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'Sensex will hold at 2500 points''If it breaks that barrier, it may plunge to 1980 points. This could be a long slump if the government does not wake up', says Ramesh Shrichand Damani.
deval : Mr Damani, How about Onward Techno with bit deteriorated balance sheet, but with bonus 2:3 ? Kalyanaraman : one of the ways suggested to reduce the fiscal deficit is to sell PSUs...do you think any foreigner/strategic investor will come forward to buy any of our PSUs...do you think the balance sheet of our PSUs are as per international norms ? Ramesh Damani : They will if the government will sell in a time bound manner. However I doubt it. Govt does not realise its importance. deval : Mr Damani, Have you ever come across Jim Puplava's readings on present stock market scenario? Ramesh Damani : No I have not. Any site I can check out. Kalyanaraman : I am afraid that we can, in no way, avoid falling into a debt trap ,since the economy is running atleast to the extent of (say) 50% due to bad bank loans..etc..do you see any ray of hope (realistic view) that we can avoid getting into a debt trap ? Ramesh Damani : No. Especially if you look at looming problems of UTI & IDBI. Only growth can save us. I see no growth. uio : yesterday there was some renewed interest in tech stocks. any particular reason for tat? Ramesh Damani : Technical bouce is what I appropriate it too. wess : market is goin deeper into red. What will happen to US 64 now Ramesh Damani : I shudder to think. Already they are talking to postpone NAV date due not to hurting "investor sentimet". That is a joke. rupali : the tech stocks still seem to be doing fine. what's the reason mr damani? Ramesh Damani : They are? Which ones are you talking about. arahaman : When VSNL is not privatised there are lot of hue and cry in the market. ButL&T is doing the same thing with their Cement divison, What is the response from the market? Ramesh Damani : You are right. But look at the price of L&T. It gets hammered. Management has no respect for shareholders. This is underperforming. shah : Dear Sir, From 1972 to 1992 investment in stocks were fetching an average return of 22/23 % return,when bank interest was around 16/18 % / annum.Now interest rate has gone down to 12/14 % . Do you think that same return can be fetched with this new rules of game? Ramesh Damani : That would be impossible. You can't return those kind of numbers except in the middle of a bull market or with great inflation. jas : Mr Damani, Do you feel e-serve will be affected due to the US situation ? Ramesh Damani : I have just returned from E-serve AGM. They are cautious, but optimistic. Full year turnover should touch Rs 160-170 crores. akshay : what do u think will be the valuation of i-flex shares post launch? Ramesh Damani : It's difficult to say. However it should be benchmarked against INFY and WIPRO. dips : What do you think of the level of involvement that people have once they buy a stock???? do they really follow the company's progress? why is that kind of education absent among most Indian investors? Ramesh Damani : It is too broad a question.However we have become a nation of day traders. People do not focus on the long-term. jas : Your view on Sonata for the long-term ? Ramesh Damani : The stock has been in a freefall. I am not sure why. I would avoid it at current time because of lack of knowledge. damn : mr damani.. how long will the slump last? :(( Ramesh Damani : Japan has been in a slump for 15 years. Thailand for 7-8 years. If govt does not wake up, this could be a long one. jas : My personal view Mr Damani is that Blue Dart is a fantastic company because of their vision of being supply chain experts rather than just a courier company. Any comments ? Grossly undervalued I feel too.. Ramesh Damani : I like it and own it too. Take a look at Gati. It isalso in delivery/logistics business.It is a good business. damn : ramesh bhai, which sector do u think looks worth investing in now? Ramesh Damani : I like IT Enabled and Breweries. jas : Also, geometric seems to be terribly undervalued. Any reasons/insights ? Ramesh Damani : It is a good stock with good management. However, it is getting overcrowded by the big boys. Buy it around Rs 50-55. bang : hmm.. wat do u thnk of the ub group? any particular recommendations when it comes to breweries? Ramesh Damani : Mr Mallya has turned a new leaf. I think he will deliver to his shareholders. It is a very attractive business in the future due to the fact that India'spopulation is very young. Also no ads mean no new brands. jas : But Dr Damani, Geometric operates in a niche largely untouched by the big boys...? So, they do have a story, right ? Ramesh Damani : Yes they do. They have a market cap of Rs 25 crores and cash worth Rs 18 crores. Management is good. However visibility remains dim for the next year. This year is okay. ramki : What is your view on Rolta and Silverline Ramesh Damani : Avoid them. The days of momentum stocks are over. Shivanee : Rameshji where do u see the Sensex at its bottom? Ramesh Damani : The next support level is 2500 points. If we break that, it is 1980. I think we will hold at 2500. Ashish : What u think about Reliance Petro Ramesh Damani : UTI stock has a critical overhang. It would pose a problem. sandeep : does daily trader earns? Ramesh Damani : Not after July 2. (rolling) Ashish : What u think about Tisco, Reliance, HLL at the current level? Please I really need ur advice. Ramesh Damani : THe best of the three is HLL. The other two are under pressure from UTI and FII. Rajeev : can u tell me about the fullform of NASTA & NIFTICAN U TELL ME WHAT IS THE FULLFORM OF NASTA & NIFTI Ramesh Damani : No I can't. DO you mean NIFTY and NASDAQ ? Shivanee : Rameshji even if military attacks by US on Afghanistan & Pakistan, will Sensex hold at 2500 or touch 2000? Ramesh Damani : One can never predict accuarately. However 2500 is quite strong. bipin : Which company benefited from present crises Ramesh Damani : Defence companies and companies earning in dollars. Join the Ramesh S Damani chat every Tuesday at 1600 IST. ALSO SEE:
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