & traditional brokers Ramesh Shrichand Damani : Looks tough. bk : do u think the ZEE share will ever touch it's previous record value of more than 1000 Rs? Ramesh Shrichand Damani : I doubt it. 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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