'India is an IT destination'
Ramesh S Damani agrees with the Goldman Sachs forecast that India's information technology services revenue will reach $ 30 billion by 2004. He expects growth from IT-enabled services rather than just software. He also says that the language of our future may not be English or Hindi but Java and C++!
Mr Ramesh Damani (Wed Sep 27 19100 5:55 IST)
Hello everybody-thanks for joining in. let's start.
manu (Wed Sep 27 19100 5:51 IST)
i read a report quoting Goldman Sachs that the IT turnover of India could touch $30 billion by 2004. Is it possible to achieve considering the manpower we have?
Mr Ramesh Damani (Wed Sep 27 19100 5:57 IST)
manu - Goldman is right. Growth will come from IT enable services not just software. India is an IT destination.
richie (Wed Sep 27 19100 5:46 IST)
has the factoring of the second qtr results started.. seems so from today's price actions in the tech area. if so which would be the best?
Mr Ramesh Damani (Wed Sep 27 19100 5:58 IST)
richie - I think so. Mkt is looking ahead to 2Q results from Infosys
manu (Wed Sep 27 19100 5:58 IST)
it is tough to comprehend though this means a 100% cagr for the next 5 yrs?
Mr Ramesh Damani (Wed Sep 27 19100 5:59 IST)
manu - from Q1 to Q2
abhay (Wed Sep 27 19100 5:46 IST)
WHAT DO YOU THINK ABOUT PSU SHARES CAN I HOLD NEVYELI LIGNITE?
Mr Ramesh Damani (Wed Sep 27 19100 6:0 IST)
abhay - good b/s for Neyvelli but suffers from PSU curse. A brave fund manager should start the PSU contra fund.
anand ved (Wed Sep 27 19100 5:55 IST)
what do you feel about old cement stocks, particularly acc, l&t
Mr Ramesh Damani (Wed Sep 27 19100 6:0 IST)
anand - ACC and L&T are good value buys.
Nirmal (Wed Sep 27 19100 5:59 IST)
Sir, Acc to you at what price should hughes tele.com be listed
Mr Ramesh Damani (Wed Sep 27 19100 6:1 IST)
Nirmal - in the current market around the issue price 12-13. It will see selling soon.
BHAVIN GODA (Wed Sep 27 19100 6:0 IST)
MR DAMANI WHAT DO YOU THINK OF MARKET IN THE NEAR FUTURE? WILL SOFTWARE STOCKS RUN
Mr Ramesh Damani (Wed Sep 27 19100 6:2 IST)
Bhavin - market has made a reversal today. The low of the market seems to have support. We should see a rally develop.
Nirmal (Wed Sep 27 19100 6:3 IST)
What do u feel for cement stocks
Mr Ramesh Damani (Wed Sep 27 19100 6:4 IST)
Nirmal - the cement stocks are at historic lows. They look okay to me for value hunters. Buy them after the oil price hike.
BHAVIN GODA (Wed Sep 27 19100 6:3 IST)
MR DAMANI WHAT DO YOU THINK ABOUT SSI & BFL SOTWARE PLEASE LET ME KNOW WHETHER TO HOLD or SELL IT OFF.
Mr Ramesh Damani (Wed Sep 27 19100 6:4 IST)
Bhavin - I like BFL and SSI at current values
anand ved (Wed Sep 27 19100 6:4 IST)
what do you feel about old economy stocks telco, tisco and what are your views on mtnl particularly
Mr Ramesh Damani (Wed Sep 27 19100 6:5 IST)
anand - telco, tisco I would avoid. MTNL is at best a trading bet. Govt should privatise.
Guru (Wed Sep 27 19100 6:5 IST)
MR. Damani. what are your opinion on Goldman Sach Report in Eco Times today
Mr Ramesh Damani (Wed Sep 27 19100 6:6 IST)
Guru - I am as optimistic as they are. The language of our future may not be English or Hindi but Java and C++. Teach your kids that.
Nirmal (Wed Sep 27 19100 6:5 IST)
any particulars or few like Guj Amb, L&T, Acc , Madras Cmnt
Mr Ramesh Damani (Wed Sep 27 19100 6:7 IST)
Nirmal - the industry will move together. GACL, ACC, L & T among the liquid. India Cement and Madras among the rest.
bala (Wed Sep 27 19100 6:7 IST)
Do you expect NASDAQ go up from here
Mr Ramesh Damani (Wed Sep 27 19100 6:7 IST)
bala - can't say. What is your call?
richie (Wed Sep 27 19100 6:7 IST)
Mr. Damani it seems u already speak to ur kids in java?
