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'Market lacks a trigger'Mumbai, August 13, 2002: 'Unless FII money comes in, we are headed for a rough time. Indian players are left with no funds,' says Ramesh Shrichand Damani.
nkrana : NSE Market hours are now extended till 17:15 Hrs. So we should all expect Mr. Damani thereafter only. deeepsleep : deeepsleep says, Mr. Damani as the result shows Gati might be headed for a 20-25 cr. market cap company from a 50 cr. a month ago..With that my own capital market cap looks like eroding into half also...Sir what to do at 40 rs. prise?Have you reduced your hloding ?? Ramesh S Damani : Have not seen the results yet. Sonali : Dear Mr. Damani, what's ur take on GOLDSTONE Teleservices which has frim market orders for 45 crores in BPO and call center and has posted 75 lakhs profit for a turnover of 3 corores in the last quarter. It is also listed on NSE and BSE Ramesh S Damani : I am not sure of management. Looser : Sir Do you find mcdowell to be added to my purchase at current levels? Ramesh S Damani : I think so. I own it. vikas : why e-serve is in top SELL list of almost all funds? what about u Ramesh S Damani : Management has bought from the funds around 700,000 shares at around Rs 600. vikas : GOLDIAM - is it ex bonus or cum Ramesh S Damani : Cum bonus yet. Win : Sir, what do you think about Moser Baer? Do you follow that scrip? Ramesh S Damani : Broadly, margins of 50 per cent are hard to explain in a competitive market. vikas : e-serve- this should boost the price in near future Ramesh S Damani : It could. Ganesh : Ramesh, is HLL is a buy for long term now? What is the best price to buy? Ramesh S Damani : At Rs 165-170, it offers a good investment for the defensive minded. samira : what do you think about opto circuits, zicom and jupiter biosciences? All have some interesting business opportunities Ramesh S Damani : They do. However, they are unknown quantities with new management. vikas : do you see some stability in the market now and if yes where should be concentrate among all of your shares advised Ramesh S Damani : Market seems in a trading zone. Buy stocks where you have some conviction. vikas : TVS-E and Tata Honeywell - Any news as both has good run last week . what about in future Ramesh S Damani : I recently visited Tata Honeywell and came back impressed. Regular business is doing well and they are making a foray into BPO in the form of engineering services. I am optimistic on its prospects. Win : Sir, Do you still recommend CONCOR? Ramesh S Damani : Yes. deeepsleep : Sir Gati has reduced div. to 25% from 40% after profit has been halved with eps around 4.5 rs.??You still hold full holding? Ramesh S Damani : The courier industry is sluggish. No growth. Under the circumstances, the result sounds okay. Sonali : Hathway Bhawani is the only listed cable distribution company in India. With Cbale Bill now being planned to be an ordinance, is it worth investing in it? Abroad such companies quote at100-200 times their valuation. Your opinion on it from a long term view???? Ramesh S Damani : They do. However, I can't get a fix on the company yet. Hinduja TMT is also a listed cable/BPO player. samira : zurich india and alliance have consistently delivered over last 5 years. which fund house in your opinion is the best? Ramesh S Damani : I basically don't invest with mutual funds. Zurich has a good reputation. jay : a part from ites which secotor u find growth sector specific companies look pl tell me. Ramesh S Damani : At this time, only ITES. Sonali : What's your opinion on Sirpur Paper. It is now buying back its shares at Rs.40 and the results are excellent and it is a consistent dividend paying company with good mgmt. Worth investing??? Ramesh S Damani : If you like the paper industry. I don't follow it. ans : whats your take on GSFC with bookvalue of 140 and GNFC with book value of 55 and GUJIP. which one is a better pick. Ramesh S Damani : GSFC and GNFC could attract a good bid. Looser : Well Sir if courier industry is sluggish and no growth then what is logic behind remaining bullish on Gati..Also personal problems of pramoters are hangover for the company?Do you see it surpassing its high of 90 rs. in the current year?? Ramesh S Damani : Look at its market cap. When growth starts, these companies will do well again. jay : sir which ites i have to invest fresh as u mention tvse/max/macmillan. Ramesh S Damani : Add Tata Honeywell to the list. samira : have you looked at heritage foods? except the naidu factor, there seems nothing wrong. Ramesh S Damani : Not recently. vikas : Do you see Polaris worth buying with 6-12 months prospective Ramesh S Damani : They are doing well I think. Orbitech acquisition helps. Sonali : When Wipro and Infosys and Chrysalis Capital