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'I am bullish on the market'Mumbai, October 21, 2003: 'I think the correction will continue for some time,' says Ramesh Shrichand Damani.Radha : sir i have ongc150@602 and bpcl@327 can i have ur call Ramesh Damani : Hello everyone. Thanks for joining. Let's start. ONGC appears well priced to me, BPCL looks good. samy : Sir, Is it the right time to enter IT Edu sector? If s pls guide Ramesh Damani : I think so however we have few players other than NIIT. chanda : you are very candid now BEL,,SONA STEERING SBI RELIANCE your call please hold or sell ot trade????? Ramesh Damani : I like SBI and BEL of the ones mentioned. I own it. anupta : Sir today i added SBI @ 490 tisco @ 340 morgan stanley GF @ 13.20. Did i bought those too early? Sir I have 200 hpcl @ 365. Shall i still hold them or convert them to sbi tisco morganstanley Gf etc. What is yor view on HPCL now.Is it worth holding now or we should exit it. Ramesh Damani : I think the correction will continue for some time. It seems like a first full-blown correction. ankit : Sir,I am holding 1500 sh of E-Serve.Results are out.Whats your view on it. Good or excellent? Ramesh Damani : Sequential results were poor. Corresponding results were good. However, I still am worried about margins due to rupee appreciation. narayan singhi : i have 1000 godrej consumer at 120 should i convert it with godrej ind or not please tell me Ramesh Damani : I like and hold both shares. No preferences. chanda : goodyear{i] pl advise i have them at 54? now it is 45? Ramesh Damani : I think we need to give them 3 or 4 quarters to turn around. It takes time. udday : Sir, can we hold Opto and Macmillan at the current levels? They both were strong in this falling market? Ramesh Damani : They look good to me. vikas2 : What happened to E-SERVE , why it has fallen after result. How do u analyse result specially MARGINS which u wanteed to look Ramesh Damani : Margins are to worry about till the rupee stops appreciating. They may have hedged exposure for the current time so we can't say. Radha : sir ur call on tisco,tata power ranbaxy,sbi,hdfc bank,cipla as iam holding this stocks please advice Ramesh Damani : I like and own Tata Steel, Tata Power, SBI and HDFC. Rambaxy will do well and I would hold on. BASANTMAHESHWARI : I hold a decent quantity of Pantaloon since the Rs 50 levels. I would like you to answer this one.Should I partially sell so as to make the cost of holding nil or should I just ride the retail boom The pressure to sell partially is very high but then one may miss the real ride..The McKinsey story on retailing seems to be getting better each day.I also hold Trent .Do you have trent by any chance. Ramesh Damani : I was not comfortable with Pantaloon at 50 so I am unlikely to be comfortable at current rates. I would be careful in it. ankit : Sir, Re E-SERVE..Is it a hold @ this level or to boob partial profits? My average cost is Rs 430/share Ramesh Damani : If you are scared by dip in margins as I am expecting, book some profits. vikas2 : Macmillan, Mcdowell and Infotech results are due tomorrow. What are your expectations Ramesh Damani : McMilan should pose good results. McDowell never does. As afr as Infotech is concerned, I have no idea. BASANTMAHESHWARI : I bought McMilan at Rs 243 levels and wish to buy more should one wait for the results.I will hold it for 1 to 2 years no problem on that.Is the current year expected EPS Rs17 and 04 Dec expected 27.Please comment. Ramesh Damani : My sense is they will do around Rs 20 this year and between Rs 26-Rs 28 in Dec 2004. BASANTMAHESHWARI : ABout eserve A very interesting article in the Hindustan times yesterday says that Rajan&Suman Raheja hold about Rs 50 crore worth of eserve and Satish Raheja about 14 crs.Would you add at these levels or just hold on. Ramesh Damani : They have been holding it for sometime. They lease space to e-serve also. I would not buy at these levels. Ahmedabadguy : Sir Mcdowell anyway don't show good result..Specially now when glass prises are higher..Do you see another not so great result can knock off 15-20% prise from current levels????? Ramesh Damani : They could. However, as I keep saying this stock is for those who look at market cap and not question on earnings. rajesh_ : Sir,Out of Mcdowell and UB which is looking attractive. pl give yr preference. What % you have invested in Liquor stocks. Ramesh Damani : UB is cleaned up and pure player on beer. McDowel is still in play and a restructuring story. rajesh_ : PLease comment on prospects of Apollo Hospitals, Goldium International and VST.Should I hold on or book profits Ramesh Damani : I would hold on to them. vikas2 : 3 yrs back Mcdowell and UB holdings were in 300 range. What is the prime reason for current rate as even during that time also profits were not much specially in Mcdowell Ramesh Damani : Restructuring. Radha : sir ur call on cipla please hold or exit Ramesh Damani : Hold. chanda : if cv lcv dm co.. do well so shoul tyure co.. but as the roads have become better tyre co. may lag behind?? goodyear [i]??? Ramesh Damani : No, vehicle sales will increase. BASANTMAHESHWARI : Ramesh babu is management the only concern at Pantaloon. IO saw their cash flow statement it seems to be negative and would turn around in the second half of 05.Is there speculative element to the pantaloon rally also could you be more open if you may? Ramesh Damani : Take a look at segment wise results and see if they make sense. gopal : sir, godrej industries has low volumes . how will be the results of it . Ramesh Damani : Don't buy it for q-on-q results. This is a large company at a substantial discount. Hold it, it will pay good dividends and over time appreciate. vikas2 : Tata Honeywell : Why u want to hold it when others can give better return. We want to know your logic which will certainly help us investing with patience Ramesh Damani : This call hasn't worked out and I sold some part of my holding. However ITES business is doing well and the controls business should turn around with a surge in capex. rajesh_ : Sir, are you bullish on markets? What is yr advice on markets. Stay invested or book partial profits Ramesh Damani : Market is in full blown correction. It will last more than a few days, however, I am bullish. Ahmedabadguy : Sir my little experiance of graph watching shows mcdowell prise remained more or less 35-55 rs. range for last 2-3 years (very narrow band)and should give atleast 200% return in a year time when it the stock starts moving up.Hopefully wait for that upmove is over and q on q higher tops will be acheived.. Ramesh Damani : I hope you are right. It will happen but not at a time convenient to us. prabhav : Have you followed Onward Tech, they have purchaase banking bus.. from Kale and their results will be out tommorrow. Dont you think it is a good turnaround candidate. Ramesh Damani : I am sorry I have not seen the results. May be next time I will comment. saxviv : sir please answer : sir would you prefer hindalco or tisco.. if tisco then why? Ramesh Damani : Tisco because I understand the steel cycle better. ankit : Sir,In yesterdays Business Std there was a quote by some unknown author,re discovering a multibagger....It's like discovering Madhuri Dixit in her teens...Whats your next "Madhuri"..other than Macdowell(she is having a bad manager/Mallya ? Ramesh Damani : Great question, I keep my eyes and ears open and will let you know.I need to leave early today. See you next week. Bye |