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'Buy tech, sell PSU'Mumbai, October 17, 2002: 'The BPO and ITES sector remain my favourites. I am hopeful about divestment of HP. The rest seem unlikely,' says Ramesh Shrichand Damani.
Ramesh S Damani : Hello everyone thanks for joining in. Let's start. rk : do u think that ram naik is the primary reason why divestment is held up? Ramesh S Damani : I won't say that. It is the PM's responsibility to implement the plan. He can always take over the petroleum minister. deepa : PSU pivotals are once again slipping. mr damani what do you think about the divestment plan after PM's statement? Ramesh S Damani : I am hopeful HP will get done and maybe Shipping and Engineers. The rest seem unlikely jackie : what is ur take on mascot and Niit? Ramesh S Damani : No compelling reasons to own it. jack : but what about hpcl and bpcl Ramesh S Damani : HPCL if you have some courage for daily scares. I own some. jackie : what is the best sector to invest in right now? Ramesh S Damani : BPO or ITES remain my favourites. kartik : how do u find efunds now? haven't heard ur opinion on it for some time Ramesh S Damani : Do you mean e-funds or e-serve?? Tina : FII is selling mcdowell according to a newspaper report..what is your take? Ramesh S Damani : They are. However, I think it is good value if you are patient. Tina : u think the management will sit up since the cause is bad management? Ramesh S Damani : Warren Buffett was once asked what he likes. Good business or good management. He said good business. The liquor business is going to boom in India. kartik : e-funds Ramesh S Damani : e-funds is not listed so I don't know. smallinvestor : rameshji, any triggers expected for Mcdowell? Ramesh S Damani : Just value and the fact that after restructuring UB, he will move on Mcdowell. smallinvestor : should we exit reddys and cipla or they r fundamentally strong? Ramesh S Damani : I would hold them. raja : how would u rate the performance of jaswant singh as finance minister? Ramesh S Damani : He is still settling in. smallinvestor : suggest some good defensive stock, how is J&K bank, pls tell sir? Ramesh S Damani : The results are too good to be true. Amount of tax paid is very good. However dont have any conviction in the sustaining of the earnings. ramya : have you changed your stand about SSI ? Ramesh S Damani : No. sunny : good evening, What is the future of PSU & INfotec co.. shares at presebt. To hold or sell off Ramesh S Damani : Buy tech, sell PSU nirmal : What do you think of continuously decreasing HINDALCO Ramesh S Damani : Aluminium prices are under pressure. pappu : where do u see the psu stks going from here on Ramesh S Damani : If divestment is not done, these stocks will fall. rsdfinance : take a look at camlin rameshbai and also give me ur views ....looks like a double up fromthese levels Ramesh S Damani : Company has never delivered growth numbers. smallinvestor : sell PSU", this is ur message for selecting PSU or all, if at all we have to buy tech, suggest some good counter? Ramesh S Damani : I still have PSUs like Container, BEL, HP. However, I like to sell them in tech. Stick to the recommended BPO counters. vkn : how do you expect Tata Tea and Tisco to behave in short term ?? Ramesh S Damani : I am expecting Tisco to have a good quarter. sachin : what do u think about NIIT? should we buy it now? Ramesh S Damani : Not excited by it. anildesai : WHAT IS THE FUTURE OF INFOTECH MUTUAL FUNDS WHO HAVE LOST 70% in last 21/2Years? Ramesh S Damani : Pretty bleak I would say. aman : why is the market so heavily dependent on infosys Ramesh S Damani : It is the benchmark. sagar : dear rameshji, what is the 3yr locking period people are talking about nalco ? is it ok to buy this stock now? Ramesh S Damani : The strategic investor will not be able to sell his holding for three years. pappu : where do u think reliance would reach in a one month period Ramesh S Damani : After a 1000 point rise in Dow, if we can't go up it means marketw ill re-test and probably break 2930. It is unlikely that Reliance could move up. smallinvestor : pls share with us the scrips ur currently studying or counters which u have studied? Ramesh S Damani : Nothing new. sps : What woudl be the staus of IT RElated Mutual FUNDS of ICICI Pudential Ramesh S Damani : Not followed them recently, but I am sure they are suffering. sriram : i keep observing that almost as if by design that many tech shares go down or up together as a bunch and follow a perfect synchronous curve. When so many investors/brokers/operators are in the market, how come this designed or herd mentality ? do they plan and operate/manupulate the market? Ramesh S Damani : That is the way the market functions. A rising tide sweeps all. Typically if all scripts don't