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'Glaxo seems a good bet.'Mumbai, April 20, 2004: 'I'am not ready to make a call on Biocon. I would like to see a few quarter results,' says Ramesh Shrichand Damani.skk : hi ramesh,after a long time. were u celebrating or what but i know u were in mumbai only. So why u left us in such a crucial juncture when we needed your guidance the most Ramesh S Damani : Hello everyone. Thanks for joining. Let's start. I was on vacation for a few days. Jeer : Is Biocon at 610 a buy? the P/e is as high as 36 on the trailing EPS basis. How do you find the success of Human Insulin? Thanks for your time.. Ramesh S Damani : I would not buy at current prices. Would watch a few results. Jeer : DO you advice Surya Pharma at Rs 45? Ramesh S Damani : I don't follow it. sunil : HI GOOD TO SEE U BACK IN CHAT Ramesh S Damani : Nice to be back. sunil : SO POLLING STARTED. HEARD THAT BJP WILL COME TOP POWER IS NOW DOUBTFUL WHAT IS YOUR TAKE ON THIS Ramesh S Damani : I think BJP will come back. MALIK : All Analysts are talking of Infrastructure and Power Sector as key drivers and are bullish potential for growth areas .Whether you are also bullesh on the same .If So ,Please advice few stocks on infrastructure and Power Sectors Ramesh S Damani : ABB, Siemens, Tata Honeywell, Nagurjuna Construction, Crisil etc. I own them all. sunil : MARKET IS HAVING LOT OF INTEREST IN SUGAR AS WELL AS TEA STOCKS IT SEEMS. WHICH ONE U WILL RECOMMEND. Ramesh S Damani : In sugar Eid Parry, Upper Ganges and Balrampur are promising. Tata tea and Jayashree Tea look good. I own them both. RajuM : Hello Ramesh, do you follow Krebs Biochem?How do you rate it compare to Bicon wrt to future prospects? Ramesh S Damani : The company is doing well but not in the same league as Biocon. They are having some labor trouble in this quarter. sunil : WHAT TO DO WITH THE NEW ISSUES ALLOTMENT CMC/DREDGING/BIOCON/PTC/PETRONET/ONGC/GAIL - WHAT IS YOUR ADVICE Ramesh S Damani : Book profits other than ONGC. narayan : mcmillan seems to be in a accumulation zone what do u think of its results whether one can buy at current level Ramesh S Damani : Q1 is always strong. I think you can expect about 25% -30% growth this year. I own it. Jeer : How do you Rate PTC? Buy or wait and watch? Thanks for the reply to Bio tech.. I believe we are lucky to have you to understand the market Ramesh S Damani : It has had a good run so no great hurry to get into it. But watch the stock for buying opportunities. MALIK : Please let us know your views on your visit to NELCO.I am awaiting your views on the basis of that i will buy NELCO stock.Please advice Ramesh S Damani : I have not yet got an appointment with them. Ameya : wht will be the impact of postponing IDBI's commercialisation.Wht is the prospect in short and medium term??? Ramesh S Damani : I think the worst is over for IDBI. It seems better days are ahead for the company. pra : the only strategy seems to be sell on rallies. the sensex is finding hard to breat the 5900 levels..looks like irrespective of the political outcome, the markets r headed down. Ramesh S Damani : I have an opposite view. Market will climb higher. That is my view. MALIK : SIr whether you will cal MAZDA CONTROL is also from infrastructure sector Ramesh S Damani : Too small a company to matter. sunil : GAIL ALSO U WILL RECOMMEND TO SELL AT THESE LEVELS Ramesh S Damani : I am holding on. VIKAS : We had strong INFY and WIPRO results and bullish guidance ( do you also think same ), even then there is no movement? what do you think reason behind it. Any mid cap tech looking good to you Ramesh S Damani : I think tech is on the rebound. Keep an eye on rupee appreciation. Among mid cap I recommend a basket of Kale, Crest, Logix and Nelco. nriinv : Now there is a strong feeling that Greenspan will increase interest rates, don't you think it is just a matter of time the dollar will pick up, good for tech companies who have in any case done well. Ramesh S Damani : Yes, but bad for equities, good for debt. Dollar is likely to remain under pressure. VIKAS : Sundaram Finance : Just update us , are fundamentals intact and u hold your view of doubling from present levels in years time Ramesh S Damani : They continue to do well and I would remain invested in it, new business will bear fruit in 2-3 years. Old ones are cash cows. It is for conservative investors. MALIK : Sir , Any new discovery of stocks and dork horse in the jungle for medium to long term.thanks in