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'The market is getting ready for a pause'Mumbai, July 8, 2003: 'Indian pharma stocks slowed down today. I would buy into the decline though,' says Ramesh Shrichand Damani.sujitmodi : Sir, what is your view abt oil & gas sector & GAIL inparticular Ramesh S Damani : Thanks for joining, Let's start. I am bullish on Gail. It pays a good dividend and is a good bet. I own it. Ahmedabadguy : Mr. damani do you see markets have started to streached alittle bit after hugh rise and it is prudent to wait for some time beforemaking new commitments..Also you advise to be around what % to remain cash at present state of market... Ramesh S Damani : It seems that the market is getting ready for a pause. Indian pharma stocks slowed down today. I would buy into the decline though. mayurdamani : Sir, do not you think that Macmillan should be at 20 PE and the current rate is just 13 PE. Can I know sir, who actually decides what PE for what company or is it just demand and supply? Shall I hold at the current rates? Ramesh S Damani : PE is decided by the market of course. Market gives high PE to growth stocks with good management. I think MacMillan can grow at 35% hence the PE should improve. catchsudipto : Sir i had brought shree rajasthan syntex, mahavir spg, vardhnam spg. I am able to find information about them in the net, expect Shree Rajasthan syntex. Sir can u please help me in getting the information in the net about Shree Rajasthan syntex so that i can become confident about it like U. Ramesh S Damani : Shri Raj Syntex has a market cap of 7.5 crs at curent price of 10. It should benefit from the WTO law in 2005 and the textile fund. Risk reward favours you. trueinvestor : SUPER SPINNINGSUPER SPINNINGSUPER SPINNING SUPER SPINNING SUPER SPINNING SUPER SPINNING PLS GUIDE Ramesh S Damani : I am bullish about the prospects of Super Spinning. sujitmodi : can u suggest some target price on GAIL & app. holding period Ramesh S Damani : I hope to hold if for 2-3 years. Let's see. No price target however. guptaones : hi damaniji! any dividend declared for our favouraite MCDOWELL for02-03 or it is nil or anything is expected? Ramesh S Damani : I am hoping for Rs 2/dividend ….margins are improving in the liquor business. jesselungmore : SIR, THOMAS COOK. WHATS YOUR VIEW ON IT. ITS NEAR ITS 5-6 YEAR LOW. VERY ATTRACTIVE VALUTATIONS. AND A PLAY ON PICK UP IN TOURISM IN THE COMING YEARS. Ramesh S Damani : I agree it is cheap. I own it. VivekKochar : I would like to do fresh buy in bank which one is your Pick in banks Ramesh S Damani : Try South India Bank or State Bank or even Karur Vyasya, I own all three. Ahmedabadguy : Mr. damani Good afternoon sir..Congratulation on your conviction about macmilan..Sir what you advise for small investors here to do for their share allotment in Maruti..I mean what is your view about the share prise band on listing and subsequently??? Ramesh S Damani : I would be tempted to sell around 170. Let's see what it opens at. mayurdamani : Sir, In CNBC today, one analyst told that HOCL should fetch something in excess of Rs. 500 crore which translates to Rs. 75 to 80 per share and the acceptance ratio will be 1 : 2. So, the current rate should be around Rs. 40-45? What do you think sir? Ramesh S Damani : I think he is being too optimistic on the bid. gopal0311 : sir, what are the prospects of psl holdings shall i buy Ramesh S Damani : The entire sector is looking up thanks to gas pipe projects. Bhagirath : e-Serve annual reports says in outlook column "we expect turnover to grow by 20-30%.PrfitAfter tax willreflect a slightly higher growth trend"Please explain me what this mean Specially in actual terms? Ramesh S Damani : Profits will increase at a faster rate than turnover. If turnover was Rs 100 cr and profit was 10 cr next year turnover could be Rs 130cr (30%), profit could be Rs 15cr (50%). AMITSBHATIA : sir did u had a look on orient Abrevis we had a talk last week ?? Ramesh S Damani : Sorry not yet looked at it. anil : RADICO has both cement and liqour...strong as cement but not liquid as liqour..can i pick this Ramesh S Damani : It is a good bet. Cement is closed down. Only using it to absorb tax losses. I own a small amount. sureswar : Damaniji .. can you please share us your views on "Sonata Software" ? Ramesh S Damani : Not