'The road to Dalal street is littered with broken dreams'
Ramesh S Damani says the market is brittle but we may not violate the 3920 level easily. He also has a lot of advice for investors.
Mr Ramesh Damani (Wed May 17 19100 6:5 IST)
Hi! Thanks for joining in. Let's start.
nishit (Wed May 17 19100 5:24 IST)
hello mr ramesh i would like to know whether the share price of zee is going to fall further,can v buy at this price.
Mr Ramesh Damani (Wed May 17 19100 6:6 IST)
Nishit - zee seems in a major bear phase. I would use rallies as exit opportunities.
new (Wed May 17 19100 5:23 IST)
what do u think of the markets at present sir?
Mr Ramesh Damani (Wed May 17 19100 6:6 IST)
new-markets are very brittle. We will not violate 3920 easily - but making money will be hard.
new (Wed May 17 19100 5:25 IST)
what happened today in the last one hour of trade? stocks fell like nine pins dropping drastically?
Mr Ramesh Damani (Wed May 17 19100 6:8 IST)
new-this fall is typical of bear market falls. No news, just a sharp sell-off. Market cannot hold to any gains.
viresh (Wed May 17 19100 5:56 IST)
is this the bear market
Mr Ramesh Damani (Wed May 17 19100 6:10 IST)
viresh - yes I think this is a bear market. Your benchmark stock is down 60% from peak (INFY)
gautam ahuja (Wed May 17 19100 6:0 IST)
hello sir, i would like to know what should i do with hindustan oil exploration co ltd shares and if it is advisable to convert them, in which of the following companies 1. cipla 2. gnfc 3. rcf
Mr Ramesh Damani (Wed May 17 19100 6:11 IST)
gautam - good question. HOEC has failed. Mgmt has not delivered for 15 years. Let's think about some conversions though RCF may be okay.
ASHISH (Wed May 17 19100 5:55 IST)
SIR WHETHER SUCH DOWNFALL IS ONLY DUE TO SENTIMENT OR THERE ARE ANY OTHER REASONS FOR THIS DOWNFALL
Mr Ramesh Damani (Wed May 17 19100 6:12 IST)
Ashish- lack of second generation reform by govt and worldwide speculative binge hangover.
rohit (Wed May 17 19100 6:8 IST)
Hi Mr Damani. is it a market to keep short positions?
Mr Ramesh Damani (Wed May 17 19100 6:13 IST)
rohit - it is a market to keep cash. I would suggest a minimum of 15% in cash.
rupali (Wed May 17 19100 6:12 IST)
Is there any point in commiting fresh fund in the market at this point, Mr Damani?
Mr Ramesh Damani (Wed May 17 19100 6:13 IST)
rupali - see earlier answer. A certain portion of your savings must be employed in the market long term.
HARSH (Wed May 17 19100 5:55 IST)
IS CADILLA WORTH BUYING.ALSO WHY SHREE RAMA MULTITECH IS FALLING
Mr Ramesh Damani (Wed May 17 19100 6:14 IST)
harsh - i am not following cadilla
rahulg (Wed May 17 19100 6:12 IST)
CEMENT STOCKS=AS THERE IS NO WATER FOR THIS QUARTER(A-J)=DROUGHT=CEMENT DESPACHES WILL BE LESS …SO JUNE END RESULTS FOR CEMENT STOCKS ARE GOING TO BE BAD!! AND AS THERE IS HARDLY ANY CONSTRUCTION ACTIVITY DURING Q2 (JULY -SEPT) DUE TO RAINS, Q2 RESULTS ARE ALSO GOING TO BE BAD!!!!ISN'T IT????? SO WHEN SHOULD ONE TAKE POSITIONS IN THE CEMENT STOCKS=WHICH ARE YOUR PICKS IN THIS SECTOR????
Mr Ramesh Damani (Wed May 17 19100 6:15 IST)
rahulg- bad news is discounted. Mergers and acquisitions will start in cement industry. Look at L&T
Umesh (Wed May 17 19100 6:15 IST)
Hi Ramesh, Is it the right time to invest in the market and if yes which stocks should be bought at present. Can you please suggest few names?
