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'The market should correct'Mumbai, August 5, 2003: 'The market has made an intermediate top and time is right for consolidation,' says Ramesh Shrichand Damani.baracuda : i am raising my one year price target of macmillan to 300the qrt 2 results have been excellenti expect the trend to continue in the 3and 4 qrtare yu now willing to raise your price target Ramesh S Damani : Hello everyone. Thanks for joining. Let us start. Mcmillan results have been good. It should reach your price target. I own it. aneel : opto circuits ahs rised 50% since ur recommendation...has rs 3 div n 2 : 10 bonus in the share...do u feel its ripe now or still has some steam left Ramesh S Damani : I booked some profits but the company is doing well. anaam : Sir,I was alloted 25 sh of Colgate in IPO & till now it has gone upto 2400 sh which I am still holding. It seems the share is just "tired" of old age. Please suggest me in which share I should shift from Colgate. Ramesh S Damani : You are really a long term investor. However at the current time I would be buying Colgate. The company has good financials but poor growth. Once growth resumes it will continue upward. I own it. mayur : Sir, today in CNBC, one of the analysts told that two tata companies which will be benefited by the TCS IPO is Tata Telecom and Tata Tea. I did not hear him completly during the show. What do you think so sir? Do they have any shares of TCS? Ramesh S Damani : Tata Tea may have a holding in Tata Sons which holds TCS. AnandBBhatt : Good afternoon Sir,How was your vacation?What do you suggest doing at these levels?Do you suggest buying anything?Thanks Ramesh S Damani : Good. The market is just going into correction, let's wait. I would still look at SBI, Tisco in the large caps. Small caps I keep discussing. narayan singhi : i have heard that eserve will announce bonus issue any idea Ramesh S Damani : I doubt it. baracuda : man industries has also posted great results and i expect full year profits to reach 30crson an equity base of 18crs dont yu feel that the stock has some more steam leftwith lot of investment occuring in the gasboth nationally and internationally Ramesh S Damani : It does. But small cap company like this should be sold when the going is good. We have yet to see if they can deliver good results consistently. mayur : Sir, any views on a midcap pharma company called J.B. Chemicals. One of my relative in Pune is very bullish about the company and recommended to invest in that company from 190 levels. What do you think so sir? Ramesh S Damani : I don't know much about them but generally they are doing well and is a respected company. amitsb : good evening sir mkts has gone down by 80 poins as u said dips should be considered any new stock u r looking to invest in Ramesh S Damani : The market made what technical people call a bar reversal today. The index went higher than yesterday's high closed lower than yesterday's low. This suggest an intermediate top and period of consolidation. sureka : Dear Sir what do you think about "welspun Gujrat" Ramesh S Damani : They should have a good year. narayan singhi : sundaram finance has taken $45m loan for truck fin in rural area how do u see the prospect in long run Ramesh S Damani : It's a well-positioned company. mayur : Sir, after the Andhra Government's decision to sell the stake in the companies, will the Gujarat government be following? Any good Gujarat scrips for divestment? Ramesh S Damani : GSFC, GNFC, and GUJ Mineral. Anjali : sir iam holding SBI@372 and HDFC BANK @270 can i expect 25% returns in next 5 months Ramesh S Damani : I am optimistic on SBI prospects. AnandB.Bhatt : Thanks,but what should I enter in the small caps?I own TAtaHoney,macmillan,Eserve.Pharma has gone up too much to invest at these levels?What do you suggest?Thanks. Ramesh S Damani : I recently added to McMillan. Risk reward ratio is the best. anaam : sir,You are calling me a long term investor.See what I am lolding..ABB(when it was Asea Ltd),Ingersoll Rand,Indian Hotel,Grasim..