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'Correction should be used to buy equities'Mumbai, July 22, 2003: 'Low interest rates and tax concessions are building magic throughout the market,' says Ramesh Shrichand Damani.PK : the market seems to be ina correction...how long is it likely to sustain Ramesh S Damani : Hello everyone thanks for joining let us start. That is difficult to say, but the correction should be used to buy equities. manish : Hello sir, do you think Polaris @ 100 Rs now a days is a good long term buy. Also, You recommended Macmillan some time back, Does it still look like a good buy @ 200 Rs (and P/E over 45) today. Can you suggest some long term buy at current prices? I would be grateful for your reply. Ramesh S Damani : McMillan PE on this year's earning is 10. NOT 45. It looks okay to me. I own it. I am not bullish on Polaris. mayur : Sir, did you go through the results of Himatsinghka Seide? Can we buy at the current rates? I think the results were average. What do you think so sir? Ramesh S Damani : Results were good. I would hold on. I own it. parthiv : Congratulations Mr. Damani you predicted a peak of 3750, now what about the support Ramesh S Damani : Thanks it is too early to tell about support though. mayur : Sir, what do you think about Super Spinning, Loyal Textiles, Zodiac Clothing, and Vardhman Polytex at the current rates? Ramesh S Damani : They all look okay. I own the first three. vikas : TATA HONEYWELL : has come out with Q1 with 200% up on QOQ basis. Is it satisfactory. What exactly you are looking in this company by end of this year Ramesh S Damani : My full year projection is around Rs 330 cr and a bottom line of Rs 23 crs. I own it. baracuda : hdfc securities has distrubuted a copy on the projected growth prospects of e serve and they rank it as a market outperformer with a net profit of around 41crsdoes this fit in your calculations and finally it seems to be moving Ramesh S Damani : It does. But rupee appreciation is giving me trouble. mayur : Sir, in this market of correction, Opto Circuits has remained where it was and it was very strong for the past few days without loosing much. What do you think so sir? Can we enter at the current rates? Ramesh S Damani : I think Q1 results will be good. I own it. Interesting company. newbieatstocks : sir last time u spoke about sundaram finance, the consumer finance business in booming so shouldnt icici, who seems to be promoting loans etc more be a better buy than sundaram Ramesh S Damani : Market cap for ICICI is different. sudipto : Sir can we know the list of textiles companies u own now. Please Ramesh S Damani : Mahavir, Vardhman, Super Spinning, Zodiac and shree Raj Synthetics. ANKIT : SIR,THERE WAS A BLOCK DEAL IN CRISIL YESTERDAY. YOU THINK IR IS A GOOD BUY @ THIS LEVEL Ramesh S Damani : For patient investors yes. It is not liquid so make sure you want to own it. Ahmedabadguy : Well Mr. damani we know you are an equity guy and sort of eternal bull but you feel are we in a new phase of a sustained bull market which should last atleast year more or you think we are in upword trend of a long bear market which started post internet bubble bust Ramesh S Damani : I believe the market will correct but we should remain bullish. Low interest rates and tax concessions are building magic throughout the market. sudipto : sir last week i gaveu some info on zenith fibres. did u find anything on vardhman polytex..please sir Ramesh S Damani : Sorry I have not. baracuda : at what level would yu advice investors to buy sbi and have yu changed your outlook on the share now that it is falling Ramesh S Damani : I think at the current rate it looks okay. It should go a long way. I own it. mayur : Sir, what do you think about Gati and Blue Dart at the current rates? Can we but them at this rates. I think the PE is too high. What do you think so sir? Ramesh S Damani : They are cheap according to market cap. They will grow when GNP starts growing at 7%. parthiv1 : Now Mr. Damani inspite of a bull run most tech is at thier 52 week low, dont you think they deserve to perform now. Ramesh S Damani : Mainly due to problems with strong rupee. newbieatstocks : sir what exactly is a hedge fund, which i hear and read about which is selling in the market Ramesh S Damani : Hedge funds buy and sell stocks they move fast and in large quantities. They are the cow boys of the world of investments. ANKIT : SIR, SUNDARAM BRAKES IS ALSO AN ILEQUID BUT A VERY GOOD STOCK AND IS FROM SUNDARAM STABLE.FOR A PATIENT INVESTOR LIKE ME IS IT NOT A GOOD BUY Ramesh S Damani : They own large stake in TVS Motors. vikas : TATA HONEYWELL : 23 CRS bottomline but i remember you said 2004 theie BPO profit will be more than companys full profit. Anyways if company acheive 23 crs u see good growth in stock Ramesh S Damani : BPO is doing well however margins in auto-solutions are still sluggish. Avinash : Sir can u throw some light on prospects of CIPLA ? Ramesh S Damani : They should get good orders for AIDS generic drugs in a Bill that US President George Bush has approved. I am bullish on it. raj : What do you think about i-flex at Rs. 1200.. the P/E ratio is less than 4 Ramesh S Damani : Its closer to 20. harsh : sir i own 10000 shares of andhra petro bought at 6.50 it is at 11 rs sir pls advice i have been trying to ask you this question since the last 4 weeks but there is no reply from your side sir i am desperate i might miss my profits if the rally fizzles out Ramesh S Damani : i am sorry for not answering earlier. I don't follow this company hence have no view on it. vishal : what is your opinion on insurance bets like Sundarama finance, Birla global finance ? Ramesh S Damani : I am bullish on Sundaram. newbieatstocks : sir from these if i wanted to own 2 which 2 and if 3 which 3 mahavir, vardhman, super spinning and zodiac, and shree Raj synthetics Ramesh S Damani : Mahavir and Zodiac. AnandBhatt : , Good afternoon Sir how are you,I have been away for a while.Sir,I bought most of my Geometric a few months back in the 450 range.Things look very good last quarter and you had a lot of conviction in it at that time.Do you suggest I can average now at 300 levels or you are worried about the stock.Pls advise Ramesh S Damani : Margins are under pressure thanks to rupee appreciation. Growth has slowed down (20%), which doesn't make me happy. However I still own it. campari : mcdowell is now planning to enter the country liqour market positive for the co or not your advice Ramesh S Damani : They are and it is good. Radico is a better bet for that. McDowell needs to produce results. The rest will take care of itself. Ahmedabadguy : Sir do you have any update on Infotek enterprise stock??At 109 rs. level your view on the stock please???/ Ramesh S Damani : Still uphill for 1 or 2 quarters. sudipto : sir do u have nay idea on teledata informatics. a good product company, having product in marine industry. pe near to 3. Ramesh S Damani : One of my friends is recommending it. However, quality of balance sheet is not up to the mark. Let's watch the stock. Nikita : people who have missed the last runup in mkt...when they should start investing Sir.... Ramesh S Damani : Some pharma, bank and ITES. newbieatstocks : sir when u invest, and all fundamentals remaning the same how much of a % loss do u generally dont mind , or do u still stay invested and buy more at the lower levels Ramesh S Damani : It varies from company to company. Generally I am a poor seller. I will sell if something fundamental changed that I did not anticipate. manish : sir, can you please tell some good site to research a company. Ramesh S Damani : Start with a Google search and see where it leads you. prashant : Dear sir, I have just started earning..can you tell me which stock is best to invest now ?? Ramesh S Damani : Invest in a index based mutaul fund and start learning about the market before plunging in. sudipto : sir what is b/s ( refer to teledata) Ramesh S Damani : Balance sheet. bharat : sir, FORTUNE INFORMATICS - a product co. is doing well. do you recommend buy on it. Ramesh S Damani : Not convinced about the success of the product. AnandBhatt : SIR,PLEASE ANSWER MY QUESTION.i BOUGHT MOST OF MY GEOMETRIC IN FEB AT 450 LEVELS.IS IT WORTH AVERAGING NOW AT 300 LEVELS OR ITS NOT A GOOD IDEA.PLS ADVISE. Ramesh S Damani : Not at the current time. abhishek : what are the prospects for GAIL? I bought it for 110. Ramesh S Damani : Very good. KR : OKAY GUYS....... in stock markets you have two options to make (or to loose) money.... 1. Go through various stories, fundamentals, analysis, etc... etc... buy a stock and either make money or slain it OR.......... follow this guy named Ramesh Damani... just do what he says, go home and sleep.... most probably you would end up making good amount of money...... he visualises future much before markets could see it... this is just a tribute Damani Sir, thanks for all the advices you have been giving to the investor community. Ramesh S Damani : Thanks for the very kind words. We try. Thanks. SILVERINVESTTOR : GOOD EVENING SIR! I WANT ONE ADVICE FROM YOU. I AM HOLDING POLARIS SHARE. WHAT U ADVICE ON THIS STOCK? CAN I HOLD IT OR WEICH OVER IT ? IF SWICH OVER THEN PLS SUGGES ANY GOOD SCRIPT AGIANST IT.. I AM WATING FOR YOUR REPLY. Ramesh S Damani : I keep recommending stocks on the show. You could go through them something like McMillan may be a good switch. shalini : dear rameshji, what have you heard about mr warren buffet investing in india, specially in energy Ramesh S Damani : I think it is just a rumour. priya : Can I invest in Spice (ETF)SBI ONGC OPto Circuits D-Link at current prices? Ramesh S Damani : Spice, SBI, and Opto look good. rams : sir i have SBI@375 HDFC BANK@274 OBC BANK @169 UTI BANK @70 please abvice me sir if i hold this stocks for a period of 6 monthsplease tell me sir please Ramesh S Damani : I think I would hold on to all of them at the current time. I own the first two. Kannan : Off late lots of news in business papers that HLL is turning week. What is your view on this Damani sir ? Ramesh S Damani : You must invest in FMCG stocks like Lever, Colgate. Don't look at them over 3 months, but 3 years. mayur : Sir, Mr. Matthew Easow is recommending Federal Bank and South Indian Bank for almost the last 10 days in CNBC channel and today also he recommended Federal Bank and South Indian bank as the best bets for takeover. I do not own these two. I own Karur vysya and Karnataka Bank. Shall I switch on to federal and South Indian Bank. Is there any news in these two counters which Matthew Easow is aware of and we are not? Ramesh S Damani : No but South Indian Bank is cheap. I own it. Fed Bank may be bought over by someone like Kotak. AKAR : SIR,EVERY FATHER TEACHES HIS SON SOME SPECIAL TRICKS WHICH NO ONE LESE KNOWS..ANY TRICKS SHRICHAND BABU TOUGHT YOU,WHICH YOU WOULD REVEAL..PLEASE Ramesh S Damani : He got me interested in the stock market and always stresses buying quality in business bets. He was among the first to recommend stocks like Nestle, Indian hotels when they were small companies. manish : I agree with KR, I have followed your advise and made some good money. We all are really grateful to Mr Damani. Ramesh S Damani : Thank you all for joining. I have to leave. Please note: I WILL BE ON VACATION NEXT WEEK SO I WILL JOIN YOU ON AUGUST 5, 2003. |