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'Market is headed higher'Mumbai, November 4, 2003: 'Market has reached a zone where gains may be quick,' says Ramesh Shrichand Damani.padma : sir i want to buy gujarat ambuja, L&T and cipla can ibuy at this price please advice Ramesh S Damani : Hello everyone thanks for joining. Let's start. Ambuja looks the best to me of the three. I own it. Cipla after that. snsdhar : Dear Sir, I agree with u that we should look at sectors and specific companies instead of merely tagging the index. Pl give ur recommendations. Ramesh S Damani : Both are correct strategies depending on circumstances. If you study markets clearly you want to identify sectors. If you are too busy index is the way to go. Raghunath : what is the advice to a person who want to make lot of wealth in stock market? Ramesh S Damani : Be disciplined, read a lot and have conviction. newbieatstock : Sir your view on the week that was, and maybe what lies ahead in the next few ? Ramesh S Damani : Market has reached a zone where gains may be quick. This move is pretty powerful and will take the market higher. BASANTMAHESHWARI : HTMT came out with great results and news flow I thought Profits increased 16% q-on-q.Co. also acquited a call center company employing 900+ people in Manila at less then one time sales. CY Eps should be around 21 In the backdrop of Fascel and Cas would you not aggressively advocate a buy. I have a lot of it and want to increase exposure. Please comment Ramesh S Damani : In the current market environment it looks attractive. BPO business has been scaled up and CAS should be a bonanza. I own it. baracuda : macmillan has failed to participate in the current bull market 3crs net in the qrt is nothing great foer a co of macmillans size over the last many qrt this co has failed to deliver the goodsso why do yu still hold itare yu not willing to accept the fact that yu made a mistake Ramesh S Damani : Sometimes you have to be patient. In the last bull market Tisco, Telco, Grasim were ignored. They were not bad investment as time has proved. Generally tech has remained flat. If you like momentum investment then clearly McMillan is not for you. Having said that I was disappointed with the company's Q3 results. chan : do i average goodyeasr india now as i bought them at 54/ and now it is at 41/? Ramesh S Damani : I would hold on pending confirmation of a turnaround. newbieeatstock : Sir my portfolio other than tisco consisits of stocks that are not in the sensex, but with the optimisim that exsists does it not make sense to own some good stocks in the sensex. your views and if you agree which of the sensex stocks would you advocate buying at this moment. Ramesh S Damani : Since FII's are leading this market they need to invest in large capstocks ie. index stocks. SBI is a good addition. I own it. ChennaiInvestor : Which investment book did u read recently ? Ramesh S Damani : Cable cowboy about cable industry BASANTMAHESHWARI : I have your opinion on Pantaloon.Just wanted to inform you that Marc Faber took a stake at around 115 along with Goldman Sachs(900000 shares).Faber's investment is something which I was really surprised to learn.Co. sells at small mCap (500 crs) looking at the scope.Ks Tech estimates organized retail sales to be 9000 crs in 2005 if we give 20% mcap to the leader then the calculations are for all to see. Ramesh S Damani : That is true he did take a position. The idea seems to be working out. kavita : ramesh ji good evening. I have send shares to the company - Mukerian Papers Ltd. for the deletion of one of the share holders last october. But till then I have not received any response from them. What is the next step that i should follow? Ramesh S Damani : Write to Sebi's investors complaint department. jags : what's ur take on SAIL post results I am holding 1000@19 rs ...should I book profit or wait for finanicial year Ramesh S Damani : I can't advise on that kind of question. ChennaiInvestor : Between HDFC Bank and ICICI Bank which do u prefer and why ? Ramesh S Damani : HDFC for quality of management issues. It is a great franchise. I own it. Bevda : Why is that the recos you give on CNBC's taking stock goes up on Monday and then falls. For eg : Take the case of GoodYear Ramesh S Damani : Market is a large universe. Some one buys some one sells. newbieeatstock : lets assume i think i know of a sector that is good, how do i identify a good company in that sector and if i do identify one, how do i know it is cheap and i should be buying it. ? how do i work out the figures, here onwards Ramesh S Damani : This is not the place to answer these question. Beauty is in the eyes of the beholder in terms of good or bet. Generally buy the best and worst company in the sector if you see a bull run. Tisco, Sail, Infosys and PSI Data are examples of the above. AnandBhatt : Goodafternoon Sir,Any new picks besides Godrej Ind in the current market? Ramesh S Damani : Look at the large caps that is where the action is. newbieeatstock : i might have conviction, i might not be greedy and i might be willing to wait for a long time, but what good does it do if i dont know or havent learnt how to identify the good stocks Ramesh S Damani : Over time you will learn it. padma : sir iam holding 200 tisco@249 please advice to hold or exit please advice Ramesh S Damani : I would hold. shirish : Zodiac clothing will have an eps of Rs 20 this year and Rs. 30 next yr. It looks best positioned to tackle 2005. Whats your view? Ramesh S Damani : I think so. adil : I know that mcdowell has a lot of unlocked potential but besides that whats looking good Ramesh S Damani : Large caps. In small caps look at Godrej Industries D-Link, Great Eastern. AnandBhatt : You mean Tisco,telco ,SBI at