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Home > Business > Stock Chat > Transcript
'I would sit on the shares'
March 01, 2005
aniljain : there're no talks/indiaction about disinvestmnt in budget,is it abondoned or what?
Ramesh S Damani : Hello everyone. Thanks for joining. Let's start. FM has said that is up to the economic affairs committee. Obviously the Left is having its way.
stockscrazy : hii damaniji please tell us about your views about shaw wallace open offer .even if mallya gets 100% response what are the positives and negatives ?? please consider this scenariomcdowell+herbertsons+ 0% or 25% or may be 100% of SWC=pricing powerpricing power is certainly a positive as you told us earlier .do you see anything negative in it??
Ramesh S Damani : Where is he going to fund it? It would however be a plus on my view.
rksachan : Sir, Aegis Logistic is hitting the upper circuit for last 2 days. Do you think that one should buy this stock for his portfolio? Please do reply.
Ramesh S Damani : I trade in Aegis and I own it.
brahma : Hi Sir good evening , is it the time to buy Matrix labs shares at present situvation.
Ramesh S Damani : I would not recommend it at current levels.
sharekhan : hello sir, Please tell me at what point to buy NTPC & SBI [Get Quote].It would be a mid term investment
Ramesh S Damani : I think SBI makes sense at this time. I own it
ShamaDalal : Can you please throw some light on Venky's potential in future?? Also on their growth plan
Ramesh S Damani : Good co well managed in the poultry business. We need to see how they scale up
SHARAD : What should be the impact of 10% service charge on construction ind mainly on Housing Fin & Cement Sector??
Ramesh S Damani : On what component is it being levied. That is unknown. It is a negative
RKSingla : CONCOR:- In rly budget govt has announced to end the monopoly of CONCOR. Any stock which could be benefited from this ??
Ramesh S Damani : Maybe, i am not sure but Gati and Balmer Lawrie.
Vdatar : Mcdowel has declared 3/4/05 as specified date for open offer of shaw wallace.What does this date indicate?
Ramesh S Damani : If you are a holder on that date you can tender.
mlnarayan : Hi Ramesh, of late Praj Industries [Get Quote] has shoot up thru the roof ,appreciate your views on that, supposed to be manufacturing herbal fuel ,are there any similar companies in this business ?
Ramesh S Damani : Not sure of any other company.
akss : sir, as per budget gain from derivative will not be treated as 'speculative' . so can we treat these as short term gains?
Ramesh S Damani : Not really as business income actually
Vinda : Good day, Sir. Godrej [Get Quote] Ind. slipped from 142 to 106. With property business value unlocking, hqw far it should go? Will it recover lost ground?
Ramesh S Damani : The stock is closer to 125
deepak : Damaniji, your view on upcoming IPO of PNB? Should we go for it?
Ramesh S Damani : Does not excite me.
JesseLivermore : Did you have a look at tulip star? i did check as per your instruction. the hotel has not been sold to sahara group. Infact on the back of an amalgamation news, the stock has hit 4 upper circuits last 4 days. Its still selling for 34 cr market cap for a 350 cr asset. Whats your view on it sir?
Ramesh S Damani : No I did not. But add the debt component.
susmita : goodevening sir after budget which sector do you think is advisable for investment ? any specific picks
Ramesh S Damani : Nothing stands out at this time.
baracuda : would you sell your infosys and reinvest that capital into nucleus soft or should both be considered separate investments
Ramesh S Damani : Seperate
pomie : Good evening sir,is ashok ley attractive at current levels ?
Ramesh S Damani : Looks okay to me
SinglaRK : SANDESH:- Are u bullish on it bcoz you are generally bullish on media or you specifically like this stock ? They have exited health care venture as it was not going great guns and would probably concentrate back on their core business of newspaper. They have also started Bullion and Export/Import business which is not giving much returns as yet. There is not much growth reported in newspaper segment from last 2-3 years. However stock has good Book value(177 per share) and currently trading below it. Please elabortae that which makes you feel that stock would do better ??
Ramesh S Damani : I have just made a token investment. I am trying to study it.
william : Do u think VST and GPI get majorly affected by the price increase. I guess they will just pass it on to the end user
Ramesh S Damani : Pass it on
pawan : sir do you think that ntpc can cross 110 in near terms ?
Ramesh S Damani : Looks hard
SinglaRK : HYDERABAD Industries [Get Quote]:- Their cement sheets business is on a ride. Moreover demand for cement sheets looks good as prices of steel sheets are expected to remain high. However their Heavy enginerring business is still not good. In your last chat perhaps you also recommneded this stock. What do you expect from this stock .
Ramesh S Damani : I don't remember recommending it.