& it's all because of one Shrichand Damani(Investment Outlook) Please convey my regards to him. Ramesh S Damani : That is very kind of you. I will definitely tell him. Please tell me your full name. Thanks again. newatstocks : once again sir pls advice portfolio 25% macmillan 25% mcdowell17%sundaram finance17%ubholding11%zodiac5%mahavir Ramesh S Damani : It looks good to me. rkm : shree raj syntex is moving around 9 since many days. is it still on your radar? pls answer. Ramesh S Damani : Yes Ahmedabadguy : Mr. Damani what is the impact of Mr. chabaria taking subsideary BDA and Mr. malaya (mcdowell)compenseting him to get remaining of herbetson..At 45 rs.where does that leave mcdowell in the medium term outlook??? Ramesh S Damani : That would be bullish. Once consolidated with Herbertson, Mallya has promised to unlock value. Like I have said be patient. This is not for the momentum guys but for the guys who bought PSU shares in 2000 or old economy in 2002. Amita : What strategies should I follow in this market. Should I keep taking profits and rotating the money into fresh investments which offer value? Ramesh S Damani : That depends on your philosophy, generally it is best to buy and hold and not trade frequently. mistry : sir, kindly tell us about Jain Irrigation Ramesh S Damani : A speculative buy for those who can take risks. The company has turned around. vikas : Tata Infotech has turned around strongly. What should we do at this rate and any further news on TATA HONEYWELL Ramesh S Damani : I have invested earlier in Tata Infotech, and there is no news on Tata Honeywell. Ahmedabadguy : Mr. Damani one large Indian brokerage house has put outperformer tag on macmilan at 163 rs. prise and prise target of 200 rs. After current results they upgraded the prise target to 226( which is also reached) but downgraded the stock to market performer)brokerage house is IL&FS Investmart... Ramesh S Damani : It is a mystery how you can tag stocks like this. It remains a core holding. AnandB.Bhatt : Is it OK at 200 plus or should I wait for 170 -180 levels.I bought some at 175 earlier though.I thought I will wait till it corrects to 170 levels.DO YOU THINK THIS IS A RUNAWAY MARKET?IT HAS HARDLY CORRECTED IN THE LAST 2 MONTHS.IT SHOULD CORRECT SHOULDNT IT.YOUR TAKE .THANKS........... Ramesh S Damani : It looks cheap to me so it may not correct in a large manner. vikas : How will MALAYA UNLOCK MCDOWELLS VALUE? Ramesh S Damani : He will sell a strategic stake. vikas : UB Holdings turned ariund from .13 cr loss to 5.76 cr profit but share is sliding . whats happening Ramesh S Damani : It is hard to say what attracts attention. The stock is cheap based on a sum of the part basis. 1434 : vivek : hello sir, have you seen alka spinners results.. it is exceptional.. should we not expect at leat 100% appreciation from current level of Rs. 1.27... Ramesh S Damani : I have not seen it. Sorry geetesh : Sir what do u think of todays fall is it going to b sbstancial or is it the reverse trend started of mrt started Ramesh S Damani : The market has made an intermediate top. It should correct.v kjram : With the textile interest revived, is there hope on JCT, considering their debt restructuring Ramesh S Damani : I have not followed JCT. Ahmedabadguy : Sir will you please elabrote for the larger interest of all your followers when you say some script is a core holding(e.g. macmilan)so typically what you look into it when you decide to have one as a core holding..I mean buying criteria and selling criteria for them???? Ramesh S Damani : When I am bullish on a sector prospects over the next few years I pick stocks in that sector as my core holdings. Eg : Infosys and CMC during the tech boom, BEL, BEML, etc in PSU boom, E-serve, Mcmillan in ITES. I expect these companies to grow at 30%-50% compounded over the next few years. probal : Sir what are the listed ITES companies which u follow now or keeping a close watch on it... Ramesh S Damani : I follow all of them. Mphasis, e-serve, McMillan, Tata Honey and a lot more. amitsb : Sir please let me know i have gout union bank at IPO around 1600 shares what r your views should i sell and book profits . ? Ramesh S Damani : An IPO is scheduled and hence the company could suffer an overhand. kjram : Mphasis is not making money on their bpo outfit-are you still upbeat about the stock- i think it is overpriced Ramesh S Damani : I agree, I follow it I am not buying it. Ahmedabadguy : Sir which stock apart from your core holding you find has a momentum to reach greater heights then this intermidiate top level once cosolidation phase is over and market again revives(strong outperformars) few you scanned and hopeful...... Ramesh S Damani : Among the large caps, SBI and TISCO. amitsb : sir i couldnt get what u mean ?? At 40 levels should i sell the stock or hold .. ?? ( 