following it currently. laquinta : do yu still hold bel whand at levelwill it start looking expensive Ramesh S Damani : Q1 results should be good. Around Rs 400 it will be one time sales. Look at it then. I own it. rashda : good afternoon sir, I am having 200 wipro and 500 telco. i am in need of money at the end of month. do i sell this shares now or wait for futher 15 days Ramesh S Damani : If you cannot take a chance sell now. It is a difficult question to answer. skk : If one has to buy hotels shares then apart for indian hotel in which hotel one should look into Ramesh S Damani : That is the one I own. You could look at EI hotel. ppp786 : South Indian Bank Ltd currently at 53 can it go upto 60 at the end of this month when its results are been declared at the end of this month Ramesh S Damani : No one can predict that. It is a cheap bank and that is all I can say. cnk : Sir, Maruti share will be listing on BSE & NSE tomorrow. What do you think will be the likely listing price? Is it advisable to purchase the stock immediately? Ramesh S Damani : A million dollar question. I would assume north of Rs 150. skk : Ramesh do u feel there will be heavy correction now or it will just pass by since fii inflows are heavy Ramesh S Damani : I would expect a 75-100 point correction. Siddharth : Why do many firms donot create and manage their own Provident Fund Trust, instead they directly deposit all the sums with the Govt.? Ramesh S Damani : Indian forms are not allowed to. It is, however, followed in the USA under IRA plans. Ahmedabadguy : Sir Radico management sees MNC companies to grab a hugh market share in whisky segments perticularly above 350 rs. bottle market post 2005...Does it make macdowell little venerable??? Ramesh S Damani : I read the analysis. McDowell has a strong position. I believe at some point they will sell out to a strategic partner. Ahmedabadguy : Sir as you suggested to look for good phrma bets as markets decline..which ones will be your buys?? Ramesh S Damani : Maybe IPCA, Lupin, Nicholas….I own all three. kjram : Mr.Damani, do you have a matrix of stocks of various sectors, you work with or is it based on market gossip Ramesh S Damani : My core holdings are few and well known to rediff. The rest I buy to start tracking or on someone else's insight. anil : mr damani..need despersltly ur guidance in gabriel,unichem and jb chem..i hold these Ramesh S Damani : They all look okay at the current time. saxena : Can we consider buying INFOTECH ENTERPRISES at this rate . Do u think tech / bpo can outperform in 6 months time Ramesh S Damani : I think it has a bright future as an industry. smallinvestor : (3rd time)pls share ur views on Gail, opto and dlink and kochi? Ramesh S Damani : I am bullish on GAIL, OPTO and D-link. nokia : mr damani, whats yr view on mcdowell at the current prices? Ramesh S Damani : It's for the long-term, say for about 3-5 years. kjram : all these derivatives, futures and options are very confusing-are people making money on these or are these intellectual pursuits Ramesh S Damani : It is a tough game but the smart ones make money. Atomica : eServe could be 5 billion market cap?? Meaning its market cap could go 33 times from here?? AMAZING!! Ramesh S Damani : Where did you read $5 billion? Babu : Any black horse do you have in your mind that may be looked in declines? Ramesh S Damani : Try United Breweries. I explained it last time. Ahmedabadguy : Sir any follow up news on Gati counter.??A lot of midcap good companies have made new high..Do you see Gati finally joing the race?? Ramesh S Damani : Nothing new. amol : i am just pass out mba and wants to know what are the investment i should do. i dont have any knowledge about stock market. where shud i start Ramesh S Damani : Start reading a lot to understand businesses and cycles. smallinvestor : kochi refinery, eps of 35 and last div 100%, isnt it a good business sense, current price 75, suggest something better? Ramesh S Damani : I think there was a one time gain in it. saxena : What is so special in ESERVE that despite some concerns u are not willing to sell. Do u have long term plan ( 3-4 yrs ) to hold on Ramesh S Damani : I feel the concerns are short term. Over the long run it could become a benchmark stock for the industry. It could. If it happens it would get a good valuation. saxena : Is TATA