Raj : Damanji, what are your favorite banking stocks? Should one invest in private banks like SBI,PNB or private like ICICI [Get Quote]?
Ramesh S Damani : Take a look at weak private banks they can be sold soon. Like Bank of Punjab.
Newbiessatstock : Sir have you been doing anything lately any new positions( i was going through the reliance media fund i think it's prety decent for someone wanting exposure to the sector.
Ramesh S Damani : Sounds good.
Amit : Budget : No -ve is + ve. Is this crux of this budget. Some disspointment like labour reforms etc but big +ve as corporate tax down . What is the implication of budget on market for long term
Ramesh S Damani : Fringe tax seems unwieldy. No big ideas.
Raj : TV TODAY - Sir, in your last chat you talked about TV TODAY? Any specific reasons for this. It has been falling down for last many months.
Ramesh S Damani : Looks good value to me.
JesseLivermore : Even after debt repayment (debt of 150 cr) the net asset would be 200 cr for 34 cr market cap. Thats still cheap sir. Another one is Morarjee realty. It owns 25 lakh sq. feet free/builtup in parel worth 1000 cr (@4000rs/sq. feet). Current market cap is 140 cr with a debt of 300 cr. So EV of 440 cr for a 1000 cr asset. THis is owned by piramals. Have you looked at it sir?
Ramesh S Damani : You are on track and with FDI in realty, value will be unlocked over time.
Raj : Sir, in last chat your last comment was TV TODAY. Can we go for a initial exposure or full investment?
Ramesh S Damani : Initial exposure.
Amit : Sundaram Finance [Get Quote] : Looks like Lion is ready to roar after cut in corporate tax . Whats your view
Ramesh S Damani : Hard to say when it will move, keep an eye on it and be patient.
JOEGRANVILLE : Ramesh,Sir John Templeton is reputed to have once remarked that bull markets are born inpessimism, grow on skepticism, mature on optimism, and die of euphoria.At what stage of bull market is Indian stock market currently???Thanks
Ramesh S Damani : I think it is still intact somwehere north of skepticism
susmita : sir hotel industry is booming. plz tell ur views on Jaypee hotel , savera hotels blue coast hotels. Do you have any particular favourite ?
Ramesh S Damani : None among those
scrippy : Respected sir, among the textile stocks what is your view on Abhisek Industries. There was a huge block deal today. Doesnt it indicate that the company has a bright future? Any other textile stock that exites you. Kindly answer sir.
Ramesh S Damani : They have had a huge run up. So don't get too excited at current prices.
gsd : I am holding 500 Hincons af 500 Blue dart bougt at 200 each.I want to know ur view about the future.It is right to book profit.thanks
Ramesh S Damani : That is for you to decide. It's not easy to decide when to sell clearly they are not obvious sells.
pawan : sir tisco was once your favourite. dont u think that steel sector had been peaked out ? any target for tisco ?
Ramesh S Damani : I think it has steam left.
SUNIL : SIR WHAT IS YOUR VIEW ON HINDUSTAN MOTORS [Get Quote] IF WE LOOK AT IT FOR A LONGER TERM ?.... SIR PLEASE REPLY
Ramesh S Damani : No view on it.
InfyAnalyst : Balmer Lawrie :- Sales is 1000 Crores and Mcap is just 300 Crores.What according to you should be its Mcap ??
Ramesh S Damani : Sales is greater than 1500 cr(consolidated). M-cap is for the market to decide.
JesseLivermore : Sir, your friend RJ has on two occassions mentioned his philosophy of investing 1.Whats the opportunity, how is the company placed in that opportunity, is the valuation attractive. 2.Market leader, scalable model, attractive valuation..The former is a top down approach, the latter a bottoms up. Which one do you think works better? Even Ramdeo ji uses top down. Whats your view?
Ramesh S Damani : You tend to blend the two at least in growth stocks.
tintin : Sir, I have been sitting in sidelines for long. I have yr value and core stocks like tata elxsi , sbi , apo hosp , kale con , ndtv etc going up and up. Is it right to wait for the market to fall or is the rise for real.
Ramesh S Damani : I would sit on the shares. Market looks like it will correct but that is the nature of the beast.
vavnathan : Sir, what is yr view on SKF. Whether to sell in the maret or wait for open offer?
Ramesh S Damani : I would wait.
Amit : UB HOLDINGS : Is this your core holding. After recent development , UB H deserves a relook and rerate. Whats your say.
Ramesh S Damani : I would take a hard look at it. They have an impressive bouquet of assets.
baracuda : history shows and it has happened for the last so many years march is always a cruel month for stocksdo yu agree
Ramesh S Damani : I am not a big believer in seasonality.