Mr Ramesh Damani (Wed May 17 19100 6:17 IST)
Umesh - I would wait. market will give us a clue when it has bottomed out.
rahulg (Wed May 17 19100 6:8 IST)
TISCO==A BUY ??Tata Iron & Steel Co. Ltd has announced a net profit (before extraordinary items & tax) of Rs 4991/- million for the year ended March 31, 2000 as against Rs 3138.70 million in FY 99. The revenues are up by 9.82 % at Rs 68908.70 million. The net profit after extraordinary items and taxes is Rs 4225.90 million as compared to Rs 2822.30 million earned in the previous financial year. The operating profit stood at Rs 12331.40 million (FY 99 Rs 9366.50 million). The interest charges were 19% higher at Rs 3599.60 million over Rs 3015.60 million incurred in FY 99. The company has earned an extraordinary profit of Rs 1252.60 million on sale of net assets of its cement division and Rs 102.20 million on sale of long-term investments. The Employee Separation charges for the year were Rs 1579.90 million as against Rs 1154.60 million in FY 99. The cold rolling mill at Jamshedpur has been completed within a record time of 26 months, two months ahead of schedule and within budget. Trial runs commenced on 24th April 2000.
Mr Ramesh Damani (Wed May 17 19100 6:18 IST)
rahulg- i will look at tisco results closely. However it doesn't excite me. Steel will never be our core competence.
gautam ahuja (Wed May 17 19100 6:17 IST)
hello sir plz tell me i have a good holding in cipla ltd what is the price expectations in a 6 month period
Mr Ramesh Damani (Wed May 17 19100 6:18 IST)
cipla - i have no price expectation - it's a good stock and i would hold it.
rahulg (Wed May 17 19100 6:18 IST)
WHY INDIA DOESN’T HAVE "GROUP" LIKE THE "NASDAQ"??
Mr Ramesh Damani (Wed May 17 19100 6:19 IST)
rahulg- do not be surprised if NASDAQ itself comes to India. They are opening in Japan, Europe.
tillu (Wed May 17 19100 6:19 IST)
mr. damani please suggest about dsq software i am holding large quantity
Mr Ramesh Damani (Wed May 17 19100 6:19 IST)
tillu - be careful. though the recent crash has reduced its risk premium
gautam ahuja (Wed May 17 19100 6:20 IST)
what would u buy sir at these levels. that's a nice way to put it so we can know what the knowledgeable ppl r doing hehehe
Mr Ramesh Damani (Wed May 17 19100 6:21 IST)
gautam - last week i recommended BEL at around 65. It's still there. It's an absolute value.
Mr Ramesh Damani (Wed May 17 19100 6:21 IST)
gautam - i have been keeping quiet and having long lunches.
Umesh (Wed May 17 19100 6:19 IST)
Is Usha Beltron worth getting in to now Ramesh?
Mr Ramesh Damani (Wed May 17 19100 6:22 IST)
umesh - I think in this market you have better values. I have a hold on it.
rahulg (Wed May 17 19100 6:22 IST)
IPCL==WHY IS IT IN DEMAND NOW??
Mr Ramesh Damani (Wed May 17 19100 6:23 IST)
rahulg- maybe the govt will finally get its act together and disinvest.
yusuf (Wed May 17 19100 6:21 IST)
should we buy zee and ranbaxy at this rate
Mr Ramesh Damani (Wed May 17 19100 6:23 IST)
yusuf - i am bearish on zee neutral on ranbaxy
gautam ahuja (Wed May 17 19100 6:23 IST)
sir i wanna know bout hfcl and kale consultants at these levels
Mr Ramesh Damani (Wed May 17 19100 6:24 IST)
gautam - i am not a fan of hfcl. kale i may buy once software stabalises.
rahulg (Wed May 17 19100 6:24 IST)
SHOULD I INVEST IN M&M NOW OR WAIT FOR ANNUAL RESULTS ON 31MAY???
Mr Ramesh Damani (Wed May 17 19100 6:24 IST)
rahulg- wait on M&M
Umesh (Wed May 17 19100 6:24 IST)
Well the Chat is getting rather hectic for you Ramesh! What about HLL
Mr Ramesh Damani (Wed May 17 19100 6:25 IST)
umesh - its fun. HLL is at best a defensive buy. No hurry to own it. Their sales growth is anemic. If they buy INT BEST FOODS, this would spice things up.
gautam ahuja (Wed May 17 19100 6:26 IST)
sir if i wanna invest rs 5 lakh in all the sectors what stock would u recommend in the following software, media, communications, pharma, fmcg
Mr Ramesh Damani (Wed May 17 19100 6:27 IST)
guatam - people assume it's very easy to make 5-10 lakh in the market. It's not. You need discipline and focus at least to keep it. The road to Dalal street is littered with broken dreams.
Mr Ramesh Damani (Wed May 17 19100 6:32 IST)
gautam - if you can grow 15 lakh at 20% p.a. you would retire very rich. learn the principles of compounding.
Mr Ramesh Damani (Wed May 17 19100 6:29 IST)
if you must invest software - infy, fmcg - nestle or colgate, pharma/agrochem - abbot, Agrevo, media - no great choices.
