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'Market is caught in a tough trading range'Mumbai, August 30, 2002: 'The future direction is unclear. Players are waiting for some good news from the divestment and UTI fronts,' says Ramesh Shrichand Damani.
DID : HELLO! MR.DAMANI.HOW DO U DO ?TO START WITH PLEASE TELL ME WHAT IS MAIN REASON OF BIG SLIDE MKT.GUIDED BY TECH.WHAT IS YOUR VERY SHORT TERM OUTLOOK .DO U FEEL MKT.TO FALL FURTHER OR CORRECTION COMPLETED IN ONE DAY & FROM TOMMARROW IT WILL BE GOOD AGAIN? DID : MR.DAMANI WHAT % OF MONEY ONE SHOULD INVEST IN EQUITIES AT CURRENT LEVEL AND WHAT SECTORS OR COMPANIES CAN GIVE GOOD APPRECIATION IN MEDIUM TERM Ramesh S Damani : If you are conservative, 55-60 per cent of that 40 per cent should be in IT-enabled. rakesh : there seems to be continued sellign pressure in the markets. what kind of good news do you can possibly cheer the market up now? Ramesh S Damani : If ITC stake is sold in the highest bid and if HPCL is divested, those are the triggers. rajesh : will a new bailout package for UTI take the selling pressure off the market? Ramesh S Damani : Not if its a tax payer led subsidy. jj : DEAR SIR, ITS MY PLEASURE TO CHAT WITH U SINCE LAST 8 MONTH I AM GOING THROUGH UR TRANSCRIPT I RESPECT YOUR POINT OF VIEW OF INVESTMENT SIR COULD U SAY WHAT % OF PORTFOILO SHOULD ONE HAVING CURRENT MARKET SCENARIO AND FUTURE GROWTH WHICH DOES NOT HAVE MAX DOWNSIDE RISK COULD U SAY ANY FIVE SCRIPT FOR FRESH INVESTMENT, ITS MY PEASERE WITH U ON CHAT. THANK U Ramesh S Damani : I own and recommend stocks like Mcdowell and Tata Honeywell in current prices. This should give you a start. Ahmedabadguy : Mr. Damani for a while now market has been testing the patience..Perticularly Two scripts like Ashok laylend and Max do you see them outperforming the market in the currrent quater or you feel they have lost the momentum???? Ramesh S Damani : Not outperforming. Max you need to be patient with its great value, but will take time. Ashok Leyland is a conservative pick. It should have a good year. BASANTMAHESHWARI : Ub is delisted shareholders are to get shares in UB BEER and UB INVEST. My question: when are the shares going to come and when is there going to be liquidity in the scrip. I am Long term on it but then shares that do not trade seems difficult to digest. I had got into UB at around Rs 125 do you advise me to stay put? Ramesh S Damani : It will get listed soon. I think they will do well, particularly UB beer. I own them. ayanshah : Rameshji as you said in July as long as market doesn't break 3100 you are hopeful ..Now after breaking that level in past weeks it is currently around 3100 ..Now what is your view on it?? Ramesh S Damani : Market is caught in a tough trading range. Future direction is unclear. Delna : Last week on CNBC u said money is going into IT enabled and call centre cos. please mention any you noticed?? Ramesh S Damani : There are numerous companies. The one I recently bought is Tata Honeywell doing engineering services. Others are Mcmillan, E-serve etc. I own all of them. dev : Hi Good evening, You favourite-NIIT has been falling from 350,will it ever reagin the lost glory? Ramesh S Damani : Not been my favourite. Delna : TVS Electronics has been showing strength. Any recent development that is causing this? Is the outlook now much better as stated in their annual report?? Ramesh S Damani : I beleive so. Management is good and I hold some shares. They are doing contract manufacturing and e-transactions. This is the growth area. Ahmedabadguy : Mr. Damani Does Max's foray in ITES any substantial?Any more progress they made in that regard ? Ramesh S Damani : They are doing medical transcription. They will grow at 40-50 percent. If they can get BPO work of New York Life, it would be great. aarti : What is the hurdle to the disinvestment issue which has been talked about for a while what is happening ? Ramesh S Damani : They are moving too slowly on it. timeinv : Why is Maxindia stangnant, were the results not good. Ramesh S Damani : Losses in insurance business. Jay : how do u see i-flex rated against digital global (in terms of valuation and market share) Ramesh S Damani : I think i-flex will do better. I don't own either share. dev : Hi Good evening, You favourite-NIIT has been falling from 350,and with today's news(NIIT shuts down 22 centers in Delhi)Will it ever regain the lost glory? Is SSI a better BUY? Ramesh S Damani : Between the two, I still prefer NIIT. Ahmedabadguy : Well sir in scripts like Macmillan wher investors here(like me) are holding it from 240-350 range..At current level loss is around 20-40%..If one has seen the loss of this kind what kind of return one should expect before even thinking of selling the stock?? Ramesh S Damani : Fundamentals remain attractive in Mcmillan. As the IT-enabled services business grows, market will rediscover the stock. However, it may be 12 months away. jj : Sir any news in himatsinga today volume are very good Ramesh S Damani : No news. I saw that deal. It is good value. BASANTMAHESHWARI : WHat is the fear on Apollo Hospitals except the LOTBM. Is it now a good buy especially in view of their alliance