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'There are no triggers in the market'Mumbai, September 26, 2002: 'Market remains sluggish and in a range. I don't see any great upmove,' says Ramesh Shrichand Damani.
Administrator : Ramesh Damani will come for the chat today at 1730 IST. shamma : your take on themarkets as many suggest that a higher bottom have been formed and will history repeat this year also in october months Ramesh S Damani : Market remains sluggish and in a range. No triggers are available. anaam : Dear Sir, E-Serve has projected 25% growth in revenue. It has shown 59 Crore rev for 1st Quarter.This would imply that it will require to grow by 13% in coming three Qs. I think it is easily achievable & in fact very "conservative" What is your "optimistic" growth target for coming three Qs & price projection in one yr time frame? And who is after todays BLOCK DEAL? Ramesh S Damani : Hello everyone. Thanks for joining. Let's start. E-serve promoters were the buyers. I think growth will be slow this year, but from next fiscal it is going to grow again. rajesh-37 : sir, last time you said that psu's will underperform, in this context i would like to ask you about psu's hpcl,bel,neyveli,iti. i have 7% of my holding in hp and bel each and 6% in neyveli and 3% in iti- should i hold these shares now or i should exit and reenter at lower levels. please answer me as these shares are going down everyday ? Ramesh S Damani : The only one that should perform is BEL. The rest will underperform without divestment trigger. pdsharma : i had bought mc miilian on your recomandation at 300 where should i avg. Ramesh S Damani : I prefer not to average down. Company is doing well and should have an EPS north of Rs 15 this year. Market has fallen also, so let's give it time. Stocks can't go up only. taher : your take on tata sponge can one buy the stockas steel prices are als rising and the comapny showed a good result in the june quater?OR ELSEanyother small stock u recommend to be bought at the current amrkets being ata long term investor Ramesh S Damani : Sorry, don't follow it. Bhagban : Good Evening Rameshji,Should I sell Escorts bought at 62.People say govt. is in financial mess so they somehow need money.And the best source is disinvestment.Does this logic hold good?then should I buy HPCL,BPCL,BEML at these lucrative price or turn the head towards Tata Honeywell,Tata Elexi,Macmillan,Macdowell.Regards. Ramesh S Damani : Divestment is on hold. So I would not be too excited about PSU stocks. The rest all look good value to me. anaam : Sir, Market is so lucrative that I am "thirsty" to average out shares like Macmillan & Bharat Elec. Do you beleave in "averaging" ? Should I average(I am a long term investor)? Ramesh S Damani : If you have conviction, do it. AnandBhatt : Hello sir,GoodafternoonWhat do you think about Tata Elixi?They are in the CAM/CAD business. Ramesh S Damani : I am working on understanding them. Should have a view in 2-3 weeks. parthiv : I have been following Onward Technologies with a price of 24, this prospective Geometric looks faily cheap? Ramesh S Damani : On paper, yes. However, management has not delivered yet, they have been behind the curve. I do own some Onward Tech. Shreyas2 : Good Evening Ramesh Bhai, Do you own Goldiam Int ? If yes,Have you received the bonus shares. I have not received them as yet.I had bought it much before it went Ex-Bonus. Any idea about when the bonus shares will be alloted ? Ramesh S Damani : I do and it should be available in a few days from now. jj : sir good evening, what is your look at apollo hos, promoters has mentioned they are initiating bpo within next mont did you have anu idea? Ramesh S Damani : They are in medical BPO. However, it is a sub and is very small. It is good value for patient investors. I own some. anaam : You are recommneding Indian Hotel but why not Thaoms Cook? Ramesh S Damani : I am researching Thomas Cook. Prima facie it looks good. However, I don't own any shares yet. Ratan : Hello Ramesh: Do u see positives before the Dec CCD meet that can give our PSU stocks and tech stocks a trigger? Ramesh S Damani : PSU privatisation will happen. However, not in the next few months. AnandBhatt : Sir is Tata Honeywell a Heavy Engineering into BPO.Can it get the same rating like EServe? Ramesh S Damani : Probably not. However, it should do well as the BPO business expands. parthiv : Do you think Max has bottomed Ramesh S Damani : Looks cheap. I bought a small quantity today. Bhagban : Rameshji, Thanks for the reply.Just to clear the confution do you include Escorts as also a good stock with oters like Macmillan etc. Ramesh S Damani : It is a good value. Not necessarily a good stock. Ratan : In that case we should seriously look at accumulating BEL on declines as it may continue to outperform. Are business prospects for BEL looking as good as before?? Ramesh S Damani : From what I understand, it looks good. parthiv : Another question on Onward Technologies, with huge reserves dont you think it becomes a value investment already? Ramesh S Damani : Can they grow at 30 per cent for the next three years? I am not sure. Sonali : Hi Damaniji, UR promise the last 2 times of looking into EONOUR TECHNOLOGIES LTD.Please spare time and lookinto it. I