Umesh (Wed May 17 19100 6:26 IST)
Can you name one better value buy? I don't mind holding it for a year or more!
Mr Ramesh Damani (Wed May 17 19100 6:27 IST)
umesh - see my earlier comments on Bharat Electronics as an example
rahulg (Wed May 17 19100 6:28 IST)
BHEL IS IT WORTH A LOOK ??ANY BOTTOM TARGET (STOP LOSS)
Mr Ramesh Damani (Wed May 17 19100 6:29 IST)
rahulg-get it disinvested. You would unlock great value.
prakash (Wed May 17 19100 6:29 IST)
what r ur recomendations for the week?
Mr Ramesh Damani (Wed May 17 19100 6:30 IST)
prakash - range bound from 4000-4600. choppy days ahead still.
gautam ahuja (Wed May 17 19100 6:30 IST)
sir sorry but what bout cipla i am a great fan of the stock and i bought some at around 1300
Mr Ramesh Damani (Wed May 17 19100 6:30 IST)
gautam - hold it. Company has delivered over many years. It will come back
RAJA (Wed May 17 19100 6:32 IST)
i have bought himachal at Rs.1900/- should i average or pospone further investment
Mr Ramesh Damani (Wed May 17 19100 6:32 IST)
raja - I would avoid fresh investments at Himachal.
gautam ahuja (Wed May 17 19100 6:32 IST)
r there chances of hoec picking up i hold a verry large no of shares in it
Mr Ramesh Damani (Wed May 17 19100 6:33 IST)
gautam - co is a failed investment. I own some too. Let's hope it revives.
rahulg (Wed May 17 19100 6:31 IST)
ABB==IS IT ACCUMULATE??
Mr Ramesh Damani (Wed May 17 19100 6:33 IST)
rahulg- i like abb. it is an accumalate
Umesh (Wed May 17 19100 6:31 IST)
Hey Ramesh that is last weeks suggestion !!!!! What about this week's VALUE BUY?!!!!!
Mr Ramesh Damani (Wed May 17 19100 6:34 IST)
umesh - no new ideas. it's hard to get a pick a week. But look at Indian Hotels as a value buy. Its market cap is Rs 1000 cr only.
gautam ahuja (Wed May 17 19100 6:34 IST)
which what do u think of gnfc i have a large holding in it too
Mr Ramesh Damani (Wed May 17 19100 6:35 IST)
gautam - gnfc has a pretty poor profile too.
RAHULGI (Wed May 17 19100 6:35 IST)
THANX SIR==LAST ONE WARTSILA NSD==IS THIS SCRIPT WORTH PICKING ??HAS IT GOT ORDERS WORTH $100MIL??
Mr Ramesh Damani (Wed May 17 19100 6:36 IST)
rahulg - not that I have heard. Let me know if it's true though.
smita (Wed May 17 19100 6:34 IST)
hi mr damani -- what do you think of Vans. You had called it expensive at Rs 240.
Mr Ramesh Damani (Wed May 17 19100 6:37 IST)
smita - it got slaughtered with the dot coms. It may be good value around Rs 40. Currently around 90 because it is in rolling though.
gautam ahuja (Wed May 17 19100 6:36 IST)
but gnfc was supposed to be one great stock and it's a nice dividend paying company too. 2 Rs per share
Mr Ramesh Damani (Wed May 17 19100 6:37 IST)
gautam - operating word is WAS
Umesh (Wed May 17 19100 6:37 IST)
Can I Buy Indo Gulf at 36? Isn't it a Value Buy Ramesh?
Mr Ramesh Damani (Wed May 17 19100 6:38 IST)
Umesh - IGF at 36 is a value buy without the sex appeal though.
raja (Wed May 17 19100 6:37 IST)
Mr. Ramesh should i book loss and shift to infy or satyam
Mr Ramesh Damani (Wed May 17 19100 6:39 IST)
raja - its a tough call to make
prakash (Wed May 17 19100 6:38 IST)
i'm sitting on cash which scrips do u recommend?
Mr Ramesh Damani (Wed May 17 19100 6:39 IST)
prakash - you are lucky. Keep some. You will get bargains.
raja (Wed May 17 19100 6:40 IST)
Mr damani today some analyst seemed optimistic on market touching 6000 levels again what would you say
Mr Ramesh Damani (Wed May 17 19100 6:41 IST)
raja - markets are funny. It could go to 6000 however conditions are not ready yet.
Mr Ramesh Damani (Wed May 17 19100 6:42 IST)
thanks for joining in today. Have a prosperous week ahead. Good bye.
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