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'Market has been a tough place'Mumbai, April 1, 2003: 'Sector-wise, I like ITES and liquor stocks. The banking sector is enjoying a run,' says Ramesh Shrichand Damani.RakeshJhunjhunwala : Don't worry about the fate of the market. By this Diwali we would certainly cross 3800. This is the best time to BUY Ramesh S Damani : Thanks all for joining. Let's start. Sorry for the delay, trouble logging in. Predictions about Sensex is generally off the mark. ShaileshBagri : Mr. Maheshwari I think that if the war is going to stretch to 3 months then I should advice you to sell all your stocks and stay in cash...you'll get lower levels to invest then. Ramesh S Damani : Sometimes the maximum gains in a market come in a 1-2 week period. So if the market goes up 80 per cent, the gain might be concentrated in 2 weeks. Timing is not a business investors should be interested in. SINGARAJ : Six new products from MOSCHIP due for relese in another three months.present your views on this co.PLEASE. Ramesh S Damani : Not been following this stock. jesselungmore : sikchisikchirb - AS LONG AS IT TAKES, AS LONG AS IT TAKES. MINUTE BY MINUTE, WE ARE NEARER TO MR. DAMANI. MINUTE BY MINUTE. HE SHOULD ARRIVE ANY TIME NOW. Ramesh S Damani : You sir, are a George W Bush fan. Administrator : Ramesh Damani will be there for the chat in a few minutes. Sorry for the delay. Rajiv : Thanks to you, I BEL as my major holding. Can we expect the good performance to continue. Most funsd still hold very small %age in this stock relative to investment in other companies!! Ramesh S Damani : Company is doing well. However, it is a PSU. So I would not recommend fresh purchase at this market cap. kamal : Mr. damani , first time i am nervous in so many weeks now . You think it is really serious on war front and one should exit? Ramesh S Damani : Market is not going down due to the war alone. Remember the Kuwait Stock Exchange indice made a new high on Sunday. BASANTMAHESHWARI : If memory serves me right Marc Faber doom gloom and.... suggested to investors around 12 months back that the best place to be was in commodities Gold has shown a stupendous rise after that and it continues to show strength no matter what people say.I feel that increase in gold prices will show a wealth efect for Indians as to wwhat the Americans experienced in the late 90''s. Your take Ramesh S Damani : Gold as an asset class will do well. Read James Grant column in Forbes. It's called The Case For Gold, essentailly USA and Japan are going to print money and this will lead to inflation. anaam : Dear Mr Damani,I am holding more than 1200 sh of Geometric(Purchase from 310 to 425)Should I add some more @ this level? Ramesh S Damani : Not at current rates. I still own it. Rustom : Mr damani, what do you think of selling all one's stocks at today's leve;s and stay in cash ? Ramesh S Damani : Generally not a good idea. anaam : Sir,Did you get a chance to glance @ Macmillan's results which were to be announced last week? Ramesh S Damani : They were decent. The company is not able to grow at 35 per cent. That is causing the problem. Twenty per cent is not good enough for growth investors. I still own it. sumit binani : hello , how good a pick silverline & pentasoft. Ramesh S Damani : I would avoid both. rajesh : Sir, How is Tata Infotech is Looking to you. will you advice to invest in the stock in not invested earlier. Is is a strong buy at current levels. What % of equity have you invested in this stock.Do you think further downside is possible in this stock. Ramesh S Damani : It makes sense at current valuations. However, earnings are still spotty. Buy an initial amount. BASANTMAHESHWARI : When people ask me" Kya le rahe ho?'I say "saas(breath)"? WHen someone asks me Kya lagta hai(vague queation)I say DAAR.By the way what are you buying? Ramesh S Damani : I recently bought United Breweries at around Rs 70. It has a market cap of Rs 105 crore (Rs 1.05 billion). Scottish and Newcastle is taking a stake at Rs 2000 crore (Rs 450 crore for 26 per cent.) I am bullish on the liquor industry on valuation and future prospects. DamanisFan : what the hell is this//rediff is totally non-professional.Its been 30 minutes late and they are not informing even Ramesh S Damani : Sorry it was my fault. I could not log in today. vjhunjhunwala : why mr damani cash reserves is considered negetive for a company's rating Ramesh S Damani : It is good to support a stock price, but you cant give a price earning to cash. PE is given for