participate, be wary of the move. NAISAR : ANY VISION ON VISUAL? Ramesh S Damani : Results are expected to be goodplus movement into bpo.However i thing mgmt must proovethemselves before we put abuy on it NAISAR : WHAT IS UR INFORMED OPINION ON INFOSYS? Ramesh S Damani : Will trade at a higher trading range. However, any gains will be soon capped. It is not the Infosys of old. smallinvestor : why is SBI not picking up, it is at a very low PE and doing well also? Ramesh S Damani : I agree. There is no fresh money in the market. stocktalk : stocktalk says, rameshbhai ... is the future bright ... is it orange or is it black :) ? Ramesh S Damani : Looks dull grey. Anuj : I have been holding the mutual funds of IT sector. I am having these for the last two years...is it a right time to sell them if you feel in future rates are not going to rise Ramesh S Damani : That depends on a lot of factors and your appraoch to the markets. If Sensex breaks 2930, I would sell the funds. However if you are long-term and like the funds, hold on. ram : rameshji, please tell me should i be a long term investor or short term? i keep seeing short term is paying off better. with trading taking dominant position, for long term gains , it appears , we hv to really wait long term!! Ramesh S Damani : If you are a long-term player in good scripts, chances are you will come out ahead. In the short run only two out of 100 can make money. It is a tough game. vkn : Do you think the profit story of J&K banks is a flash in the pan ? Ramesh S Damani : No, they pay taxes. However, something is not right. I can't figure it out. arahaman : RAMENSH, LAST FEW SESSIONS U ARE SPEAKING ABOUT MEDIA STOCK. COULD U SUGGEST SOME GOOD STOCK IN THIS FIELD? Ramesh S Damani : I have not bought any. Just studying at some point. Zee will become attractive. md : sir,Fii reduced holding in mcdowell(et news) is this a resaon for scrips lackluster perfomance? Ramesh S Damani : Maybe. jayakanagaraj : Dear Ramesh,Is it neccesary to have a DEMAT A/C. for buying and selling the shares? Ramesh S Damani : Yes. NAISAR : DO U THINK SAMIR ARORA IS THE KP OF TODAY`S MARKET? Ramesh S Damani : No. sunny : what is the futurw of HFCL & Global tele Ramesh S Damani : Not optimistic. aman : can u suggest any good book on equity Ramesh S Damani : For beginners? aman : yes for beginners as well as for advanced level Ramesh S Damani : For beginners, One up on Wall street by Peter Lynch. For advanced there are many to choose from. Depends on your style. ram : by seeing the results of a company, how can u find out whether the numbers are manipulated? during 1990s, many companies cheated the public with fake numbers. Ramesh S Damani : That is an art. Check the tax and dividend figures in an audited result. Those are generally accurate. guptaone : rameshji! still u r bullish on mcdowell based on its valuations & business share? Ramesh S Damani : Yes i am. It is very cheap and I am hopeful of the future. vkn : Where do you see the senex headed to in the next 3 months time frame ? Ramesh S Damani : Looks like the rally is getting tired and if we test 2930 again, we will break it. aman : sir as a analyst which book will best suit me Ramesh S Damani : Try with Making of An American Capitalist bye Roger Lowenstien or Market Wizards by Jack Schwagger. sagar : dear rameshji, what could be the maximum slide for mcdowell if sensex goes down tremendously? alteast i can buy this and forget Ramesh S Damani : Between 30-35 should be strong support. ram : i hv a gut feeling that politicians and their opeartors are manipulating HP/BP stocks by giving daily contradictory statements on HP/BP disinvestment. i read a news item on a website that one big politician bought 10 lak hpcl shares at low price. your comments plaese? Ramesh S Damani : No comments. sps : SIR as samll inverstor in which mutual fund should we invest as i am a small investor RS 10,000 every month Ramesh S Damani : I don't study mutual funds. Sorry. Kuldeep : what % allocation should be done between new eco sscrips and old eco scrips in a fresh portfolio Ramesh S Damani : Maybe 70 new and 30 old. arahaman : DEAR RAMESH, MY WIFE DOESN'T ALLOW ME TO SEE ANY ZEE PROGRAMME. SHE AND HER OTHER FRIENDS ARE TOO FOND OF STAR. IN THIS SITUATION DO U THINK ZEE HAS A GOOD FUTURE? Ramesh S Damani : They are unveiling a bold new strategy of first run films that would help. Programming has been a disaster, I agree. sagar : dear rameshji, you have been recommending tech stocks in preference to psu, so kindly pick one or two stocks from these,,,,satyam, polaris, hcl tech, rolta, infosys Ramesh S Damani : In tech, look at ITES. I have recommended these stocks in the past. guptaone : rameshji! any idea on when UB will be listed? Ramesh S Damani : Should be soon. Good day. See you all next week. |