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'Market should resume upward climb in Oct'Mumbai, September 23, 2003: 'Despite bad news on HPCL, I think PSU stocks would shine,' says Ramesh Shrichand Damani.Anand : Sir Market is up today Where r u? Ramesh S Damani : Hello everyone thanks for joining. Let's start. sureshmakhija : sir what do u think abt the future of chip design as all teh mncs are setting their centre in india like intel, motorola ,texas instrument cadence ,synopisis . Ramesh S Damani : It is high value work but the only way to play it is MOS-chip. sudipto : Sir what is your view on the market ? had it bottomed out or the process of doing so.Sir Please ask rediff admin to put your page regularly. last time they delayed for 4-5 days. Ramesh S Damani : I think the market should resume its upward climb in October. Despite bad news on HPCL, I think PSU stocks would shine. sudipto : Sir what are your picks in the last 2 weeks ? I bought tisco at 251 & sbi at 402, nalco at 106. What is your view ? Ramesh S Damani : They all look good to me. ashah : Mr. Damani What is your analysis after looking at the balanceshit of Max India Ltd... Ramesh S Damani : I am impressed with the balance sheet. It may be 2-3 years away from large profitability. However the insurance business will be a good gusher. sanujkadavil : sir why rajastan syntex not getting ant support.is there any problem in buying z group shares.are you still bullish on rajastan syntex for long term. Ramesh S Damani : Nothing has changed since I recommended it. Investors must learn patience and not wait for immediate price movements. VIKAS : INFOTECH ENTERPRISES : After bagging USD 48M from Bombardier will change your outlook towards this co.Please comment how significant is this deal Ramesh S Damani : It is a good and important deal. Bombardier is a significant client. Management however has not been the best. kcs : what are the prospects for KOCHI refineries, Bongoi refineries? Can we accumulate them now? Ramesh S Damani : Kochi is doing well and should continue a good dividend. Boingangon refinery is also on a roll due to tax advantages. arora : mr.damani--- which one shall I chose among thes--Padmalaya tele, Sri Adhikari bros. Balaji tele, Crest communications? Ramesh S Damani : Balaji has very strong financials and market position. I would pick it. I own it. Also they pay huge taxes a rarity in this business. BASANTMAHESHWARI : Ramesh Babu I hold Mphasis BFl do you also own it?Your view Ramesh S Damani : Hi Basant. No I don't. Somehow I find McMillan, e-serve and Tata Infotech better value for my money. sanujkadavil : sir last year newcastle bought 25% stake in ub.but when we looking shareholding pattern in bsesite.we canot see their holding.why??can i buy ub at 100 levelk.is any potential for the stock Ramesh S Damani : The share transfer will take place this year. It is a great bet for patient investors. Also Maharashtra has liberalized distribution of beer. It should provide a big boost. I own it. IINVESTOR : HINDUJA TMT - SIR, OF LATE YOU HAVE BEEN MORE POSITIVE ON THIS STOCK. CAN IT BE BOUGHT AT 205. COULD YOU PLS ALSO LET US KNOW THE REASON FOR UR BULLISHNESS. Ramesh S Damani : I have been and added it to my trading position. Things are coming together (cable, telecom and ITES). Value looks good for a trading call. rakesh : Sir,In one of the business newspaper they have reported that the dispute between Malya & Chhabaria is at the verge of settlement. What is your judgement on this? Ramesh S Damani : They dilly dally too long. However eventually it will get settled. UB Holdings is a dark horse. RAMYA : somebody pls tell me about omax autos i bought it at Rs.82 Ramesh S Damani : Auto ancillary stocks are doing well. No specific news though. Ahmedabadguy : Sir As you feel Market will shine up in October..Do you feel that most of the gains in the bank stocks has been achieved and if one has identified them last year and sitting on a neat prifit then may be it is about time to book profits on every rise and explore new olternatives????