with Lincoln Hospitals. US and a lot of med trans business Ramesh S Damani : It represents good value. I own it. ayanshah : well sir if Max is loosing money in Insurance then that will continue for years to come( 5-10 years )as it has very long gestation period...so is it 5 year Pick? Ramesh S Damani : Yes. However, the IT-enabled telecom assets could be spun off earlier. BASANTMAHESHWARI : WHy are Indians so worried about FII if only the Govt. could allow pension funds to invest just 5% of their funds into equities we could get an amount many a times greater then the one we expect from the FII Ramesh S Damani : and lead to another UTI type problem ? Government should not manage money. tkhyani : damani,many a times fourth generation, which is one of the leaders in med transcription,was asked about in this chat of which u had promised to analyse???/ Ramesh S Damani : I am sorry I have not done it yet. baracuda : the market always teaches us something -not to blindly follow these one man armys first it was harshad then ketan and now lotbum dont yu feel that when such heros comeup it is time to exit Ramesh S Damani : You make money in the market from your conviction. Develop that and you will be better off. ritu : Dear Ramesh! I have been folowing yr chat since last nine months quite religiously! the money i invested had on yr opinions almost doubled during the period but now that stand almost 20 percent less! I believe u always tell us where to enter but never tell us abt getting out! why is that? is it fair with us loyalists of yrs? Ramesh S Damani : Markets are a tough place. I can guide you, but you have to make your own decisions. I come on only one day a week and answer only questions that are asked. I can't advice day to day as you would appreciate. Delna : Is there a possibility of BEL going into a BPO venture as they have skills in that area?? Ramesh S Damani : Possible, but not heard about it. ayanshah : Sir few weeks ago you said you are looking at Bharti stock but haven't baught yet.... Ramesh S Damani : Still looking. dharmesh : THIS IS TO APPRECIATE A PERSON LIKE MR RAMESH DAMANI who in my opnion looks can play a leading role in the image building of the indian stock markets Ramesh S Damani : Thanks for the kind words. ayanshah : Sir Gati stock has been a worst performer in my portfolio ..Do you see the stock can be baught at current level or you advise a wait???? Ramesh S Damani : It is a cheap stock at Rs 32 crores market cap. However, no growth is happening in the economy. guptaone : rameshji! any idea on when UB BEER/BREWCO will be traded? Ramesh S Damani : Don't have a date. Administrator : Please desist from spamming in chat room else you will be frozen out of the chat. timeinv : You mentioned Onward Tech as a dark horse, any reason Ramesh S Damani : They should benifit from boom in cad/cam. aarti : Do you think tata honeywell and engineers india are good bets at this rate? Ramesh S Damani : I have sold Engineers. I think Tata Honeywell is good. ari : Ramesh Jiiiiiii......plz ur call on bharat forge and Mahindra & Mahindra !!!!!! Ramesh S Damani : They are both pretty cheap, though I don't own any. baracuda : mcdowell has relaunced mcdow no1 new bottle and a carry bag also they are going to sponser elton john concert in blore im def going do yu see such actions positive for the stock and the bottomline Ramesh S Damani : Not in the short run, but otherwise it is good. subodhgk : Mr. damani, I feel that Tata Poweris grossly undervalued. Is it just because it is investing in Tata group's telecom projects or the group is increasing its stake in it and prices are artificially depressed ? Don't you feel it should replace stocks like Colgate/Castrol in Sensex who are dead ducks ? What can be the fair price of Tata Power ? Ramesh S Damani : It is too large a question to answer in chat. However, the telecom investment is dragging the stock down. Joy1 : 4rd times.......Sir is it not showing in your machine,I have 160 shares of South East Asia Marine Engineering & Construction Limited at 98,Now it crashed ....should I wait now for the open offer or exit.What about Aventis farma's open offer ????do you think we can enter in it at this level?Please answer.Regards. Ramesh S Damani : I am not following that. rockerbie : Do u think moving away from PE ratio-based analysis give a better insight into the stock? Ramesh S Damani : PE is only one of the criterion that I use. vikas : macmillan or tata honeywell - which one will you buy Ramesh S Damani : I own both. However, in the shortrun Tata Honeywell may do better. VishalM : 2nd time, sire, please answer what is the upside of BEL from 210 ? Ramesh S Damani : The company is doing well and I think they will do well this year. subodhgk : Well, I will ask small question. Should Tata Power replace Colgate in Sensex ? Ramesh S Damani : That is decided by the index committee at BSE. I wouldn't know. AnandBhatt : Dear Sir,Goodafternoon.How are you?Where isthe market headed?Are you waitingpatiently or are you buying anything? Ramesh S Damani : trying to find good stocks ratherthan worry about the market. uma : Rameshji, how is Karnataka Bank at this level with their