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THE CHAT ROOMS
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'The mutual fund industry has to grow up''US 64 has been a disaster. If you want to be in equities, try an index fund,' says Ramesh Shrichand Damani.
deepa : pharma and FMCG stocks look good today..any particular reason? PARESH : GOOD AFTERNOON MR DAMANI I WANTED TO ASK ABOUT TIPS,CREST COMM, BALAJI TELE & MUKTA ARTS ,SHOULD I BUY AT THIS LEVEL OR WAIT FOR SOME TIME PLEASE GUIDE ME Ramesh Shrichand Damani : I would wait. Market is in deep funk. Also the media stocks revenue recognition process is incorrect. Wait till you see a few quarters of results. Vaishali : Will Sensex touch 3000 Ramji Ramesh Shrichand Damani : Market is likely to test its lows unless we see some major sops from New Delhi.Thursday is going to be the big debate on US 64 in parliament. sekawati : Mr Damani, I would like to ask you,Should I buy Infosys at this price ? Ramesh Shrichand Damani : It is the most respected stock. However if growth slows this stock is going to get hit hard. It is still at 10 times sales. priyank : Mr Damani , would you give me some idea of stock exchange working Ramesh Shrichand Damani : That would take a few books to answer. Do you have a specific query? kelly : Yesterday, brokers had gone on a strike. How badly do you think that the rolling settlement has affected business? Ramesh Shrichand Damani : Very badly. Market has a brittle quality. This is the most doom and gloom I have seen. bunty : infosys, hll and reliance have shown amazing stability today...dont u think ramesh bhai? Ramesh Shrichand Damani : They are. But will UTI be forced to sell these to meet redemption.They could be vulnerable to a FII sell off. DamaniRamesh : I need to make some money for higher education. i am relatively attracted to shares and want to make some money. Which stocks shall i take so that my aspects are fulfilled? Ramesh Shrichand Damani : I appreciate your thoughts, but markets are rarely so philantrophic. It is not proper to expect the markets for your education, car, travel etc. Investments must be made because they make sense. lukhi : after US 64, what is your opinion abt mutual funds? do you think investing in mutual funds is a good idea for the common man? Ramesh Shrichand Damani : US 64 has been a disater. However many people saw it coming. Obviously the mutual fund industry is still nascent, it needs to grow up. lukhi : how is the options market doing? there has been not much reports frm there. Ramesh Shrichand Damani : It is off to a slow start. It will pick up though. It lets you be creative. srinivasbh : sir, i have satyam shares is it good to hold or sell at current price Ramesh Shrichand Damani : i would sell at around current levels. srinivasbh : sir, is it better to buy vsnl at current levels ? Ramesh Shrichand Damani : With Sing Tel dropping out, it changes the picture. However, the yield is very tempting. It hasn't been a great call. nikhil : Rameshji, I've invested in Alliance new millenium, Prud. ICICI and ILFS mutual funds ...all catering to IT...what are your views on these... Ramesh Shrichand Damani : They are all getting slaughtered. I would not expect a quick revival. vijayhg : Good Afternoon Sir, I would like to know as to when are the Tech stocks going to roar in the markets or is it going to remain as sluggish as it is now. Ramesh Shrichand Damani : without growth these stocks look like old economy stocks. No excitment. Market pays huge premiums for growth. Huge punishments for slowdown. vijayhg : what is the future of Satyam and Silverline Ramesh Shrichand Damani : They both look vulnerable. Silverline in particular. Varaha : What is the future of Options mkt in India as small investors do not participate in it Rameshji? Ramesh Shrichand Damani : If they dont, it will not take off. It is very important to have the small guy (retail) into it. Maybe the regulations must be relaxed. YATHIRAJ : Sir, I have invested about 1.10 Lakhs in Infotech Shares. At present my portfolio showing negative balance of Rs. 55,000. Any chances of recovery. Yathiraj. Ramesh Shrichand