profits. rajesh : Sir, have you reduced your holdings in IT enabled stocks.What % of equities you have invested in these stocks. Ramesh S Damani : No, not reduced. Around 50 per cent is ITES. tk : MR DAMANI..CAN I SWITCH FROM HLL TO HPCL...I HAVE 1200 SHARES OF HLL Ramesh S Damani : it is not a logical switch,HLL should be replaced by a conservative investment Sheila : I want to know if you think this is a good time to buy IT enabled companies-any names u could kindly suggest? Ramesh S Damani : This is a good time to buy them. Look at e-serve, Tata Honeywell, both of which I own. hope : mr damani why ignore a poor man question on MRPL share holding . i am thinking on investing 2 lacs in this and hope to achieve a decent increase in 2 yrs. yr view sir Ramesh S Damani : I don't follow MRPL. jesselungmore : MR. DAMANI - ITS BEEN ONE YEAR - YOU HAVENT COME UP WITH ANY NEW IDEAS - WHAT SIR - YOU NOT DOING MUCH RESEARCH, IS IT Ramesh S Damani : Market has been a tough place. Sector wise, I still like ITES and brewing assets. Administrator : Readers can access last week's chat transcripts at http://www.rediff.com/chat/trans/2503ts.htm. The transcripts were put up on the same day as the chat. balumani : How about BEML Damaniji Ramesh S Damani : I am not bullish on it at the current time. rajesh : Sir, apart from IT enabled stocks and Liquor stocks, will you advice to invest in stocks like SBI. and any other stocks. pl answer. Thanks Ramesh S Damani : SBI is okay at current rates. I own it. sunil : Do you think it is the right time to invest in pharma stock? This is because, the implementation of vat has been delayed. The sales for the month of march have already taken a beating. The same beating might be seen when vat might be implemented. So why not wait till it is implemented becuase the sales figure and profit figure will surely be effected Ramesh S Damani : Buy the Indian pharma for intellectual property, not domestic sales. jesselungmore : SIR, ONCE UPON A TIME, NOT TOO DISTANT IN PAST, YOU USED TO LOVE CONCOR. THE STOCK IS NOW DOWN TO 220. QUOTING AT 4 TIMES FY04E EARNINGS. BUT YOU DONT RECOMMEND IT. WHY SIR? WHATS YOUR VIEW ON IT NOW. BUY / SELL / HOLD Ramesh S Damani : It is a good value pick. I own a small amount. Ashish : DAMNAI JI , PLEASE COMMENT ABOUT HLL & SATYAM Ramesh S Damani : I would avoid Satyam and hold on to HLL. Yield is good in HLL. ProfHAkkMalaysia : Mr Ramesh Damani,Is it time to look at cement shares? What is your views/opinion/comments on MADRAS CEMENTS? Ramesh S Damani : Excellent share to own if you are bullish on cement. They will do well over time. rajesh : Sir, at current situations like waar in Iraq will you go for defencive stocks or aggressive stocks. How will you classify liquorstocks and IT enabled stocks as defencive. Have you invested about 100% in equities. or you have cash Ramesh S Damani : ITES are growth. Breweries are value. I am about 80 per cent in equities. rajesh : Sir, do you think war in Iraq can last upto another 3 months. If so will you avoid buying equities. Ramesh S Damani : I think it will be over before. Then you buy great companies and hope the world does not blow up. naresh : Pls. comment on Tata Info. at this price. Ramesh S Damani : Looks okay to me at current rates. balumani : Problem with IT could be exchange rates also Ramesh S Damani : That is a problem they have to overcome. It is a problem though. bobby : DO U BELIEVE HPCL DISINVEST WILL GO THROUGH.WHICH WILL BE THE NEXT ON THE LIST Ramesh S Damani : I think it will. Next is anybody's guess. Too early to tell. shinna : Damaniji, Any comments on Zensar Tech, SKF bearings, Cummins India.. Ramesh S Damani : Avoid Zensar. SKF and Cummins look promising at current rates. kamal : wHY ARE U HOLDING MACMILLAN IF IT IS NOT GROWING ? Ramesh S Damani : It is growing at 20 per cent. I believe they can grow at 35-40 per cent. However, management has disappointed in this regard. kamal : 7TH TIME : WE WANT ABOUT INFOTECH ENTERPRISES, WHATS WRONG IN THE COUNTER Ramesh S Damani : I think they are looking at missing guidance. Management seems to make forecasts and then miss them all too regularly. mallesh : Can i hold Allahbad Bank shares? Ramesh S Damani : Sure the sector is enjoying a run. However, not a good long- term bet. Lynch : Priya looks like a SPICE girl-- she wants to invest in ETF- what is the need for ETF when U have futures on NIFTY? Ramesh S Damani : Spice is an excellent product. Trades in the cash market and is not weighed down by Wipro. Thanks all for joining. See you next week. Bye. |