these prices.Are they safe? Ramesh S Damani : Market is headed higher, I believe. StockLover : Am I right in assuming that the most recent 12 month earnings for EServe is Rs 34/-. That translates to a P/E of less than 20. When Satyam can trade at 25 P/E s, why not EServe, et al ? Ramesh S Damani : Satyam is a more liquid stock hence gets a better PE. anaam : Sir,I have bought 2000 GAIL @ Rs 102/- Is it advisable to convert part of my holding into Sundaram Finance or should I invest fresh fund into Sundaram Finance? Ramesh S Damani : You could do that. kartikeya : manytimes it happened that stocks strongly recommended by the experts on various channels go up a bit and as new investors buy in to them the experts offload them and book a large profits Ramesh S Damani : That would be unethical if they sell on the day they are recommending it. newbieeatstock : sir i dont know if you remember, you gave a lecture in ICHR at H.R College about investing, i was the vice president of the club at that moment and one of the organisers, and once again i thank you for trying to spread investing awarness amongst the younger generation. Ramesh S Damani : I did. Glad to help. I always enjoying talking about stocks, nice to go to your alma matter. adil : You asked, hey mr D whats your current fav , please dont say mcdowell Ramesh S Damani : McDowell is a core part of my portfolio and despite huge pain I continue to believe in it. You are not wrong in an idea just because market price does not rise. I am convinced of my logic. Currently large caps seem the place to be. shirish : Zodiac mkt cap is just Rs. 48 cr compared to its sales of Rs. 150 cr this yr and Rs. 200 cr in 2005. What are the factors against Zodiac? Ramesh S Damani : Ill-liquid share and perhaps management needs to deliver consistently. somewhatnew : Gillette - impressive results. Will the market forgive the mgmt for the past anytime soon ? Great business...will it get the appropriate discounting ever ? Ramesh S Damani : I think so. They are on a uptrend. Bevda : Sir, please give your views about Rayban Open Offer (Rs. 104 + Interest 70). Should I give the shares? Ramesh S Damani : Yes Anand1 : This is 10th time i am asking. please!!!!!!!Your take on ESSAR STEEL & BANK OF PUNJAB. are u still bullish on bank of punjab?what is short term target for each of them? Ramesh S Damani : I don't follow Essar. BPO looks good to me. Shobha : What do you feel as a safe long term investment to invest in morgan stanley growth fund since they generally give a dividend of 8-10% ? Ramesh S Damani : Morgan Stanley makes sense to me. raghini : Damaniji was pretty bullish about colgate on CNBC Ramesh S Damani : It's a great contrarian bet. AnandBhatt : Sir,should one sell of some of BEL.I have 2000 at 150.Or should one wait?Yesterday Rakesh Jhunjhunwala on NDTV at tight said that investors should hold on what they have bought in the last 6 months.They should not sell even if they have made a good profit.Your advise please. Ramesh S Damani : I would hold on to BEL. The company is doing well. Let' see what happens. kvg : sir, how do u feel about the Godrej Industries results Ramesh S Damani : Great AnandBinani : Sir,this is first time i have seen u r bullish on Satyam IS this is entirely your view or looking at the market u r seeing a P/e re rating?What aout Infosys.....? Ramesh S Damani : Satyam is a trading call. AnandBhatt : Sir,Sundram Finance is not a large cap so I dont think it will run away.Do you think I can wait for a correction and get it at 150 levels.Is my logic correct? Ramesh S Damani : That is an impossible question to answer. anaam : Sir, I ahve bought Paper Products @ rs 123/. Quarterly results are good & I wish to add more of them in my portfolio.Have you any outlook on this script?????????? Ramesh S Damani : It looks good to me. baracuda : do yu see further upside in micoit is at 10600 Ramesh S Damani : Yes. kvg : sir, can u please give some auto ancilliary shares for trading or investment Ramesh S Damani : The only one I recently bought was Banco Products. It has had a sharp run so be careful. Nothing new to recommend. adil : Mr D just one pick for a period of 6 months , we understand that you are not merelin the magician but we trust your calls so we are asking you once again to stick your neck and make ONE call for six months Ramesh S Damani : Over one year I would say try Colgate and Corporation Bank, which I own, over 6 months Tisco and SBI seem better bets. AnandBhatt : Sir,can one get into Satyam as a trading call at current rates.Anyother trading call you would recommend at current rates?...... Ramesh S Damani : Trading is only for the seasoned not for general investors. If market is headed higher as I believe buy the market heavyweights in trading. balladsandblues : Damaniji.. Is s.i bank a good investment and what can be its near term projection considering the scrip is quoting@64? Ramesh S Damani : The bank is cheap that is why I am holding it. balladsandblues : You used to positive vibes about Goldiam? Has the jeweller lost the sheene? Ramesh S Damani : Results were excellent. The stock is really cheap. I own it. kvg : sir, even after giving excellent results godrej ind has not moved .w Ramesh S Damani : Don't worry. Maybe it is a buying opportunity. adil : mr D I dont know if this has any relevance but you are one of the sharpest looking guys among the special guests on CNBC Ramesh S Damani : Thanks. admirer : Sir, should I hold on to Cipla and Dr Reddys at current prices? Ramesh S Damani : I think both will do well in the current boom for pharma. Tanmay : Damaniji, What is your current opinion on MORGAN STANLEY, how do you judge the management to rely on ? Ramesh S Damani : Looks good to me. Thanks all for joining. See you next week. Bye. |