1600 shares bought at 16 Rs. ) Ramesh S Damani : An IPO means shares will be in public hands and this may dampen prices. AnandB.Bhatt : Sir,what do you think of investing in Karur and HDFC Bank at these levels?These are the only 2 banks that have not gone through the roof.All PSU banks and even Vysya BAnk have gone up a lot.Do you think its time Karur and HDFC went up like that?Please advise. Ramesh S Damani : I think Karur could. It is cheap and doing well. Also it is a candidate for sale. HDFC is a good bank that will compound for you for the next 5-10 years. Don't worry about it day-to-day. neueatstocks : sir would it be advisible to add more of macmillan or is there any other ites company one can add at these levels ? Ramesh S Damani : Yes you could. e-serve could be added after one more quarter results. kjram : do you think indorama post-demerger will gather momentum Ramesh S Damani : It could, they are doing well in the current environment. type : Mr Damani - do you follow the auto-ancillary industry ? Looks like just the beginning of huge possibilities...Any picks ? Ramesh S Damani : Not really. My friends are recommending Laxmi Auto, Mico and Kalyani Brakes. vikas : E-SERVE : After one more result, what profit u are expecting them to declare which will make it eligible to buy more Ramesh S Damani : I want to see if margins are under pressure or not. neueatstocks : its a problem with many investors many sceptics but how do u convice to someone who is scared to invest that companies dont just go bust, i think u get what am trying to say Ramesh S Damani : The lack of alternatives. How can you become rich without investing in stocks. It is always good to be scared about investing. miteshbvora : How do you find centurion bank and hindustan motors from 1 - 2 year horizon. I bought 7000 centurion bank at 12 with a years view given the latest developments and involvement of Mr. Rana Talwar . I think the bank will be offering more and more of niche services now . What do you think about it and how much appreciation can it give in a years time or more. Ramesh S Damani : That is hard to say but we have a lot of respect for Rana Talwar's skill as a banker. Kocharr : Inspite of Sensex correcting form higher levels Sunphrma Gianed a lot Could you tell me the logic behind this? Ramesh S Damani : Stocks routinely outperform the index. Any recent news on Sun? PSUtime : Please reply, once again asking you for smaller names in the ITES industry-then we can get more details from NASSCOM site or the company websites. Ramesh S Damani : Ultra marine pigments (80) Carborandum Universal (150) both have ITeS business. AnandB.Bhatt : , Thanks.Sir a fornight ago I asked you if I can average in Geometric at these levels since most of my shares bought are in the 450 range?It was in that range for many months.You advised against buying at these levels for sometime.When do you think fresh buying can be reconsidered? Ramesh S Damani : When the counter tells me. At this time I am just watching it. Joy : 3rd times Rameshji I bought Atul at 49,Century Enka at 98 and punjab Communications at 51 and Nocil at 13.35.Please Guide.Regards. amesh S Damani : I do not follow these stocks. I would avoid Punjab Comm. vishal : any suggestions on geshipping pls Ramesh S Damani : Good and safe. I own it. nuewatstocks : sir what is the biggest lesson you have personally learnt from these stock markets.....and one stock which gave u nightmares Ramesh S Damani : MTNL -- lost lot of money in that. Biggest lesson. Have some conviction in what you buy. That is the way to make serious money. RICKY : PLEASE PLEASE PLESE ADIVCE MY HOW IS JCT / GAIL / SUN PHARAM / WELSPUN / BHARTI TELE / NEYVELI / TATA TELESERVIES / HOW DO YOU RATE THIS STOCKS Ramesh S Damani : I like GAIL, Neyveli, I would hold Bharti, Welspun, Tata Tele. Kocharr : BEML after you recommended has posted a poor result.. and is till languishing at around 80+ do you think it is a good pick at this levels? Ramesh S Damani : Generally it is a Q4 company. windfall : DAMANIJI COULD U EXPLAIN ABOUT SUDDEN FALL OF MOSER BAER WITHOUT ANY SIGN ABOUT THE FALL AND DO U THINK THAT THE FALLING TREND CONTINUES IN THIS SCRIPT Ramesh S Damani : I think the auditors resigned, that will create a cloud over the company. Anjali : sir today i have Rs 40,000 which are the stocks i can invest and expect 20 % return Ramesh S Damani : There is no assurance of 20% return in the markets. Thank you. |