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'B group stocks look stretched'Mumbai, July 15, 2003: 'It is best to stick to A group stocks like State Bank of India, Tisco etc,' says Ramesh Shrichand Damani.Kocharr : CMC could be bought at this levels? Ramesh S Damani : I think the IPO will be at lower prices kavitha : Damani bhaiya, i am a great fan of yours what about welspun gujarat, the co has posted good numbers Ramesh S Damani : I believe they are having a good year. Kocharr : What is your opinion on stocks like subex, Kpit and infotech Ramesh S Damani : Subex and Kpit are having a good year. Infotech is still struggling. newbieeatstock : sir 3 months back i had a rough idea which stocks i wanted to buy, however i didnt get into the markets at that time, recently everything seems to have run up and now am very hesitant to enter anything at these levels, any advice Ramesh S Damani : I think the B group stocks look stretched. If u want to stick to A group stocks like SBI, Tisco etc. I own both. narayan singhi : on which ground u have recommended sundaram finance it is in the same category in which mcmillan tata honey mcdowell has i want to know sir Ramesh S Damani : Sundarma Finance is consumer, business finance, which is booming. They pay full taxes and good dividend, it is a long term buy. newbieeatstock : sir can u recommend me some good books on fundamental analysis which can explain to me Pe ratios etc etc the basic tools people use to value companies ..? Ramesh S Damani : Try 'One up on Wall Street' by Peter Lych or go to motleyfool.com Anandbinani : Sir what is your expectation on Geometric result Do u expect any good guidence......? Ramesh S Damani : They have given guidance of 20% for the year. The rising rupee will not help them though. probal : Sir are new picks recently u had bought recently or any new idea ? sie have u heard about zenith fibres ltx, a turnaround story in textile. Ramesh S Damani : Nothing new. kavithab : damani bhaiya, mercator lines with a very low PE how does that co look thanks for ans my q about welspun guj Ramesh S Damani : Let's study the new order that they have got. deep : Please advise on UB Holdings. Is it a screaming buy as most of funds including Alliance have started buying. Ramesh S Damani : I was in Bangalore yesterday, it was booming. Ultimately the value of what they hold will explode. It is valued between (Rs 500-2000 crs), yet the company is valued at around 60 crs. How this value will be unlocked is still unknown hence the steep discount. Kocharr : If we have to exit B group stocks you mean to say that we have to exit KPIT,.Subex , Sree Rajasthan Syntex, Blue star etc Ramesh S Damani : No those are long term bets. newbieeatstock : for a long term view 2-3 more scripts that i can enter at these levels 1-3 years holding , i have started accmulating mcdowell at 48-50 levels. (2-3 more scripts i can study) Ramesh S Damani : Take a look at Zodiac Clothing, McMillan to name a few. newbieeatstock : sir when you "invest" what is the average compunding interest u expect to achieve out of a stock Ramesh S Damani : If you can compound at 20% you will be very rich in 20 years time. Satish : UR opinion on IFCI PLS ??? Ramesh S Damani : Not bullish on it. deep : Tata Honeywell : Are you worried on its continuous fall. Is there anything wrong, is company on track and can we invest at this rate Ramesh S Damani : It has been a big disappointment. Q1 is generally slow for Tata Honeywell. While ITES is doing well the other business is acting as a drag. It has been a disappointment, I own it. narayan singhi : pl tell r u still bullish on opto circuit bcoz i have 1000 shares of it Ramesh S Damani : This quarter the results should be good. may : Sir, you have recommended Zodiac Clothing and Shree Rajasthan Syntex which are at 10 and 14 PE respectively. There are many other stocks in the same sector below 5 PE. So, why only these two in the sector. Ramesh S Damani : Some times you need to look not at earning but at the market cap. Sree Raj has a market cap of 6 crs, turnover of Rs 140 crs. Zodiac has Mcap of Rs 30 crs turnover of rs 150 cr. This does not reflect the earning powers this company would have in the future. Zodiac is debt free too. Anandbinani : Zee Has gone up from around 60 to 118 level but Balaji has gained only 35 to 40 % & came down to 65 level. IS CAS is going to help much to zee? Ramesh S Damani : They have Siti Cable. In my opinion CAS helps Balaji. They can charge more for programming. deep : PLEASE TAKE US INFOSYS AND MASTEK RESULT. WHAT SIGNALS THEY HAVE SENT TO THE MARKET. IS 2ND RUNG STOCKS RISKY WITH MASTEK GUIDANCE OR IS IT ONLY MASTEK WHICH IS IN WOODS Ramesh S Damani : Both Mastek and Infosys are being impacted by the appreciating rupee. However there are lots of good tech stocks around. narayan singhi : sir any idea about revathi equipment cobpressor co. having equity of 3 cr div 100% atlas copco has a stake in it they will make an open offer above 250plus current rate 130 pl tell Ramesh S Damani : Numbers are doing well. sonuprakashkumar : d u think pharma sector will witness a rally & is IT sector loosing it's charm ?? Ramesh S Damani : That seems to be happening. deep : T.HONEY : Means it may come down further like MACMILLAN ( from 300 to 120 ) before giving any clear picture. Would to continue to hold or looking for exit Ramesh S Damani : These shares are not liquid. Over the full year the comapny will do well but earnings are lumpy. probal : Sir i had already given lots of information about zenith fibres. did u see it ? sir what avout vardhman poly..did u see it ? Ramesh S Damani : Let me digest the information. It's hard to understand a company with just numbers. deep : ARE YOU CONVERTING T.HONEY TO MACMILLAN IF NO WHY . Ramesh S Damani : I own a good quantity of McMillan. I need to diversify. Anandbinani : should we give more emphasis to UB holding than Mcdowell, it hold a major stake in Mcdowell itself. As it is mucher Cheaper Stock than Mcdowell. ultimately if one has bought ub holding he is indirectly buying Mcdowell. Ramesh S Damani : That analysis is correct. However generally you want to hold the operating business that is where the appreciation is. newbieeatstock : sir do u know of a textile company called Abhishek industries and if yes what are your views on it. Ramesh S Damani : I understand they are doing well. sonuprakashkumar : lupin's last year performanceis not good. do u still see potential in this stock? Ramesh S Damani : The generic drug story is playing out … clearly the options are there. probal : sir did u got the information about zenith fibres... Ramesh S Damani : Yes thanks. newbieeatstock : sir where would be the best place to get information about companies listed.... can one go about tracking thier business and performance etc Ramesh S Damani : bseindia, hdfcsecurites and myiris.com narayan singhi : tell about nagarjuna construction 5 cr equity 30 % div 600cr order in hand price 65 in construction business ur view Ramesh S Damani : It looks cheap but study the balance sheet for any loopholes. Why is the management not buying if the stock is so cheap. may : Sir, have you heard of a company called Gujarat Heavy Chemicals? It is quoting at around Rs. 23 and last year it gave a dividend of Rs. 2.5 per share and this year we can expect Rs. 2.5 or even more. So, the yield is more than 10%. What do yo you think sir? Ramesh S Damani : It looks good. Also study the industry. may : Sir, can we enter MRO TEK, D-Link, and TVS-E at the current rates? Ramesh S Damani : I like the last 2, and own them. However, I am not buying them currently. The market is moving in another direction. probal : sir last week u told that u will look into vardhman poly? did u got time to do that sir ? Ramesh S Damani : Not yet. Have been asking around but not got a view yet. Sorry. swamys : zodica clothing is at 94????ist right Ramesh S Damani : Yes. newbieeatstock : sir who would be the major gainers when it came to construction of flyoveres and roadsall over india.... would it be ingersoll rand are there any other that would benefit from the construction Ramesh S Damani : BEML, Hindustan Construction. deep : WHAT SHOULD WE BUY IN CURRENT MARKET AS WHATEVER WE BOUGHT ( ITES ) NOT MOVING Ramesh S Damani : Conviction means something. For many years people promised to me that they would not buy PSU stocks. Today they are buying ONGC with a market cap of 75000 crs. It takes time, but I am convinced ITES will change the face of this country. probal : sir your view on lml...i know that u dont like auto industry.but still i need your view ? please Ramesh S Damani : They are cyclical so be careful. Require large capex. Don't make too much money. kavithab : How about GAIL is it a buy or sell or hold, damani bhaiya pls tell Ramesh S Damani : It is a hold and a buy for patient investors. probal : sir any new idea on ites, except e-server, macmillan, honeywell, carborandum universal..i have eserver .please Ramesh S Damani : I partially sold some Carborundun Universal. No new idea though. Anandbinani : Sir Next year is election year here? Market are generally good at this time around. I think BJP might not come again to the power. BUT if Congress will come to the power they have no other good leader than Mr. Manmohan Singh for finance Min. Post. Without Good leaders If they Came to the power it might not be good for us? I know this is very much early to ask but I want you to Correct me? Ramesh S Damani : I am not sure the NDA has too many good leaders besides Arun Shourie and a few others. That is the tragedy of India. deep : Please also advise when should we exit E SERVE / MACMILLAN / HONEYWELL Ramesh S Damani : I hold all three. McMillan and e-Serve are doing well. Honeywell generally has a slow Q1. Full year should be fine. probal : sir can i buy zodiac clothing at this current price. I had already got nahar spg, mahavir spg,vardhman spg, shree rajasthan spg, jct, vardhman poly. Sir please can u connent on each one of them & anything new i should buy or sell any existing ones ......please Ramesh S Damani : If you are bullish on textile these are good stocks to own. Mahavir Spg and Vardhman - good; Shree Rajasthan - turnaround; Zodiac - good at these rates. may : Sir, what about Himatsinga Seide? Can we enter at the current levels? Ramesh S Damani : Balance sheet has just come. Let's take a look and talk next week. Thanks for joining. Bye |