Fraser : You asked, Good Evening sir, Any views on Centurion Bank..Is it advisable to hold on current values
Ramesh S Damani : Not cheap at these prices.
anupta : Sir I have around 500 shares of tvtoday purchased at 110/-. I am holdng them for a long time. But was loosing patience of late. But on the last week's chat I saw that u are concentration your holdings on tvtoday. Sir how do u rate this company as the financial results are not good of late and there is only one revenew earning channel, namely ajjtak and headlines still didn't make any impact.Is it not overly valued. Do u suggest a switch to other media channels. Please guide me. I need your help. Thanking u Sir
Ramesh S Damani : My sense is that once FDI in broadcasting is done they would perk up. Until then be patient.
tintin : Sir, I have been following yr chat for last 3 months. your basket of core and value stock - are they still recommended to be bought at their current values. If so, pls recommend few of them for 1-2 yr horizon
Ramesh S Damani : As I like them I recommend them the rest is for all of you to decide. I am not a good market timer.
chandani : AND ACOORDING TO your esteemed opinion which is a good GROWTH story?? which stock has potential for a good growth down the line????
Ramesh S Damani : No new ideas. I would stick to what I have.
deepak : Damanji, your favorite SURYA ROSHNI [Get Quote] not moving for some time now. Can we invest in it NOW?
Ramesh S Damani : I think so.
Amit : GATI and BALMER LAWRIE : Are these great long term value picks along with Godrej . can we buy at present level with 50% appreciation in view in one year
Ramesh S Damani : They look attractive to me at current prices. I own them.
susmita : sir some stocks have negative EPS &P/E ratio.still those stocks r doing good . how is it possible ? Isnt PE ratio & EPS imp factor to be taken into consideration before buying any script.
Ramesh S Damani : Market has many dimensions those are just two.
scorpene : Good evening sir I have bought surya roshni at 33 and kale consultants at 85. your views pleaseeeeeeeeeeeee and can in invest more in these stocks. your views pleaseeeeeeeee
Ramesh S Damani : I would hold on.
vavnathan : Mr.Ramesh, I thin Seasonality does't play, but in March, most investors will sell their stocks for investment to reduced tax liability and since march is last month for TDS, most of the people will take megre take home pay.
Ramesh S Damani : Markets don't make money for timers.You need to learn to ride the boat.
Dharmesh : Sir, Man industries, gas pipe manufacture, has shown some volatility, I am holding that stock, anticipating GAS boom. Do you think my belief of long term play is right? Do you own MAN? Thanks
Ramesh S Damani : Your logic is right. I don't own any shares at the current time.
TINU : sir with fdi in real estate & also launching airline in may (ub holding). how the value will be unlock now & how shareholder will benifit. please reply thanks
Ramesh S Damani : By selling to a strategic partner.
saj : , UB holding isuued 7,079,993 shares of Rs 10 each to promoter group and the promoter-group holding will stand increased to 54.93 percent.(As part of UBA merger withUB holding).What do u think of it ?Is it reasonable ? Does this UBA contain any value ?
Ramesh S Damani : Where did you read the deal.
JesseLivermore : Some books please, sir. Recently i read Predator's ball on Michael Milken, junk bond king.Interesting one. Pls recommend some.
Ramesh S Damani : Manias, panics and crashes by Kindel Berger.
Amit : MCDOWELL : Last week there was news that Komal Chabaria might bid for MCDOWELL . WHts the implication , where is this war heading for ? Is Mcdowell going to loose on any front?
Ramesh S Damani : I would think we will see a counter bid.
chandani : sir please convey our deepest feeling for MR. JHUNJHUNWALA HE MUST TAKE CARE OF HIS HEALTH REDUCE A LOT OF WEIGHT AS we need a great wizard like him for a long long time.. THANK you
Ramesh S Damani : I will.
pawan : sir hfcl is moving day by day with very good volume. there is a rumour that it will start a collaboration with nokia for manufacturing gadgets. are you bullish on this stocks?
Ramesh S Damani : No.
R.Singla : Are Nuclues,Balmer Lawrie and GATI your top 3 picks at Current prices?
Ramesh S Damani : Not top, but I own them all and like them.
sharmaraj : ramesh ji, what is your opinion about private banks, especially UTI Bank [Get Quote] at CMP?
Ramesh S Damani : Buy the weak private banks.
Raj : PLEASE TELL US ABOUT GAIL? 2 WEEKS BACK YOU SAID YOU LOVE GAS. CAN WE GO FOR A BIG INVESTMENT IN GAIL
Ramesh S Damani : Gas is a long-term story, I would recommend an inital exposure to GAIL.
