'The market looks ready for a rally'
Ramesh S Damani says that the worst of the correction may be behind us now and expects the market to recover provided the NASDAQ remains firm. He explains 'trade-to-trade basis' and 'cross deals' and recommends many stocks.
shree (Wed Mar 29 19100 5:52 IST)
hello!!!
Mr Ramesh Damani (Wed Mar 29 19100 5:52 IST)
mani - mainly due to year end considerations. I think the market will see higher levels shortly.
Mr Ramesh Damani (Wed Mar 29 19100 5:53 IST)
hi shree shats your question
amar (Wed Mar 29 19100 5:54 IST)
but year end also means that fiis have to boost their NAVs. then why are they not supporting the market, sir?
mani (Wed Mar 29 19100 5:54 IST)
why is it that the software is not sustaining at higher levels? Seondly how relevant is NASDAQ movements to inian markets, NASDAQ also has biotech stocks in the index which are very limited in supply in india. not a single dedicated portal stock is listed in india which are there in the tech heavy NASDAQ what's ur opinion?
Nikhil (Wed Mar 29 19100 5:55 IST)
Mr Damani, have the IT stocks bottomed out? or will we have to wait further for a bounceback?
Sumeer (Wed Mar 29 19100 5:56 IST)
Mr Damani, Why is DSQ falling down so much inspite of so much good news in it. What would you advise on this stock?
zulu (Wed Mar 29 19100 5:56 IST)
what's happening in the cyclicals are they not in the reckoning at all?
Mr Ramesh Damani (Wed Mar 29 19100 5:56 IST)
Nikhil - I think we should see sunny days ahead for IT stocks. A rally should begin soon
Yezdi (Wed Mar 29 19100 5:57 IST)
Is this the right time for entry into FMCG stocks?
Mahesh (Wed Mar 29 19100 5:57 IST)
hello Mr. Ramesh, do you think that the software stocks should move up after the correction or is this their real valuation
alokverma (Wed Mar 29 19100 5:57 IST)
what is your short term target for the sensex?
Nikhil (Wed Mar 29 19100 5:57 IST)
Mr Damani, have the IT stocks bottomed out? or will we have to wait further for a bounceback?
Mr Ramesh Damani (Wed Mar 29 19100 5:58 IST)
Mani - watching NASDAQ is faddish it is just a shorthand for tech stocks euphoria worldwide. Also briefly Cisco became the most valuable listed co in the world. WOW
Sumeer (Wed Mar 29 19100 5:58 IST)
Mr Damani, Regarding MTNL and the High court's decision to order it to pay 200 cr taxes , do you still advise a hold till the NYSE listing ?
zulu (Wed Mar 29 19100 5:59 IST)
last couple of years we saw in April and May the markets witnessing a fall and then rallying from those levels? will history repeat this time too?
Mr Ramesh Damani (Wed Mar 29 19100 5:59 IST)
zulu - some cyclicals are moving like Bajaj Auto etc. I think good cyclicals in cement etc will attract value based buying,
deepak (Wed Mar 29 19100 5:59 IST)
what's happening in the cyclicals are they not in the reckoning at all?
Nikhil (Wed Mar 29 19100 6:0 IST)
what do u think about Indian bio-tech companies and the sector in general?
Mr Ramesh Damani (Wed Mar 29 19100 6:0 IST)
alok - my instinct tells me that over the summer and by the monsoons the index will test its old highs of 6000.
mani (Wed Mar 29 19100 6:0 IST)
in cyclicals which would be your best buy?
alokverma (Wed Mar 29 19100 6:1 IST)
what do u think of wipro after adr?
Mr Ramesh Damani (Wed Mar 29 19100 6:1 IST)
Mahesh - I think software will show some new highs. However leadership will start going towards the large cap. Mediocore co's may not p[erform.
Sumeer (Wed Mar 29 19100 6:2 IST)
Mr Damani, Regarding MTNL and the High court's decision to order it to pay 200 cr taxes , do you still advise a hold till the NYSE listing ?
deepak (Wed Mar 29 19100 6:2 IST)
what do u think about Indian dot com companies in general?
Mr Ramesh Damani (Wed Mar 29 19100 6:4 IST)
alok if wipro accquires and open itself could be a good bet. At current conditions seemed overpricesd when it was at 9500+
rushabh (Wed Mar 29 19100 6:5 IST)
what are you hot buys now?
Mr Ramesh Damani (Wed Mar 29 19100 6:5 IST)
Deepak - Its hard to find co's with a revenue mode. Look for dot.com co's that cant exist in the physical world. (eg Ebay). If they are unique to the internet they will survice
Mahesh (Wed Mar 29 19100 6:6 IST)
how does crisil look to you in medium to long term
mani (Wed Mar 29 19100 6:9 IST)
i read your last transcript in which you had stated about the bull run in NASDAQ which you expected to flow down into indian markets why then did u say that if u now say looking at NASDAQ is fadish?