advance Ramesh S Damani : Take a look at KSB Pumps (MNC), but around 10 times March 04 earnings. Should do well this year. baracuda : what do yu expect from macmillan on 22april qrt results do yu think tyey will also delist after they realise that their bpo division is growing at more than 50% Ramesh S Damani : That is now a risk in all MNC stocks, however if they give a fair price I suggest we tender. BASANTMAHESHWARI : e SErve can we do anything about the arm twisting mnc parents or we just feed them when the tree is ready to bear fruit. Same as in Digital. The Regulator should be up on its toes for these arm twisting techniques.It is tragic. I could not take the news initially. Ramesh S Damani : I feel bad too, but what they are doing is legal. It is a risk in MNC stocks so one should understand that before investing. baracuda : WHAT ARE YU GOING TO DO WITH YOUE ESRVE Ramesh S Damani : Probably tender, price to be decided. baracuda : at a time when there are doubts about a bjpalliance victory calpers has given permission to invest in india how do yu viwe this development Ramesh S Damani : Calpers will help attract huge money to India. It is a big positive. BASANTMAHESHWARI : The 26pc FDI in retail will be bullish for Trent and Pantaloon(still holding both of them). I know your concerns with pantaloon but I recently added to Trent at 215 and feel that the FDI limit hike will do wonders for both the stock. Ramesh S Damani : It is a big plus for the 2 stocks. nriinv : Mr. Damani add up all the FII investment from March 2003, now if interest rates start going up in the USA and dollar starts in climb up, in terms of percentage how much money will take flight out of the country from the FIIs. Ramesh S Damani : Rising interest rates will be a problem, however if they are chasing growth they will come here, that I am sure. VIKAS : TISCO : Contadictory reports coming for steel industry . still you hold your bullish views about tisco and there is rumour about BONUS , is there any truth Ramesh S Damani : Yes I am. I don't know about bonus though. sun : ramesh lot of days had passed before we met today on chat again - which stocks u will recommednt o buy now in this matrket Ramesh S Damani : I bought some KSB, nothing else that I could recommend. nriinv : Yesterday CNN was reporting and 1 cent decrease in oil means 1 billion benefit for the USA and that Bush has made some deals to bring the price down of oil in time for his elections. This will be beneficial to the dollar. Don't you think Ramesh S Damani : I don't think even US President can dictate oil prices. VIKAS : E-SERVE : Is it an end to wonderful story for public . what is the objective of cos. buying back 100% Ramesh S Damani : Avoid public limelight. Keep all the profits. ManojGarg : Damaniji, What is happening to MINDTECK? Your one time young star. The Company appears to be going nowhere. Do you still think it has a bright future ? Ramesh S Damani : It is clearly going nowhere. sashi : sir i see macmillan at Rs.400/- in a month's time based on q1 results. Your take Ramesh S Damani : That would make me happy but I am not that optimistic. baracuda : take a look at vimta labs availble at7times going forward and has come out with good results,contract research out of india will only pick up more appears to be a good story Ramesh S Damani : They are doing a good job. abcd : sir last tow days saw some block deals in UB holding? is something cooking?? Ramesh S Damani : I did see the deals but have no details. juhi : WHAT IS THE PROBABILTY THAT MARKET ALREADY TOP OUT AT 6250 IN JAN 2004 Ramesh S Damani : I would put it at 10%. nriinv : For this Mr. Damani, BJP must really prove after elections, somehow I feel these GDP numbers were rigged for the elections. But BJP will earn respect from FII's only if they maintain this type of numbers. The day they find out these numbers weare artificial kept high they will pack bags. Ramesh S Damani : I don't believe the numbers were rigged. sashi : sir finally mcdowell moving should increase our investments or not Ramesh S Damani : No. Let's watch them. sun : your recommendation for mahindra ugine/ goldiam opto circuit/ mazda /godrej/ linc pen / visual remains as it is. ADD - ADD and ADD Ramesh S Damani : I am selling some Mahindra Ugine. The rest I still like. They should have good results. juhi : your views on rel capital,raymond Ramesh S Damani : Reliance Capital looks like a good trading bet. I recently bought it for trading. asb : good evening sir your