are pumping money into unlisted companies like Spectraming etc, why is IT &T planning for a rights issue due to lack of funds. Can't it align with these bigger players or is it afraid of losing mgmt control? Also ENAM has a close to45 stake in the company. Is it a golden goose in the making??? Ramesh S Damani : It is not ready yet. they need to scale up the business. vikas : There was big news today- USD 10 Billion business is expected from German army and P&G and fair part could flow to India. U see any impact on our techies and if yes which Ramesh S Damani : Infosys, TCS could benefit. Looser : Sir in the last week chat you said you haven't added anything in purchase..Is it the same this week also??? Ramesh S Damani : Like I said, I added Tata Honeywell. sk : Ramesh, at current prices which stocks do u prefer from your recommened list Ramesh S Damani : McDowell, Tata Honeywell, Indian Hotels... all look good for long-term investments. nkrana : Hi Mr. Damani, which one would you recommend buying at current levels: ABB, ABBAlstom, Century Textile, BILT, BEL, BHEL, RIL, Tata Chemical. If not, at which rate range these can be entered. Ramesh S Damani : I don't follow those stocks on a day to day basis. ABB. Alternatively, BEL look good to me. I own them. vikas : MPHASIS BFL - why this is not in yur buy list Ramesh S Damani : Stock ran away. Not bought it. However, the call centre business is doing well. Sonali : Shonkh Tech which is once Ketan favorite has won the tender for vehicle licensing in the states of Guj, Delhi, Maharastra to the tune of 500 crores and is implementing it along with Satyam. With very less floating stock is it worth entering. even a conservative profit margin of 10% would give it 50 crores profit. Also its BV is75 and shar is at Rs.8??? Ramesh S Damani : I don't follow it. Looser : , MR. Damani Do you see this rally as a good exit opportunity as markets in next few month will be very subdued?? Ramesh S Damani : I look at the market in longer intervals. So day to day doesn't worry me. sk : Ramesh pl. guide - TVSE, Geometric , BEMl, Gati, Max, HTMT, Apollo Hosp, Macmian, Kale, E-serve, BEL, Mc. Dowell, It&T, Goldian Int, Tata Honeywell - which one u will recommend buying at current prices Ramesh S Damani : For long-term investments, Geo, Mcmillan, Tata Honeywell, Mcdowell offer good value. E-serve has run up and is consolidating like BEL. Looser : Sir are you still find Tata Tea still attractive? Also your take on effect of Discloser deadline of US Companies and CFE?CFO and its aftereffects?? Ramesh S Damani : It is a cheap stock. Not much downside. I think August 14 deadline is well discounted. Sonali : what's your idea on Nath seeds?? It is in the same genre as Monsanto & Syngenta. Problme is only mgmt and less investor friendly.. Your opinion is warrented as share is at its 52 week low of 13 compared to a high of rs.150 Ramesh S Damani : I don't think they are in the same genre. AnandBhatt : Sir,Should I invest in Geometric and Infotech Enterprisesat current prices or should I wait a while?Pls advise. Ramesh S Damani : Geo looks okay. I am not sure about Infotech yet. sk : Do u mean to say we should come out of TVSE , BEMl, Gati, Max, HTMT, Apollo Hosp, Kale, E-serve, BEL, It&T, Goldian Int - or still u feel some buying can be made in which of the counters - for short term Ramesh S Damani : No. It is impossible to say what to do. However, E-serve and Hinduja TMT has had a good run and are no longer as attractive as they were in September 2001. nkrana : Mr. Damani, if you were to pick 5 stocks for investment, which one those will be and at which range? Ramesh S Damani : Mcodwell below 50. Tata Honeywell around Rs 200. Mcmillan around Rs 180. That should get you started. Sonali : Gati results today in ET project a very negative picture in comparison to previous quarters. Also family struggle for control seems to have had a effect. It is come back to its initial Spet 01 levles of 40-45. Is further down side expected due to offloading by operators. Are u also contemplating such a move as it makes sense to enter it again at lower levels even from a long term or medium term point of view Ramesh S Damani : Based on market cap, it doesn't have too much downside. AnandBhatt : Sir,but you bought Infotech at 325.So was it from a trading or investment view? Ramesh S Damani : Trading for now. Looser : Sir As you said few weeks ago unless FII money doesn't come in the market we are headed for rough time as Indian players are not left with funds..Has the situation changed now? Ramesh S Damani : It hasn't come yet. So the market lacks a trigger. ans : whats your take on compudyne as the company is in news recently and bagging new orders. any rerating. Ramesh S Damani : No new insight. Looser : Sir what