'I see a small rally'
Ramesh S Damani expects the market to bounce back by 250-300 points in the short term. The chat was curtailed due to technical problems.
Mr Ramesh Damani (Wed Aug 2 19100 5:53 IST)
Hello everyone thanks for joining in. Let's start.
Mr Ramesh Damani (Wed Aug 2 19100 5:58 IST)
The site has been having technical problems. Thanks for joining in again.
Umesh (Wed Aug 2 19100 5:59 IST)
Hello, Good evening Ramesh, How are you?
Mr Ramesh Damani (Wed Aug 2 19100 5:59 IST)
Umesh - Hi. I am fine.
vinoo (Wed Aug 2 19100 5:58 IST)
where do you see the market headed sir?
Mr Ramesh Damani (Wed Aug 2 19100 6:0 IST)
Vinoo - a short term technical rally is in the cards. Maybe 250-300 points.
siva (Wed Aug 2 19100 5:59 IST)
what happened in cement stocks today sir? why the sudden spurt? any news that came out?
Mr Ramesh Damani (Wed Aug 2 19100 6:0 IST)
siva - they had a good rally. I see good M&A possibilities in cement.
vijay (Wed Aug 2 19100 6:0 IST)
what impact will the possible 50 basis point hike in fed rate have on the indian markets ?
Mr Ramesh Damani (Wed Aug 2 19100 6:2 IST)
vijay - negative. It would be negative worldwide. 50 basis point would be bad news. I vote that it will not happen. Fed chairman is aware elections are around the corner.
siva (Wed Aug 2 19100 6:1 IST)
who are the bright candiates in the M&A picture?
Mr Ramesh Damani (Wed Aug 2 19100 6:2 IST)
siva - ACC is an obvious candidate. Maybe Kesoram. Someday L & T.
naresh (Wed Aug 2 19100 6:0 IST)
Hello Mr.Ramesh, I would like to know whether the markets would move up again in near future.
Mr Ramesh Damani (Wed Aug 2 19100 6:3 IST)
Naresh - I see a small rally beginning tomorrow perhaps. Market seems well liquidated.
Manish (Wed Aug 2 19100 6:0 IST)
Hello Ramesh.. why is Satyam and Infosys on the downside?
Mr Ramesh Damani (Wed Aug 2 19100 6:4 IST)
Manish - Satyam because of NASDAQ blues and SIFY. Infy because they just cannot get an accquisition done.
Manish (Wed Aug 2 19100 6:3 IST)
Why are the infotech stocks crumbling now?
Mr Ramesh Damani (Wed Aug 2 19100 6:5 IST)
Manish - They are coming back to reality. A lot of companies like KLG, VANS, ODYSSEY had gone up on hype.
Umesh (Wed Aug 2 19100 6:5 IST)
Is Mahindra & mahindra good buy at this level?
Mr Ramesh Damani (Wed Aug 2 19100 6:6 IST)
Umesh - if you believe they will spin of Mahindra BT.
Umesh (Wed Aug 2 19100 6:7 IST)
Will they spin off MBT?
Mr Ramesh Damani (Wed Aug 2 19100 6:8 IST)
Umesh - They should. It would give them a great value.
xedi (Wed Aug 2 19100 6:10 IST)
in which stocks do you see a rally beginning tomorrow?
Mr Ramesh Damani (Wed Aug 2 19100 6:13 IST)
xedi - INFY and Lever would have to participate.
Umesh (Wed Aug 2 19100 6:13 IST)
Any one good pick in this market?
Mr Ramesh Damani (Wed Aug 2 19100 6:14 IST)
Umesh - Take a look at Birla 3M, Abbott Labs, Monsanto
Umesh (Wed Aug 2 19100 6:9 IST)
Can you enlighten a bit on Frontier Information Technology and its prospects Ramesh.
Mr Ramesh Damani (Wed Aug 2 19100 6:16 IST)
Umesh - very little on Frontier B group stocks are going to have a hard time.
vinoo (Wed Aug 2 19100 6:16 IST)
how are the futures market shaping up? are volumes in that market picking up?
Mr Ramesh Damani (Wed Aug 2 19100 6:17 IST)
vinoo - volumes are still very poor. The exchanges need to market them aggressively.
Umesh (Wed Aug 2 19100 6:17 IST)
And what about Indian Hotel? It is showing good strength
Mr Ramesh Damani (Wed Aug 2 19100 6:18 IST)
Umesh - It's a good value buy. Its market cap is around Rs 800 crs. That seems cheap. Tourism is a growth industry.
Umesh (Wed Aug 2 19100 6:22 IST)
Do you think market will test the level of 3900 before bouncing back again?
Mr Ramesh Damani (Wed Aug 2 19100 6:22 IST)
Umesh - if govt delays 2nd generation reform maybe.
Umesh (Wed Aug 2 19100 6:23 IST)
I feel it will happen only in Sept. at the time of PM's visit to US
Mr Ramesh Damani (Wed Aug 2 19100 6:24 IST)
Umesh - you are more optimistic than me. The government is asleep at the wheel. I feel bad about it.
Mr Ramesh Damani (Wed Aug 2 19100 6:26 IST)
Looks like a dull day. Thanks for joining in. Have a prosperous week ahead.
Money
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