views on Morgan Stanley with a price of around 18.50 and dividend of 15% a dividend yeild of 8 % ?? Can it be bought or sir ?? Ramesh S Damani : Great safe bet for conservative investors. I am not sure they will pay a dividend. sun : ramesh, do u feel it is woth investing in sugar and tea. Is it a good bet. Ramesh S Damani : I am buying them as trading bets and see how they work out. BASANTMAHESHWARI : I looked at the shareholding pattern for all mallya controlled liquor companeis. Found that he holds 42 to 49 pc in each of them can we expect an open offer as the promoter holding is not low. ALso heard that Abishek Dalmia is looking at a beverage company for an open offer. If Mallya cannot be done with an open offer how will a persons mindset change it is the shareholders money that he uses toi throw parties in Goa and fund sword purchases. Ramesh S Damani : In the next few years some one is going to write 26% of his equity and make life difficult. Market will have to punish him for his deeds. baracuda : why doesnt 35million cases of alcholic drnks sold by ubspirits division get reflected on the balance sheet of mcdowellplease dont say yu will have to ask mallya that q Ramesh S Damani : Part of it comes from Herbertsons. vvinay : sir, your view on biocon it could be multibagger like infosys in the coming decade also it is not fair to compare its market cap with glaxo as glaxo is grown mature company operating with limited products due to patents Ramesh S Damani : I am not ready to make that call on Biocon. I like to see a few quarter results, Glaxo going into 2005 seems a good bet. Newbieatstock : Sir your views on PTC huge run up, you said it would open with a gap where do you see it going from here. Ramesh S Damani : I think it seems well priced to meet the current time. Newbieatstock : Sir if you had to take a bet on Bharti would you at these levels...... with the hutch ipo and maybe a reliance infocom ipo in the future u see things hotting up for this stock..or do you think it is very overvalued at these levles. Ramesh S Damani : It is not a cheap stock.(M Cap) or earnings. I would not be comfortable buying at current rates. baracuda : morgan stanley has announced a dividend of rs1.5 per unit and the record date is 12may Ramesh S Damani : Thanks, I did not know that. However ex dividend the NAV will fall by 1.5. IndianTiger : Within construction sector, I have concerns about GAMMON management so would like to look at a better managed company - could you please suggest a company with good project implementation skills and with a good future? Ramesh S Damani : Larsen and Nagurjuna Construction are stocks I own. VIKAS : PADMALAYS TELE : After recent animation orders of around USD 20 M , do u think it is good bet in media sector . Already it is trading at less than 5 PE Ramesh S Damani : That order is still not confirmed. baracuda : if some body is going to make life difficult for mallya and his cos then dont yu think it is prudent to sell at every rise Ramesh S Damani : No, they would be trying to increase shareholder value. Amy : how is HDFC Bank after results are declared?? Ramesh S Damani : Sorry, been travelling so have not seen them. What was your view? nriinv : In the West you have high profile arrests made like Martha Stewart, Tyco, Enron. Somehow in India it is people like Malyaa who go scot free with the help of politicians which give a bad name to our country. I am not a lawyer but dont you think we should be able to punish him by law. Or is he manupliting the loophole in our legal system. Ramesh S Damani : Some one has to find him guilty in a court of law. But the market punishes him every day. His marketcap is smaller than so many companies. He will have to change. varun : Considering your not so small a Fan following do you plan to start a Mutual Fund of your own; wherein instead of yr fans buying what U recco ; you buy them on their behalf & exit at the opportune time ? Ramesh S Damani : Thanks but no such plan. VIKAS : KSB : Is it a trading bet or investment call Ramesh S Damani : An investment, it hardly trades. nriinv1 : BEING A NRI LET ME COGRATULATE MYSELF AND ALL INDIANS THAT THESE ELECTIONS WHICH ARE FOUGHT HAVE BEEN WITHOUT ANY SCAMS AND ON PLAIN ECONOMICS. THERE IS A LIGHT AT THE END OF THE TUNNEL, THE NEXT REFORMS WHICH EVERYBODY IS WAITING FOR RESTRUCUTING THE LEGAL SYSTEM. Ramesh S Damani : That is a great thought, and we can all be proud of it. Net is slow, so I am signing off. See you all next week. Bye. |