kind of Cash portion you suggest to have with oneself to optimise the return in current scenario?? Ramesh S Damani : Around 10- 15% at least. yogesh : sir, tvs electron is still good at this price Ramesh S Damani : Yes. vikas : E-SERVE - but at 600 levels also you were recommending Ramesh S Damani : I did and still own it. However, Q1 results didn't have sequential growth. I have to comment on results. Sonali : EONOUR TECh is another Infosys in the making. Please keep track of it as it has 90% of its revenues coming from Asia Pacifica, not USA and has orders to the tune of 140 crores and has recently taken over 4 local firms. The Rs.2 share is only quoting at Rs.7 and i feel it has a long way to go. Please track it and add it to ur portfolio if u think it fit :-)))) Ramesh S Damani : Thanks. I'll take a look at it. AnandBhatt : SIR,PLEASE ANSWER,I THOUGHT INFOTECH WAS A BARGAIN ACCORDING TO YOU.DO YOU FEEL THE COMPANY IS NOT FUNDAMENTALLY SOUND?ITS STILL CUM BONUS? Ramesh S Damani : Management is is unknown and the ability to scale up is unknown. They are doing well, but you don't have a large degree of comfort. It is for the slightly adventurous. It is still cum bonus. Ganesh : Ramesh, I have 2 stocks for defensive. HLL & L&T for long term. Now I want to retain only one. Which one I can retain in my portpolio? Ramesh S Damani : On a quality basis, HLL. deeepsleep : Sir besides ITES there will be good opportunities ..And as you are having great sniffing nose why only ITES? Ramesh S Damani : I am trying to analyse ITES since I sense a good opportunity. AnandBhatt : SIR,IS KARUR VUSYA STILL CUM RIGHTS AND BONUS.IN ANY CASE IS IT WORTH INVESTING AT CURRENT PRICES? Ramesh S Damani : I still own it, but I am not buying it at current rates. nkrana : Your comments for investment in ICICI Bank and JKBank pls? Ramesh S Damani : Jammu and Kashmir Bank seems cheap, but I don't know about the quality of the portfolio. ICICI Bank is a hold. Sonalii : Ramco Sys is planning a BPO foray. Has it caught your radar yet Damaniji?? Also it is quoting at its lowest in the last 2 years at Rs.130. Problem is liquidity is less as floating stock is less Ramesh S Damani : Where did you read about it? Let me know. Looser : Sir have you followed up with Aplol Hospital Managemnt as you were very happy about company's future after your visit??Stock has comedown 40% (from 140 to below 100)since your visit? Ramesh S Damani : I am still hopeful on it. sk : Ramesh are u still interested with the prospects of ultramarine pigment Ramesh S Damani : Yes, very much. nkrana : Would be recommend buying at current levels in Dimonds/Jewellery Scripts. If yes, which one is your favourite? Ramesh S Damani : I like and own Goldiam. Looser : Sir do you see the current run up in overall market( specially mid cap-small cap after 4-5 years of hybernation) as the first wave of rise and after consolidation the stocks will rise to new levels in next few quaters?? Ramesh S Damani : Let's hope so so. However, market is stock specific. Sonalii : Ramco's Systems annual report and myiris.com news clippings have these plans hidden between results. Ramesh S Damani : I'll take a look. Thanks. AnandBhatt : Does the market lookweak to you?Will we go down to2800?Your opinion please. Ramesh S Damani : It's hard to predict. Market seems in a range. deeepsleep : Sir you siad you see the result season will trigger the upmove in ITES stocks??Well the season is almost over now???? Ramesh S Damani : I say a lot of things. Some come right, some don't. The same as you. sk : Ramesh are u still interested with the prospects of ultramarine pigment Ramesh S Damani : Yes. Sonalii : Atcom technologies which was quoted to be entering into BPO and Call center on these boards has been in news for their promoter selling close to 105 of their stake at their highest of rs.30+. IS this a new fad of stating plans of BPO & Call cneter and statements like Buy backs and luring gullible investors to offload ones shares. Your Comments??? Ramesh S Damani : A lot of poor quality companies are getting in on it. Be careful. deeepsleep : Sir which small caps besides ITES like geometric etc..You feel worth looking into in this stock specific market??? Ramesh S Damani : Geo is still a small cap. sk : Actually just around crash i sold my entire portfoili because i have seen harshad / ketan times how market tanked - so before making fresh commitments i just wanted to be sure whether or not to invest again in these - BEML /Gati / Max /apollo/ Kale /BEL/ It&t/ Goldian - at what prices Ramesh S Damani : I prefer to talk generally on this chat. nkrana : Mr. Damani, would you pls mentioned your website address here pls? Ramesh S Damani : This is the best place to get hold of me. Thanks for joining. Have a good week. Bye. |