Mr Ramesh Damani (Wed Sep 27 19100 6:8 IST)
richie - Ha Ha !!
shasteri (Wed Sep 27 19100 6:7 IST)
what would be the market sentiment for this.in which sector should we purchase pl provide me some tips,sir.
Mr Ramesh Damani (Wed Sep 27 19100 6:8 IST)
shasteri- tech, power, telecom and entertainment
Nirmal (Wed Sep 27 19100 6:8 IST)
What do u think about the future of ICE stocks
Mr Ramesh Damani (Wed Sep 27 19100 6:10 IST)
Nirmal - i continue to be bullish on the sector. It may be harder to make money though.
Guru (Wed Sep 27 19100 6:11 IST)
Mastek has been awarded CMM 5 Level. Last time Mr. Desai had given a warning for reduction in profit margin and came out with a good performance. Do you expect them to do so this time also?
Mr Ramesh Damani (Wed Sep 27 19100 6:12 IST)
Guru - I am hearing good things form Mastek.
bala (Wed Sep 27 19100 6:10 IST)
Can you suggest a good scrip for tomorrow
Mr Ramesh Damani (Wed Sep 27 19100 6:12 IST)
bala - can't recommend hot scrips on a chat show - can I?
george (Wed Sep 27 19100 6:12 IST)
Actually I am an accounts professional (ICWA) and I am very interested in the subject. I am also a natural analyst. Tell me sir how can I improve my ability. I like to be in this profession. How should I plan my future
Mr Ramesh Damani (Wed Sep 27 19100 6:14 IST)
george - read a lot 2) Think for yourself 3) Conviction
bala (Wed Sep 27 19100 6:12 IST)
Do you expect a rally before Diwali
Mr Ramesh Damani (Wed Sep 27 19100 6:14 IST)
bala - yes I am. We could rally to 4500
basavaraj (Wed Sep 27 19100 6:16 IST)
I AM TOTALLY NEW TO STOCK MARKET. I AM STUDYING IN 1 SEM OF MBA AND I HAVE COLLECTED LITTLE MONEY AROUND Rs.4000 WHICH I AM NOT INTERESTED IN DEPOSITING IN BANK. WOULD U PLEASE GIVE ME TIPS REGARDING INVESTING IN STOCK MKT AND I AM INTERESTED IN SHORT TERM RETURNS REGARDLESS OF RISK.
Mr Ramesh Damani (Wed Sep 27 19100 6:16 IST)
basvaraj - unfortunately that is not the purpose of this chat show. Sorry.
Guru (Wed Sep 27 19100 6:18 IST)
Mr. Damani, do we require some professional qualification for become a research analyst. I am a CA.
Mr Ramesh Damani (Wed Sep 27 19100 6:19 IST)
Guru - having a CA helps. Read Balance Sheets
anand ved (Wed Sep 27 19100 6:18 IST)
what are your views on hcl tech and tv18
Mr Ramesh Damani (Wed Sep 27 19100 6:20 IST)
anand ved- i don't own these stocks.
bala (Wed Sep 27 19100 6:20 IST)
Is high outstanding of over 3000 crores a cause for concern
Mr Ramesh Damani (Wed Sep 27 19100 6:21 IST)
bala - market seems to worry about it so we must follow it.
Guru (Wed Sep 27 19100 6:21 IST)
But I have just changed my line to Software in Hyd. in ERP (3 months) I used to stay in Mumbai. But still I would love to become an analyst. Would analysing BS be enough.
Mr Ramesh Damani (Wed Sep 27 19100 6:22 IST)
guru - it is only a starting point. Read beyond the numbers. You must have a vision.
anand ved (Wed Sep 27 19100 6:22 IST)
what price do you expect mtnl to be in medium term
Mr Ramesh Damani (Wed Sep 27 19100 6:23 IST)
anand - this is a tough stock to crack.
Venkataramani (Wed Sep 27 19100 6:23 IST)
can you tell me whether the market will react to the rolling settlement
Mr Ramesh Damani (Wed Sep 27 19100 6:24 IST)
Venkat - It will be bad. I am not looking forward to it.
Mr Ramesh Damani (Wed Sep 27 19100 6:25 IST)
thanks for joining in. have a prosperous week. Goodbye
Money
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