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'SBI is a benchmark bank'Mumbai, September 9, 2003: 'Because of its quality the market will give it a premium. The second in line is Karur Vysya,' says Ramesh Shrichand Damani.minianil : Sir, your views on Godfrey Philips Ramesh S Damani : Hello everyone thanks for joining. Let's start. It is a cheap stock with a good yield. I own it. I think tobacco stocks are getting re-rated. It is good at current levels of 400. anaam : Sir,In our last chat session I had requested you to look into the balance sheet of CUMMINS India.Did you get a chance? How is the book Tomorrows Gold by Marc Faber? Ramesh S Damani : A friend send me a copy, I am looking at it. But market has kept us busy. My friends told me that the story is a good one. Tomorrows Gold is a great book mahesh : i have taken 2000 sh raj syntex at 9 now its 7 should i buy more Ramesh S Damani : I have made a token investment and now I am going to wait for further news. PARTHIV : There are press reports that Mr. Damani is predicting the sensex to go to 6000. Is thay you Sir? Ramesh S Damani : A bull market should take out that level of the index. rrd : Dear Sir,What is your view on CMC, Tata Honeywell and Max India Ramesh S Damani : They all look good but have under-performed the market. I own all three. sanujkadavil : sir our favourie pick rajastan syntex down over 25% in last 5 days.but we are ready to wait.shall we expect a run like bel,e,serve Ramesh S Damani : Nothing new. Let's wait. It will take time to unlock value. mahesh : u have told that i will take a look at 400 gor bel any price target for e serve in your mind Ramesh S Damani : BEL could earn Rs 50 this year. Current market cap is Rs 4000 cr. Turnover should come in around 3300-3500. The stock is getting expensive. However I have not sold it yet. baracuda : do yu see pharma as the new growth story similair to what tech was in1996 and if so what would your top picks be have yu looked at aurobindo pharma Ramesh S Damani : It looks like Indian pharma is going to out-perform. However I own Dr Reddy's and IPCA. My coverage of the sector is poor. sanujkadavil : bel now onwards operators hand .if u not enter below 250 dont look it.get away Ramesh S Damani : BEL is having a great time. However it needs to catch its breath. I own it. baracuda : shree raj syntex has been sent to zgroup so what is your strategy now Ramesh S Damani : That is a BSE decision. It is unfortunate. PARTHIV : Also in the same report you have mentioned that FIIS are buying stocks and selling futures, is this dangerous Ramesh S Damani : Yes. Because this implies that weaker buyers are in buying future contract and they may be sellers at the end of the month. gopal : sir,How Hinduja TMT is looking for u . it has not participated in the rally Ramesh S Damani : The company is seeing some overhand. It looks good to me around 200. I own a small quantity. mahesh : tell me about e serve 200 ar 620 & 1200 godrej cons at 121 should i hold it Ramesh S Damani : I would hold on to it. I own it. jayanthi : Damaniji, How is Welspun Gujarat looking to you Ramesh S Damani : Good volume today and Ii think the momentum players are punting on it. sanujkadavil : sir have you tracked gujarat state psus they are doing well,and managed,if modi starts reforms we can expect a good run ..they are big psus .will u loo k it for long term Ramesh S Damani : GSFC, GNFC and Gujarat Mineral seem to be the best. I have not heard any news on the divestment program. kpanil3 : please give me your opinion on MRPL and Kochi Refinery Ramesh S Damani : Kochi is doing well and should pay a good dividend this year also. gopal : sir, can we invest in Suven Pharma,alembic chemicals. Also give some idea about orient info Ramesh S Damani : They have a good run and I would not buy them at current levels. I own Suven. kcs : sir, how is IDBI looking for you? Ramesh S Damani : No view at the current time. jayanthi : Damaniji, Is there any relief for investors in Mcdowell or they have to suffer from Mallyas hangover Ramesh S Damani : Not yet. sanujkadavil : sir what u mean by z group shares.why rajastan syntex sent to z group.management making any fraud.did u know about the management how are their abilities Ramesh S Damani : It is a BSE decision. Management is good in my opinion. SLInv : Any chance for Eserve to touch 1000 