have been waiting for the last one month for your report on it. Do NOT DISAPPOINT UR GREATEST FAN Ramesh S Damani : I have not been able to get much information. If I have a view, I will let you know. taher : any three value picks fromu Ramesh S Damani : Buy Himmat Singha Seide after Q2 results are out. It is a good value. nkrana : In the present down trend, what is the bottom level you opine for BSE sensex? Ramesh S Damani : It will test and could break Rs 2900. ritu : dear ramesh sir, pls. tell yr views on Ashok Ley. U were bullish on it around 110. Shd i exit or hold on? Don't dissapoint by ignoring this Q. Ramesh S Damani : Company is doing well. No news however. Ratan : Ramesh you had talked about EILs intellectual assets earlier on CNBC and now it has fallen quite a bit. How is it looking as an investment now for 6-12 months. You had compared it to CMC, if i remember right. Ramesh S Damani : I recommended it around Rs 100. It went to Rs 400. I sold around Rs 320-330. It's market cap at Rs 400-Rs 2400 crores is too expensive. parthiv : If you dont own Infy for example, at what price would you start putting this share in your prospective list? Ramesh S Damani : I own some small amount. It is not cheap enough at current prices. AnandBhatt : Sir,All fund managers are of the opinion that one should be in cash.The view is very pessimistic as they is no trigeer for upside as Domestice funds can do very little and FIIs are dormant.In fact they feel FIIs want to sell but they cant because there is no one to BUY. The U.S markets look very weak.And retail investors cannot be the first ones to pump money in a market,they usually follow after the institutions and there is no sign of that?People advise to exit on any rally and get out.What is your view ?Are you Bearish? Ramesh S Damani : I think if you find good stocks you buy them. We can't worry about the market. I dont think foreign institutional investment money will be coming in soon. Bhagban : Rameshji,Do you track First Leasing.it gives a divident 0f Rs.2.36 (most possibly)share price arround Rs.19.do you have any other cheap stock like this I mean do the same kind of work or any banking stocks. Ramesh S Damani : This is a poor business and a lot of leasing companies have folded. Sonali : MINDTECK is a powerful player in embedded space and is owned by TAIB Bank. It has only 9 Lakh shares folating. Is it a sitting duck for operators???????? Ramesh S Damani : I own some. However, like other stocks, there is no clean growth strategy and poor visibility. citizen : MR DAMANI, THERE IS VERY PANIC NEWS ON TV CHANNEL NOW. MILITANTS ENTER A GUJARAT TEMPLE AND..... Ramesh S Damani : I am hearing it. It could be ugly. Sonali : Geodesic share is jumping from Rs.5 to 60+ and is tipped to cross 100. Looking into it there is nothing but one VC , Mahesh Murhty of repute. What is ur view on it**!!!!*** Ramesh S Damani : Sorry, don't follow it. Ratan : Is market cap of BEL inexpensive? Ramesh S Damani : Yes I think so. pappu : VERY SOON U WILL HAVE NO ONE TO CHAT WITH. YOUR RECO. R SILLY AND FOOLISH Ramesh S Damani : You have the right to log off. Exercise it. prem : i feel geometric is too highly priced compared to eserve. which of the two would you recommend Ramesh S Damani : E-serve is the more expensive stock (on PE, M-cap etc). However, I like and own both of them. AnandBhatt : Thanks a lot.But if you dont see FII money coming in,and with the current state of our domestice institutions what according to you will drive up the markets? Ramesh S Damani : I don't see a great upmove. Hence, just buy good stocks and dont worry about the market. anaam : Sir,Have you had a chance to meet Dinesh Himmatsingka.They have a state of art tech equipment. Good desingning dept. But poor marketing.Any chance he clarified about their marketing strategy? Ramesh S Damani : Not met him. But the valuation is good. rajesh-37 : sir, state psu's like gnfc,gsfc and gujarat mineral have fallen very much from their peaks should i buy these shares as they look cheap or avoid these shares? Ramesh S Damani : The D in National Democratic Alliance stood for divestment, but it now stands for delay, difference and dilly-dally. pooja : do u own himant siede Ramesh S Damani : Yes, an initial quantity bought at current prices. Sonali : 2003 = Year of ITES/BPO. Govt of India is planning to declare and give Damaniji --Visionary Share Broker Award ;-)) Ramesh S Damani : Thank you for your kind words. pooja : sir your take on tata chemicals Ramesh S Damani : I don't follow the chemical industry day to day. Sonali : FrontlineSoft, which is listed on HSE has sold 26% of its stake in BPO to Softpro for 3 crores. Both are listed compnaies and Frontline has AMex as clients. PROBlme is liquidity. What is Ur OPINION?????????????? Ramesh S Damani : No idea about the deal. pappu : THANX BE POSITIVE WE ADORE U SUGGEST SOME MINDBOGGLING STOCK Ramesh S Damani : Thanks for signing in. See you all next week. Bye. pooja : WAT SHOULD AN INVESTOR TO AT CURRENT LEVELS? Ramesh S Damani : Buy good stocks, have conviction and don't worry about the market too much. pdsharma : recomand me some financial/stock investment books Ramesh S Damani : Try One Up On Wall Street or the Warren Buffett wayor recently. A peice of the action. |