SUNIL : SIR I HAVE FRESH MONEY TO INVEST.... SHOULD I WAIT OR SHOULD I ENTER THE MARKETS FROM TOMORROW ITSELF
Ramesh S Damani : I don't recommend timing the market. You need to buy good companies and be patient.
sureshmakhija : sir ji good evening sir seeing the budget which companys you think are the best for future thans and regards
Ramesh S Damani : Nothing new.
JesseLivermore : Petronet LNG [Get Quote] will move into black starting next qtr as it breaks even. Its got a virtual monopoly on LNG import/regassification. With service tax on pipelines, import of LNG should benefit all the more inspite of iran-india pipeline. What do you think?
Ramesh S Damani : Your logic is correct.
Raj : SIR WHICH IS YOUR FAVORITE WEAK PRIVATE BANK?
Ramesh S Damani : Bank of Punjab has sold a stake and could sell more to Bank of Novascotia.
Dharmesh : sir, Any idea where would i get HOT COMMODITIES. In mumbai, it is so difficult to get foreign print. "ONE UP ON WALL STREET" after searching everywhere in mumbai - i found that book on Bangalore airport.
Ramesh S Damani : Try Oxford or Strand. They will order.
sidhartha sinha : " buy the weak private banks" _ can you be more specific ?
Ramesh S Damani : They will be sold. Not the strong ones till 2009.
saj : UB Holding equity dilution - It was there as part of last quarter results .See Dec 2004 reults notes item number 3.Did u see my post ?
ramesh damani : Yes thanks.
newsssbeieatstock : there is a new book store in bombay called bookzone its opposite strand in D.N. road they have hot comodities, its the best book store for finance ive been to in bombay
ramesh damani : Thanks
ggg : Is there any changes being brought by SEBI by introducing some ID system where they will allocated unique no to everyone for trading? Any idea where the details will be got and when is it getting implemented? Is it for everyone or only for transactions more than certain value?
ramesh damani : More than 1 lakh by Dec 31
sureshmakhija : once you told me the book on jessie livermore tha is reminiscence of a stock operator i also had the book writeen by livermore by himself how to trade in stock which u thik is better one plzz replyyourArdentFan
ramesh damani : I think the first one is better.
saj : UB holdings - "3. The Board of Directors, at its meeting held on December 10, 2004, approved a scheme of amalgamation, pursuant to the provisions of Sections 391 to 394 and other applicable provisions, if any, of the Companies Act, 1956, subject to the requisite approval of the shareholders/creditors of the company and sanction of the Hon'ble High court of Karnataka, of the following entities, with the company, as per terms and conditions mentioned in the scheme of amalgamation, with effect from the respective appointed dates mentioned therein: Wholly- owned subsidiaries i) UB Networks (Bangalore) Pvt. Ltd ii) The Asian Age (South) Ltd iii) UB Global Corporation Ltd iv) UB Information and Consultancy Services Ltd v) UB Transit Systems Ltd vi) UB General Investments Ltd vii) UB Pharmaceuticals Ltd viii) MWP Ltd ix) The Asian Age (West) Ltd x) UB Publications Ltd Overseas body-corporate i) United Breweries [Get Quote] of America, Inc. BVI Pending sanction of the scheme of amalgamation for which an
ramesh damani : Thanks I will look into it. It is because of merger the shares are being issued
Dharmesh : Sir, any idea about INDIA GYCOLS, stock seems to be doing well and is on cheaper side. (Mono Ethelene Glycol) MEG - they are cheapest manufacture for MEG, and i think govt has cut duties on PTA, which is ingrediant of MEG along with molasse.MEG is also widely used in petroleum industry for drying gaseous and liquid petroleum products. I think it should do well. Your comments would be appreciated. Stock looks cheap. Thank you
ramesh damani : I don't follow it.
ANAND : IS THE DREAM TEAM HAS DELIVERED THE DREAM BUDGET? HOW WOULD YOU RATE THE BUDGET (1 TO 10) , PLEASE ADVISE IN WHICH SECTOR THE INVESTOR SHOULD FOCUS DEPENDING UPON THE BUDGET. PLEASE ADVISE REGARDING IT SECTOR THANKS ANAND
ramesh damani : About 7. It has been mixes. Look at weak private banks as obvious gainers. Otherwise hold on to the recommendations.
sureshmakhija : , ok thanks sir what do uis u r conclusion after reading the book reminiscence of a stock opertor plzzz i want to know u r valuable views thanks and reagard
ramesh damani : Market is a full time profession,approach it with respect not to make easy money. Thanks all see you next week. Bye
amitsarkar : sir shree rajathan texchem is almost in the same level for last 2 months. do you think it will gearup in near future ?should I hold it for long term?
ramesh damani :
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