announcement of bonus 1:1 and rights plus dividend of 60%? Please highlight this. Ramesh S Damani : The numbers look good. Maybe too good. I recently sold my holding. ram : Don't u think that common investors are the loser's because non transperant dsclosure by companies and bad advice by brokers Ramesh S Damani : Investors should make their own decisions. No free luch in the stock markets. RSDfan : 10th time)i want to purchase Tata telecom, PNB and Ind-swift?, give me ur opinion Ramesh S Damani : I don't own any of them. I like Tata Telecom the best of the three. rajadharma : Rameshji ! Pl. answewr simple Q? Y'Your latest PICK ? Ramesh S Damani : I have said it six times. The only stock I recently bought is Tata Honeywell as an investment. kamal : dear sir, what do you feel for the disinvestment,should not a smart person like you help the govt.to sort of the issue...? Ramesh S Damani : When has the government listened tosmart people? HarshaB.S. : Your talk on CNBC about valuations of Geometric, can you repeat the same for my understanding Ramesh S Damani : At Rs 200 crores, it is cheap. rockerbie : If I pay you for an advice, and your advice results in a big loss for me, can I sue you? Ramesh S Damani : If it was given in bad faith. kamal : sir would the railway be privatised..? Ramesh S Damani : Not in the next 10 years. sagar : deraest rameshi, thanks for your valuable advice which always saves small investors like us, kindly view on nalco and geometric? Ramesh S Damani : Geometric- good. Nalco Aluminium- good for divestment. Karthik : can u analysts develop a device to measure SENTIMENT Ramesh S Damani : Sure. They do it in the States. Just poll your friends. rpmaurya : Rameshji, please let guide about stock of VIKAS-WSP. I have 1000 shares at the average of Rs 19/-. Please give some information about its re-listing. Ramesh S Damani : No good news to report on it. Sorry. baracuda : enam securites has a positive outlook for concor do yu share their views Ramesh S Damani : Yes. AnandBhatt : Dear Sir,DEAR SIR,PLEASE ANSWER THIS.YOU HAD SAID THAT YOU WERE UNHAPPY THAT ESERVE DID NOT SHOW SEQUENTIAL GROWTH THIS QUARTER.SO IT WAS A HOLD BUT YOU WOULD DECIDE AFTER THE AGM AGAIN.IS THE AGM OVER.IS IT A FRESH BUY AT THESE LEVELS AS I HAVE NEVER BOUGHT IT BEFORE? Ramesh S Damani : AGM is not over it in September. Let's see if next quarter brings sequential growth. That is important for a growth stock at Rs 550. It is not cheap. We are paying for growth. However, I still own it. delhiinvestor : if it is possible to answer this question at this forum, i would love to know what are the key parameters used by you to value stocks and make investment decisions? Ramesh S Damani : I look for an exciting sector with good growth and then I try and buy the best scripts. (Good management, good market cap etc,etc) SURESH : DAMANI, ANSWER ME. U'VE ACCUMULATED HONEYWELL AT LOWER LEVELS AND WANT OTHERS TO BUY IT FROM U AT HIGH LEVELS SO U'LL MAKE GOOD MONEY AT THE COST OF OTHERS ? ANSWER ME IF U CAN. Ramesh S Damani : No one has to follow my advice if only market were so simple. ramprasad : Dear Rameshjiee, i think u seem to be sceptical abt IPO of Union Bank.Is it so ? Ramesh S Damani : Financial institutions owned by government of India are not my favourite sector. ramesh : SIR, THIS IS THE NTH TIME I'M ASKING THIS QUESTION. PLEASE... YOUR TAKE ON SYNDICATE BANK. Ramesh S Damani : Sorry, I don't follow it. delhiinvestor : are there any Business Process Outsourcing stocks that are listed? any views on them? Ramesh S Damani : There are around 6-12. I have discussed them in the transcripts. ayanshah : Sir I feel that Company like Gati has great business prospects for this decade as Logistic management would be integral part of any dynamic company and also individual..Please update here if you get any new developement news in the company.... Ramesh S Damani : Nothing new. Stock investors require to be patient. BEL was at Rs 50 for 4 years before touching Rs 200. rajeevmane : Rameshji your take on TVS Electronics and its exit price.It's trading at a PE OF around 80 which seems to be too expensive for a stock Ramesh S Damani : It is, but young stocks are ofte expensive. Market cap is reasonable. HarshaB.S. : SIr,I would like to invest my part in Mutual funds, please suggest Which Mutual fund you will suggest me, there will be combination of stocks like Geometric, Mphasis, Iflex Solutions, E-serve, Max India and Macmillan Ramesh S Damani : I don't follow mutual funds. HarshaB.S. : Does your broking house bring a news letter? Ramesh S Damani : No. jain : what you suggest as a safe investment in LIC Housing Finance Ramesh S Damani : It is a conservative investment. ayanshah : Well Sir do you see market is in the hands of Bears now and will be a lot more blood before it rises again???? Ramesh S Damani : No market is in a range. ram : Can't u not advice or answer us on shares other tahn u r following.....why Ramesh S Damani : If i don't know much, I can't tell you about it. jain : thank you for your quick response on LIC Housing- can you little explain?? Ramesh S Damani : Nothing to add. Thanks all for joining. See you next week. Bye |