INFOTECH as good bet as MACMILLAN after result Ramesh S Damani : We need to see another quarter or two of infotech results. Atomica : In your last chat u had said that mkt cap of the leader will approach USD 3 to 5 billion Ramesh S Damani : If it becomes the leader… but that is still in doubt. saxena : Which 5 BPO companies have the chance to become leader Ramesh S Damani : Unfortunately not all are listed. It could be Progeon or e-Serve. For takinga bet my suggestion is e-Serve. KIRTICHANDRAPRAKASH : Any views on Raymond. Ramesh please respond Ramesh S Damani : They should do well over the next 2-3 years. smallinvestor : did u happen to see Eonour tech, eps 4.25, price 4.5?, i'm following it since long time, any views? Ramesh S Damani : No i missed it. BK : I WNAT TO INVETST IN THREE COMANY FOR 3LACK WHICH CAN I SELECT ON YOUR PREC ADVICE Ramesh S Damani : Try Sundaram Finance which I bought, McMiallan and McDowell. Remember investment is a game of patience sometimes. saritha : Mr.Damani - what you say about smithline consumer health care shares can I hold or sell Ramesh S Damani : I am not following it. KIRTICHANDRAPRAKASH : Between Indian Rayon and Raymond which one do you think will do better? why? Ramesh S Damani : I think Raymond. BK : THANKS VERY MUCH WHAT CAN BE TIME SPAN? WHAT IS NEW ABOUT SUNDRAM FIN I HEARED IT 1 TIME FROM YOUR SIDE Ramesh S Damani : Consumer business is booming, it is a cheap stock. smallinvestor : (6th time)sir have a look at vardhman polytex, price 51, eps 18 and cum dividend 4.2Rs? textile sector deserves ur attention Ramesh S Damani : I bought Vardhman Spg. I will take a look at this too. wallstreet : sir good afternoon. what do u think about SAIL. should buy at this levels Ramesh S Damani : Too expensive for my tastes. tigershark : what is your rationale in buying sundaram finance do yu feel it will be a bank like kotak Ramesh S Damani : No, not a bank they run a tight-ship. saxena : we are willing to wait for 3 yrs for MCDOWELL. If everything goes well where do u think this scrip should quote at Ramesh S Damani : In three years if turnover goes to Rs 2000 crs plus and margins improve it could go for 3 times sales. Siddharth : But Sir Private companies in India are supposed to create a PF Trust and get it recxognised by the Commissioner Income Tax, thus called Recognised Provident Fund !!! The reaon what I got from my personal survey to these companies in Gurgaon was that they wanted Security of the Principal Amt. and guaranteed return. Besides the manager don't want to take decisions at the risk of their Jobs.Are there no solid reaons or benefits why these companies should manage a PF Trust. Ramesh S Damani : Thanks for the information. I am not aware of all this so no comments. kjram : I sometimes take risk buyibg stocks quoting under Rs.10 and sell them when they double-i buy a good quantity to make some money-would you endorse such gambles Ramesh S Damani : Sure. If market is being unfair to a stock it works beautifully. kamini : do i registre with a broker or do online tradeing Ramesh S Damani : On-line seems better. gopal0311 : sir,can u please tell me a share which is below 10/- Ramesh S Damani : Shrree Raj Synthetic and Shri Raj Texchem float is low. So be careful. rekha pillai : mr. damani, can you recommend a few scrips to buy to a small investor like me who is a housewire and saving of 50000 Ramesh S Damani : Investment is the best bet to make long-term savings. Small amount become big through compounding. I keep recommending stocks here. See which ones you like. gopal0311 : sir, how do we know that the floating stock of a scrip is low Ramesh S Damani : Ccheck shareholding at bseindia.com. SONU : INFOTECH ENTER : We are not clear with your reply , please clear it Ramesh S Damani : At these rates you could by a small amount. They have not delivered consistently hence I am unclear. kjram : Mr.Damani, why don't you suggest one good growth scrip in each sector ( not blue chips) and be prepared to put your head on the block Ramesh S Damani : Which sectors interest you? amol : for a beginer which is the right entry strategy mutual fund or stock market Ramesh S Damani : Generally mutual fund. SONU : AGAIN : MACMILLAN , TATA INFO , HONEY which 2 can be bought Ramesh S Damani : At this price McMillan. Thanks for joining. See you all next week. Bye. |