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'Maruti will be an expensive IPO'Mumbai, June 10, 2003: 'I think it will do well especially at the opening considering others like CanBank and i-flex,' says Ramesh Shrichand Damani.kiran : hai,how are you Ramesh S Damani : Hello everyone thanks for joining. Let us start. baracuda : with so many hotels already there and verry body selling rooms at adiscount do yu still see a upside inindian hotels and should we still buy it atcurrent prices Ramesh S Damani : Check out the market cap. It is still around Rs 800 cr or $150 million. Too cheap for the largest hotel chain. I own it. baracuda : the textile outsourcing theory is gaining strenghtso would yu recomend indian rayonand arvind mills as good investment candidates Ramesh S Damani : It is attracting a lot of attention. I think it will be around 2005 when the story will mature mayurdamani : Sir, can you tell the sentiment of the indian investors? I can give you the example of Macmillan Industries. Today was the day of correction after a long time. Actually, the scrips which had participated in the bull run should have been corrected the same way, but there are some scrips like Macmillan which had not participated in the bull run except for Monday, but was also treated in the same way. It rose Rs. 10 and it fell Rs. 8 today. Why do not they treat this share in proportion to the rise in its value during the bull run? Ramesh S Damani : That is not the way the markets work. It is an art not science. Also McMillan touched a bottom of 125. It is up almost 50% since that price. Don't take rise and fall too personally. Ajit : What are the best picks in the Indian pharma sector? Also, are SBI, HPCL, BPCl and MICO good at today's prices? Ramesh S Damani : They all look good as investment candidates. I own the first two. vikas : Please Guide us thru MACMILLAN and TATA HONEYWELL as both are not expected to be impacted by strong rupee. Can we invest at present rate Ramesh S Damani : McMillan earns 80% of its revenue in euro in ITES. So there is no impact. Tata Honeywell is a net importer. So again there is no great impact. amitsbhatia : Sir pl let me know r u looking on some new stocks . i mean any new idea ?? Ramesh S Damani : I recently bought Opto Circuits for trading around Rs 36. They make thermometers used to detect SARS and defence equipment used in the Iraq war. The company should pay a dividend of Rs 3/-. vikas : With strong rupee , can we invest in D-Link and TVS E Ramesh S Damani : It would help them especially D-link. jas : Mr.Damani - Himatsingka's Q4 was good even if FY was lacklustre. Do you think they can sustain the Q4 performance going forward ? The company has managed to improve the margin in this environment ... Ramesh S Damani : Mainly due to strong euro the margins expanded. When growth will resume once again I am not sure. I own it. vikas : Earlier there was excuse that market sentiment is bad now when markt is zooming why E Serve , Honeywell , Mamillan are not responding. Ramesh S Damani : Tech remains in a trough. See Digital etc. Mcmillan is doing well, Tata Honeywell results are due. E-serve is consolidating its strong gains. padmaraj : Mr.Damani please let me know some stocks for medium term investment.Macmillan around 170 shall I purchase in this rate?padmaraj Ramesh S Damani : Looks good at this rate. I own it. Bull : Damanji,Give your valuable opinion for Maruti IPO?How much r u panning to invest? Ramesh S Damani : It will be an expensive IPO. I am not sure if I will subscribe. I think it will do well at the opening especially considering the success in CanBank and i-flex. sbagri : What is the prospect of Goldiam International / Gati / Shree Rajasthan Syntex. Ramesh S Damani : They all have good prospects. Shree Raj seems cheap on market cap. Post 2005 they will attract investors' attention. I would buy at current rates. vikas : E-SERVE : When there was gain ? T.HONEY and INFOTECH : When results are due? Ramesh S Damani : When index was 4500 e-serve was Rs 150. It climbed to Rs 650 and is since consolidating. sanjay : how much upside do you see in SBI from now on? Ramesh S Damani : The stock remains a favourite of mine. I would invest in it. I own it. narayan s : i want to know how long should we hold balaji & gail kindly tell approx time