Damani : Unless major sops come from New Delhi, I doubt it. The climate for equities looks bad. Sanjana : Good Evening Mr.Damani, My family has invested substantial savings in the mutual funds last year...today they are down by 70% when you think this would revise..also what stock investments would you suggest for retired people Ramesh Shrichand Damani : I am sorry to hear of your family losses. It hurts the industry deeply and I wish I could give you easy answers. If retired people are investing I would put a portion in Index linked funds or 1-2 blue chip shares. However the most would be in fixed deposits.Younger people should try equities. joseph : Good Evening Sir, Pls tell me is VSNL a good buy at 291? Ramesh Shrichand Damani : I thought it was good at 320. However you can never trust the disinvestment process. There is no transparency in it. The Rs 50 yield is still there. kundushankho : Is NIIT a good buy at around 200 for a long term perspective? Ramesh Shrichand Damani : From long term yes. However you could wait for the stock to bottom out. Education business will survive. senthilkumar : What is the real reason that there is so much fear in people to go to the capital market? Ramesh Shrichand Damani : I think they have lost a lot of money. That doesnt help anyone. We need strong organisation to lobby for shareholder interest. I am terrified that by lack of concern we have begun exporting our capital market. java : SIR COULD U PL TELL ME HOW IS THE SCRIPT OF DR.REDDY Ramesh Shrichand Damani : I do not follow pharma. However price action is good. It could be a leader in a new bull market. kyabadla : Has SSI bottomed out yet? where do you think the market will bottom out and then rebound? Ramesh Shrichand Damani : I think after NIIT all of them are going to have bad results. No hurry to buy them even at these rates. Jayesh : hi mr.damani,what are ur views about the current mkt. condition.when in ur view shud the mkt. rise from its current position & where do u see the sensex in the next 6 months. Ramesh Shrichand Damani : Unless some major sops come from New Delhi, market is going to remain dull to poor. It is extremely discouraging and no light at the end of the tunnel. ashok : which stocks do you suggest for good dividend yield Ramesh Shrichand Damani : A lot of stocks are yielding10% or more. VSNL is at 17% yield. Just ask your broker for some ideas. Pawan : what r ur views about rolta Ramesh Shrichand Damani : Best avoided shardul : HOW WOULD YOU RATE MASTEK OUT OF 10 ? Ramesh Shrichand Damani : 3/10 they have a long history of disappointing. ashok : what about citurgia bio and neyvalley lignite Ramesh Shrichand Damani : Neyvelli capital is large and a PSU. Good share wrong time. I do not follow citurgia. sks_bs : Dear Sir i would like more about essar oil share Ramesh Shrichand Damani : I would avoid it. harish : what is the future for US 64 holders. Is it worth holding and for how long? Ramesh Shrichand Damani : I would redeem it at NAV when I have the chance. UTI can not do in 6 months what it did not do in 30 years. It is a fundamentally flawed scheme. rdb : shouldn't we allow hostile takeovers? isnt it time we stopped protecting indian managements? Ramesh Shrichand Damani : I agree. It would unlock the value stocks. I am all in favour of it.We must encourage it. kailash : Don't u think that small investor never earns from market, hence they should avoid the same and go for FD/Post Office Ramesh Shrichand Damani : That is not correct. But i recommend discipline and a long term view. If you dont have that do not enter the market Kaushik : Please update about Unit 64 i.e Is it a complete loss account !! Ramesh Shrichand Damani : I wish I could be optimistic. However it seems best to exit at NAV prices in Jan. UTI is going to have to shrink. It will not be the big 100 point gorilla. pedulwar : sir do u think in this condition india coukd get 8.3 growth rate? Ramesh Shrichand Damani : It would be a miracle. I think 6.5 would be streching it. kailash : Mr Damani, If somebody would have taken a long term view even for best company infy at 15000 level, shall he wait for a better time