before the end of the year ? Ramesh S Damani : I hope so but I don't know. smallinvestor : sir, u have always been recommending SBI, why not Bk of india, which in number and cheap, pls tell us about bk of india? Ramesh S Damani : SBI is a benchmark bank having much better quality than Bank of India. Market will give a premium to the bank. mahesh : will u recommend bharti at current price Ramesh S Damani : I would take an initial position. sanujkadavil : sir what is your expectation of mcdowell for 1 year.my frend told that it has the potential to go 500.what is the reason for that Ramesh S Damani : You cannot get 35% of Indian spirits market for Rs 200 cr. Sooner or later value will be unlocked. It requires patience. vn1 : Sir, do you recommend Glen Mark/IPCA at current level Ramesh S Damani : May be Glenmark. I own it. amitsbhatia : good eveing sir at current levels do u think mkt need a steep correction and is over heated and please give your views on steel sector. ?? Ramesh S Damani : I think it is due for one and it will happen soon. Steel has had a good run but I would take some profits. vn1 : Sir what is outlook on HPCL/BPCL/ONGC from the current level..Hold? Ramesh S Damani : Positive on HPCL and BPCL. vn1 : Sir what is your take on Lupin at current levels? Ramesh S Damani : If you are a trader book profits. Long term I understand the company has got its act together. I own it. sanujkadavil : sir zodiac has 8% stake in shoppers stop.they are going for ipo.ant impact for zodiac in short term.can i buy it now Ramesh S Damani : I think it is a good bet, I own it. amitsbhatia : sir in current mkt r u recommending any news on basis od dividend yeild or other price vice Ramesh S Damani : Godfrey Philips has 17.5 div on price of Rs 400 vn1 : Sir, what is your take in ONGC? Ramesh S Damani : Too expensive. anaam : Sir,It is because of your of Sri Damani I had invested in Atlas Copco.After several years because of bonuses I am still holding these shares. It is now avaoialble @ rs 257/- PE of 8. I want to add few more into my portfolio if you advise..Your view please? Ramesh S Damani : They might be delisitng, so it may not be a good idea. VIKAS2 : aGAIN : dOES IT MAKE SENSE TO SHIFT FROM hONEYWELL TO mACMILLAN Ramesh S Damani : These things are hard to predict. But if you put a gun to my head I would say McMillan. sanujkadavil : sir do you have any idea about atul ltd.arvind group company Ramesh S Damani : Cheap stock but still the business plan is weak. vn1 : Sir, when is the judgement in HPCL expected and what is your take on the judgement Ramesh S Damani : It should favour the government. The court should not take executive powers. vn1 : Sir would it be a wise move to shift from ICIC/BOI to BEL Ramesh S Damani : Not a time to switch, book some profits or sit tight unless you have a specific reason. gopal : sir, Any idea about Orient info Ramesh S Damani : No view. sanujkadavil : sir southindia bank p.e is only 3 dividend yield 5%.banks .head quarters near my house(8 k.m.)what is ur call on south bank Ramesh S Damani : Bullish amitsbhatia : sir i been a small and a caustious investor which u would recommend to invest ?? Ramesh S Damani : Invest in a index based mutual fund. jayanthi : Is morepen labs one of the must avoids in pharma, damaniji Ramesh S Damani : I have never figured them out. Dams : Your Views on i-flex Please. Ramesh S Damani : Looks good. Ahmedabadguy : Mr. Damani it was great to hear from you for macmilan at around 165 levels few months ago as now bottomed out little risk investment......Does Max India has come to around that comfort level now to you?????? Ramesh S Damani : Max, NYLife are investing Rs 300 cr. Yet the market cap of the company is Rs 220 cr. Earnings are still spotty so make sure you are patient. smallinvestor : after SBI, which is ur next pick in banking? Ramesh S Damani : Karur Vyasa Bank amitsbhatia : Any views on Procter & Gamble with a dividend of 20 rs and bonus would u recommedn to buy .. |??sir i would like to invest in stocks only ?? Ramesh S Damani : It is a good bet, I agree. smallinvestor : but KVB is not in bse? Ramesh S Damani : It is. Vivek : Sir which bank would you think over as take over candidate. And your view on reliance capital also please Ramesh S Damani : Federal Bank, South India Bank, Karur Vysya Bank are all targets. No view on Reliance Capital. gopal : sir, what is your view on FDC, pharma scrip Ramesh S Damani : Good. The company is doing well. anaam : Sir,Last time I asked you about CRISIL it was rilling at Rs 340. You advised me that it is for patient investor. But it seems to be in accumalatin phase. I had a good gut feelint about it and I added few more shares in my portfolio. In view that 100 more IPOs are offing I am still tempted to add more in my portfolio.Give me some more "courage" Ramesh S Damani : Certainly go ahead and add. Debt markets will be huge in India and they will all be rated by CRISIL. Also they will get BPO work. Be patient and you will do well. vn1 : Sir there is no movement in BOP. Are you still bullish on it. Is it a short/med or long term call. Ramesh S Damani : I remain bullish. vikas3 : MACMILLAN : With projected EPS 21 , it deserves PE 20 and therefore in range of 420 . Am i right. Will it reach that level Ramesh S Damani : In a low interest rate environment, companies with high growth will do well. Market needs to discover the stock. Ahmedabadguy : Sir, Atul is leader in Textile chemicals and may be declare a future growth plan in exports too...With 2 rs. div and prise of around 45 rs and that too after reaction from 60 + levels gives good oppo. to accumalte as worst may be over for the company????? Ramesh S Damani : They do have some capex and it is a complicated company to analyse. They also have a good investment portfolio. rajsh : Sir, What is yr opinion on sensex? Can the rally last beyond november as year end is coming. FII want to book profits and if elections are announced early, then there will be pause? Ramesh S Damani : Near term I see some pain for the Sensex. maha : sir, what about bank of punjab, isit not a target? Ramesh S Damani : Actually it is. vn1 : Sir does BEL have the steam to go on to Rs800. Should one enter now with short term target Ramesh S Damani : I would not trade in it. Ahmedabadguy : Sir in last chat you said radico management. is progressive to unlock investor value..Have you added some radico recently??? Ramesh S Damani : Not recently. sanujkadavil : sir what about beml .asias second largest earth moving company valued only 400crores.can u comment on it Ramesh S Damani : The stock had a M-Cap of 70 crs a few years back. Looks ok. I own it. kpanil3 : Damaniji, your opinion on J&K Bank and HDFC Bank, please Ramesh S Damani : I like and own both. rajsh : Sir I have in my portfolio I have put 25% in ITES, 18% in breweries, 25% in MF, 20% in other equities like banks etc. and and 12% in cash. Pl comment on my portfolio. What should I do any changes. Ramesh S Damani : That looks good to me. Take a look at pharma companies like Dr Reddy and some PSUs. Ahmedabadguy : Sir I saw Indian Rayon annual report and company is very bullish on its all three business segment for this year and then after also..Book value is around 225 rs..Isn't at current level of 170 levels it is a safe bet even if markets gets reacted a bit???? Ramesh S Damani : I think you may be right. sanujkadavil : sir have u tracked manapuram finance.kerala based nbfc.doing well paying 10%dividend.only 10 rs value. u have any idea about it Ramesh S Damani : I have not followed it. rajsh : Sir what portion of yr equity, allocated to ITES and banks?In breweries what is yr order of preference - Kingfisher, Mcdowell, UB PL answer Ramesh S Damani : About 40% in ITES - they have not done too well in this rally. About 5% to banks. McDowell is the largest holding. Ahmedabadguy : Do you foresee markets cooling off around 15-20% in this unwinding of sept. end positions?????At around 4000 levels??? Ramesh S Damani : Too early to tell. But after such a run certainly possible. sanujkadavil : sir you are a long term investor like warren buffet.ur views abd visions are good and spectacular.any visions for long term about ant small cap companies..i think transport corporation can do well once the golden quadriladrel commisions..any ideas or any visions about emerging sectors.if u can please share it for us Ramesh S Damani : Take a look at Gati also. Same family and is a better run company. I own it. Emerging sector I believe is ITES. newinvestor : Sir, Any Hot pick for medium term investment (1-2 yrs)? I am a new investor, pls advise. Ramesh S Damani : Hot tips is not the way to invest. Thank you all for joining. See you next week. Bye. |