period Ramesh S Damani : I have no time period. These are trading stocks. Currently they look okay. mak : where do you see divi's in 3 months Ramesh S Damani : It looks fully priced at current levels. Tamizharasi : Sir,I am a small invester can you suggest some shares where I can invest.Thanks Ramesh S Damani : Try McDowell in liquor. I own it. But be patient. mayur : Sir, your two recent picks are great and you have gained a lot along with your followers. Gail and Balaji. Any new scrips in your list sir? Ramesh S Damani : Like I said I bought Opto Circuits and VST Industries. gomsy : sir i had bought calls of bel @ 14.85 on o30/5/03 and sold them yesterday at 13.5 ...now the calls have risen to 28 rupees.pls suggest shall i enter it again..pls tell the time to enter and exit too Ramesh S Damani : That was unfortunate. I invest in it rather than trade. It is hard to judge timing in the stock. mayur : Sir, people are telling that a small company called Nirlon is the next Indo Rama synthetics. What do you feel sir? Ramesh S Damani : I am not bullish on Nirlon. AnandBhatt : Dear Sir,Good evening.What is the latest news on Geometric? Ramesh S Damani : No breaking news. baracuda : after the sab shaw merger have yu sold your share of ub beer at aprice of100 Ramesh S Damani : Not really. With a little luck it is going to be a great company. jas : Mr Damani, how come you don't look at the 2 wheeler industry ? Isn't it a good macro level story if you believe that purchasing power of the indian population is on the a way up ? Ramesh S Damani : Your analysis is correct. They will be the big-ticket items. Ajit : DAMANIJI, YOUR PICKS IN THE INDIAN PHARMA SECTOR? AT CURRENT PRICES WOULD IPCA LABS BE ONE OF THEM? Ramesh S Damani : They have all had a great run, so I would rather watch. No new picks. amitsbhatia : Sir please give me your views on Shahsun Chemicals Ramesh S Damani : Looks well priced at the current time. smallinvestor : SIR, PLS TELL US ABOUT, VST AND OPTO CIRCUITS? Ramesh S Damani : VST market cap is 150 crs. Recently Morocco sold its tobacco company for around Rs 10,000 crs. Morocco has a population of 29million. It is certainly cheap. gomsy : what is price target for reliance at the end of this month...pls suggest me to stay in calls or sell them...i am a looser so i am ending my all trading but i have 14 calls of reliance and wish to earn with ur advice Ramesh S Damani : I am not following the derivative market in Reliance. sharath : Sir, I heard that Opto Circuits is going to declare a dividend in excess of Rs. 3.5 this time. Can we buy at the current rates sir? Ramesh S Damani : At 10% yield it makes sense. aadesh : SHREE RAJ SYNTEX : TEX RECON FUND PLEASE ELABORATE. Ramesh S Damani : The government is finalising a textile reconstruction fund worth Rs 4000 cr. This should be done in about four months times. It would give low interest loans. vikrant : what is your recommendation on ranbaxy and drreddy Ramesh S Damani : I would hold on to both. r : Sir if u had 10 lakhs to invest for 2 mths where wud this money go? Ramesh S Damani : It's hard to time investments. sbagri : Are u still hopeful of UB / Kingfisher / Mc. Dowell / Man Industries / Solectron Ramesh S Damani : Yes. They have done well. rahul : Given that our Stock market is not very well matured. As an investor how much return should one expect if I am investing directly in stock markets? Ramesh S Damani : No clear answer. You should try for 20 per cent returns p.a. sbagri : Sir VST industries is prices at 113/- is it for trading or investment. or u are talking of vst tillers Ramesh S Damani : No VST Industries. I am going to think about it. aadesh : SIEMENS, ABB WOULD BE BIG GAINERS BECAUSE OF ELECTRICITY BILL. DO YOU AGREE?? Ramesh S Damani : Yes they would. Anandk : Sir I would like to know more about GAIL. there are some rumour about deregulation of prices on gas. If it will happen than co. can sell at market prices. it will benifit the co. Also gail hold a large Qnt. of ONGC. At present oil co. world wide is doing well. Should it be a good long term story? Ramesh S Damani : It could. It is cheap but with a good stable business without competition. However, it is too early to tell. sbagri : Out of these whic one is a buy at current price - UB / Kingfisher / Mc. Dowell / Man Industries / Solectron Ramesh S Damani : United Breweries. kamal : No comments from your side on Honeywell and Tata Infotech today. Ramesh S Damani : Let's wait for the results. AnandBhatt : SIR,IN GENERAL WHAT IS YOUR ON ITES IN THE NEXT 6 MONTHS taking into accout Re/dollar,pricing pressure and all other -ve factors.ARE YOU UNDERWEIGHT OR OVERWEIGHT? Ramesh S Damani : The industry is going through growing pains. AnandBhatt : Sir,I hold Alstom which is at 35?Is it worth holding.I gad bought it before the bill was passed at 30.Is it worth holding on?Pls advise. Ramesh S Damani : Good. Glad that worked out. It is going great guns. No view at this time. StockLover : Do you think it would be advisable to keep e-serve between 25 to 30% of a stock portfolio ?!? Ramesh S Damani : Seems too high to begin with. It could get to that proportion. Shailesh : Sir, I would like to know your views on Tisco as a stock. Do you think there is good value by buying it at current levels Ramesh S Damani : I think it is. I own it. pbuffet : stock lover, it is not advisable to allocate more than 10-15% to any stock-- however sure u may be about that company Ramesh S Damani : Diversification is for those who do not do homework. However, you are right in a practical sense. narayan s : last time after the result tata honey fall 16% i want to know whats ur expectation & also tell me about united phosphorus please Ramesh S Damani : I am expecting between 17-18 crs for the full year. I own Tata-Honeywell. manish : do you feel that CNBC has created too much panic in PSU banks Ramesh S Damani : No pbuffet : damaniji-- whatever happened to those who had done homework and had put their money in DIGITAL GLOBAL SOFT and INFOSYS?-- only diversification can save u there Ramesh S Damani : If in 1993 you had done your home work and bought Infosys you would be laughing to the bank even today. tigershark : homework cannot be done by sitting at home but also yu cant expect us to visit the cos we buy to see what they are exactly doing so why not diversify Ramesh S Damani : It is not that great a help to visit a company and management. It helps but the management often tell what you want to hear. Figure out a sector and then buy the best in the industry. smallinvestor : (12th time)IOC, pls give ur call and expectations Ramesh S Damani : It has too large a market cap to interest me. Also I don't like public sector monopolies. subodh : Are McDowell and Shaw Wallace future multibaggers ? Ramesh S Damani : I would like to think McDowell. rahul : I follow the DOW, NASDAQ & BSE & European markets. Whenever there is a up and down movement in the DOW & NASDAQ there is a solid reason, it may ne due to some report that has come out. European market just imitate the DOW & NASDAQ. the BSE Sensex however does not have such criteria. It goes up when it wants and vise versa. The element of gamling is more in our market. Please comment Ramesh S Damani : I would not agree. The market has a variety of reasons - both fundamental and technical -- to move. buffetw : damaniji- buy the best and the worst company in the sector????? Ramesh S Damani : The best (winner gets all remember) the worst (because the marginal gains are the best) use that hypothesis and check out any boom. In cement ACC & Gujarat Ambuja are best, worst is Priya Cement, Birla Corp. In software Infosys and Wipro are best and worst are Sivlerline, DSQ. MATHEWS : Sir, excuse me, but would you say that this is a good time to sell BPCL/HPCL? Ramesh S Damani : I am bullish on HPCL. BABU : It is laughable to say that one should have invested in Infy and Digi in 1993... That means nobody could invest in any company now.. Ramesh S Damani : I miss your point. tigershark : is that the rationale why yu have bought shree raj syntexis it the worst in the textile business and which is the worst liqour co Ramesh S Damani : I disagree. It is a fairly well run company available at a through away valuations. BABU : In that case one should have invested in Bajaj in 1983 and tata's in 1890 Ramesh S Damani : Definitely Bajaj in 1980. vikrant : I HAD SHORT INFY BEFORE THE RESULTS AND AM LAUGHING ALL THE WAY TO THE BANK IN JUST 3 MTHS I WILL DO SHORT INFY AGAIN MY TGT IS 1600 AND I WILL ALUGH ALL THE WAY TO THE BANK Ramesh S Damani : Good for you thanks all for joining. See you next week. |