/ Ramesh S Damani : I think it will do okay. I would hold on to the banking stocks especially if I like them. I don't like all the PSU banks. Some are very poor quality. sureshmakhia : sir according to peter lynch to pick a multi beggar u need a common sense and u can pick it from mall or from u work placeseeing that that i feel that bahrti tele will be a great byas everyone is goin for a mobile and now its is become a neccessity then status symbol Ramesh S Damani : Your logic is correct. However, Bharti in terms of m-cap is expensive. But I think for the next 8 quarters they could show increasing profits and in this business fixed costs are high and variable costs can be covered easily. I own some. salimrethada : Sir, I m talking with u for the first time. I want to know about the future of Tata Chem, Welspun Gujarat, Essar Shipping in stock market. Ramesh S Damani : Thanks for logging in. Welspun Guj is in the news due to large orders from GAs and oil industry. Tata Chem benefits from a commodity boom. On Essar I don't have any view. AmarnathGupta : Infosys is going to announce its result on 10th of October. I think that will set the benchmark for the Software Stocks, looking at various website it looks like that Infosys is going to announce good result coming forward? you have not shared Your views. Any turnaroun co. that you think will going to announce much better result compare to last result? Ramesh S Damani : Volume growth will be good. However, pressure on margins remains (pricing and dollar). It may be good for trading but not for investment at this point. sureshmakhia : sureshmakhia says, damani sir what do u think seeing the growth in chip design one should go for moschip as its is only player in market Ramesh S Damani : They are the only listed player. However, I am not sure about the fundamentals. kvg : sir,do u think Madras Fertilizers disinvestment takes place. can i invest in Ipca labs , suven pharma Ramesh S Damani : It looks hard at this time. IPCA and Suven I own but would not buy at current time. bluesandballads : once upon a time compudyne and it&t were heavily discussed companies in your chat.Are these two companies contl+alt+del? if so why? Ramesh S Damani : They have fallen by the wayside. sanujkadavil : sir what about mcdowell.mr mallya spends money for buying aircraft.and race horse.he is not keen with shareholders.how he can unlock mcdowell value.what type of unlocking you are expecting.this company going to not investor frendly.what is your call on that Ramesh S Damani : I can only say that you cannot get 25% on Indian spirits market for Rs 200 cr. Something must give. It is for patient investors like the ones who bought PSU stocks in 2000 when tech was the rage. It is a matter of conviction. abcx : GAIL came down from rs 146/-to rs 122/-Sir, how much time it will take to reach that value? Ramesh S Damani : It has come down. No particular reason though. sanujkadavil : sir why are you recommanding ub holding they have no business otherthan real estate.how can they perform well inthe market. Ramesh S Damani : They have many strategic asset holdings in Aventis, McDlowell, UB etc. Real estate in Bangalore is set to boom and they will securitise it and get rent, lease payments etc. If Mallya delivers it will be great, I understand the value is between Rs 500 cr to Rs 2000 cr. I own it. rakesh : Sir,In your last chat someone was talking about CUMMINS India .I have gone thru' its fundamentals. Looks good.But can't judge the entry level. Should invest now or wait a while? Ramesh S Damani : In a bull market invest if you feel the stock is good. sudipto : Sir this is the forth time I am asking U Do u still hold super spinnig once recomended by U ? Ramesh S Damani : I have booked profits. However, the stock remains cheap. maha : sir, can i pick SBI at this price? in the last one week the scrip has seen some correction. Ramesh S Damani : Yes. rao : what view does your friend rakesh jhunjhunwala have of the market ? Ramesh S Damani : I think he is bullish. siva : Sir, your view on HPCL. I guess, in the worst case, the disinvestment should take place by Dec, 2004 and the price should appreciate around 750 levels. I am encouraging all my friends to invest in this scrip. Your comment on my valuation please. Ramesh S Damani : I think setting a time line is foolish. However, I do believe that all PSU's will be divested immediately. subham : I'm a interested in secondary market. Will u pls tell sir how the price of a stock is decided by any stock exchangr? Is it the demand and supply aspect or many things more? Hope sure advice. Ramesh S Damani : Mostly by supplies and demand. Sometime by greed and fear. Mix of psychology. sanujkadavil : sir what are your hot sectors for the medium to long term.are you researching any specific sectors.did you touch any emerging stories.can u share with us about your latest views for long term Ramesh S Damani : I think the price movements suggest that PSU stocks will continue to lead the market higher. Also may be commodity stocks (steel, oil and gas) I would suggest placing bets in that sector. |