Ramesh Shrichand Damani : It may never get back to even 10,000. The model they have seems broken to me. raviseena : Do you think these online brokers would one day give a run for money to other brokers? Ramesh Shrichand Damani : Hard to say. Online broking will grow in size. Pranav : Do u think SEBI will pay heed to recent Brokers strike and demands? Ramesh Shrichand Damani : They are all tied up with JPC and UTI. If FII flows slowdown or Exchange level falls, the brokers will get noticed. It will be uphill till then. MANVARSINGH : Sir, I would like to have your valueable advise on Steel Sector. Should I start to accumulate the shares of ESSAR STEEL, LLOYDS STEEL & OTHERS. Please comment. Ramesh Shrichand Damani : Steel prices are at 30 year lows. I see no hurry to buy TISCO. The others I would avoid all together Neha : , Hi, What is your opinion on buying Reliance ...which other scripts you would speculate good returns/increase within a year or so Ramesh Shrichand Damani : UTI owns too much of it.This will be a overhang on the stock. We have a ready seller at every rise. sj_bohra : Sir, any comments about DSQ Software, the stock has came to almost 1% to Rs 35 from its high of Rs.2870 per share Ramesh Shrichand Damani : I would avoid it even at these rates. The bubble has burst for DSQ. Forget the high prices. Puneet : Hi, whats ur opinion about ITC Limited? Ramesh Shrichand Damani : It has limited downsight becauseof its 100O Crore cashflow. Hold on to it. kailash : I feel that Broker community never lost, but small investor always, why? Ramesh Shrichand Damani : I do not believe that is correct.You will be amazed to see the hurt in the industry. rkg : sir, please give me a hearing too........sir, i am quite excited by the opportunities offered by the new economy stocks in the current market scenario. is it possible for you to tell me your choice in the convergence/media sector. Ramesh Shrichand Damani : I think we dont really have any listed stock. Hinduja TMT is a start, but the quality of management issue remains. I would wait for a better selection. Roy : Mr.Damani, Which Mutual Fund should I invest? Debt,Equity,Balanced or Liquid Bonds now? Ramesh Shrichand Damani : if you wanted to be in equites try an index fund. Market has no leadership. No favourite sectors. Hard to make a larger call. kailash : Why you are always bullish on BGFL Ramesh Shrichand Damani : Do you mean Birla Global? I have not recommended it recently though. have in the past. TechBull : Is Geometric Software still attractive in spite of dissappointments in the past? Ramesh Shrichand Damani : I recently bought some. They operate in a niche area and should grow. Maulik : when will market touch 5000 ?Maulik Ramesh Shrichand Damani : in a new bull market.Whenever that starts. Abbayi : sir...i am holding Rolta, Orient info, Ram info, Satyam, Frontier info. I am into deep losses over 6 lacs. Shall I buy now these shares and average it ? I am looking at long term investments. If I sell my existing shares, it would be terrible loss. please advise Ramesh Shrichand Damani : I would not average. That is compounding a mistake. Book your losses and put it in a fund or a better quality stock. Dumaloo : Damani answers the same questions every week..cant u say something new and interesting Mr Damani? Ramesh Shrichand Damani : Ask me an interesting q?I love them keeda : mr damani, many ppl beleive stock markets are not necessary. y do we need them at all in the first place? Ramesh Shrichand Damani : We do. No question about it. How do you raise money otherwise. Bankers can be very unfriendly to change. Markets allow innovation. But they must be respected. Dumaloo : If Sify and Vision compass were to be disposed off tomorrow, what do u think Satyam's price will touch? Ramesh Shrichand Damani : Satyam would take a big hit in its B/s. I doubt they could get what they paid for it. They are being viewed as mile stones. Also the slow down will affect them badly. boost : What do you feel about the disclosure rules in India ? Ramesh Shrichand Damani : They are flouted and poorly enforced. Thanks all for joining. See you next week. Bye. | |