Mahesh (Wed Mar 29 19100 6:9 IST)
doesn't crisil offer value at this price when probably it is the most respected company in its job today
Mr Ramesh Damani (Wed Mar 29 19100 6:10 IST)
mAHESH - crisil is good value at 400 but mgmt has not been able to deliver growth and lots of turnover among key people. If infrastructure spending goes up though they would benefit
janki (Wed Mar 29 19100 6:11 IST)
Thank you for Tasty Bite Mr Damani. How long should one hold it?
nikhilsh (Wed Mar 29 19100 6:11 IST)
why have companies in rolling settlement mode fared so badly? any logical reason?
Mr Ramesh Damani (Wed Mar 29 19100 6:12 IST)
mani - everyone seems to be doing it so it becomes faddish. After some time the two markets will be delinked. As an observation see Thailand - they have no tech sector and the index is stuck at 400 - (lifetime high 1450 or so)
Sumeer (Wed Mar 29 19100 6:13 IST)
Why is DSQ falling inspite of so much good news on it . What do you advise on it. Also, after todays high court decision on MTNL's arrears to the IT do you still advise a hold till NYSE listing ?
nikhilsh (Wed Mar 29 19100 6:13 IST)
does the 'bad mgmt' tag still hold true for penta companies?
mani (Wed Mar 29 19100 6:14 IST)
FIIs aer net buyers in the last three days and till date they would have brought in $1.1 billion in this calendar year why is it that most of the stocks have reacted from their highs and are currently facing downward pressure? Even domestic mutual funds are net buyers in this month? Can u throw some light on this?
Mr Ramesh Damani (Wed Mar 29 19100 6:16 IST)
nikhilsh - in rolling you cannot net your trade across days. You pay or deliver. This scares away the "day -trader" who likes to keep positions open for a week without any payment. SEBI will have to rethim the fast move to rolling. Volumes will tend to dry up in rolling.
Mr Ramesh Damani (Wed Mar 29 19100 6:17 IST)
janki - I am glad you bought Tasty Bite. I have personally bought to hold it but sometimes these microcaps can be tricky. If you are liable to loose patience book some profits.
mahesh purohit (Wed Mar 29 19100 6:18 IST)
hello,
janki (Wed Mar 29 19100 6:18 IST)
thanks
Mr Ramesh Damani (Wed Mar 29 19100 6:19 IST)
Summer - dsq is a speculator favourite and as such funda's dont count much. MTNL is dogged with bad luck. I am getting a bit weary of it.
alokverma (Wed Mar 29 19100 6:20 IST)
what do u think of wipro after adr?
Mr Ramesh Damani (Wed Mar 29 19100 6:20 IST)
nikhlish - Penta Mgmt is not in the category of say Aziz Premji but they are getting better.
Keshav (Wed Mar 29 19100 6:20 IST)
what is your view on Sterlite ? It was on the lower circuit today at 799 on the BSE. It has come of a high of 1100+ and corrected significantly. The restructuring meeting is scheduled for 4th April
Mr Ramesh Damani (Wed Mar 29 19100 6:20 IST)
hi mahesh purohit - whats up
Mr Ramesh Damani (Wed Mar 29 19100 6:21 IST)
keshav - Sterlite looks good. The optic fibre business is moving. I think co should announce good results.
Mr Ramesh Damani (Wed Mar 29 19100 6:23 IST)
any last questions folks we are almost out of time
winner (Wed Mar 29 19100 6:24 IST)
which would be your best bet right now?
tarun (Wed Mar 29 19100 6:24 IST)
hi mr damani i just read on rediff corporate news that usha beltorn will transfer its IT division to another company. since i have heard you recommend that stock before, what is a good price to buy it?
nikhilsh (Wed Mar 29 19100 6:24 IST)
what do u think about the bio-tech sector? do indian companies hold promise? or r they getting high valuations just becuz of 'new tech sector' tag?
tarun (Wed Mar 29 19100 6:25 IST)
hi mr damani i just read on rediff corporate news that usha beltorn will transfer its IT division to another company. since i have heard you recommend that stock before, what is a good price to buy it?
nikhilsh (Wed Mar 29 19100 6:25 IST)
Mr Damani, thank you for ur time. ( hi mahesh ;) )
mahesh purohit (Wed Mar 29 19100 6:25 IST)
u have criticized the slow movement in privatisation or disinvestment. when will it really start moving
Mr Ramesh Damani (Wed Mar 29 19100 6:25 IST)
nikhlish - biotech has a lot of promise. However we need to find the Narayan Murthy of the bio-tech world. Ford est the auto industry in Detroit, Morita of SONY electronics. Biotech needs a visionary.
Mr Ramesh Damani (Wed Mar 29 19100 6:27 IST)
mahesh - Iran which is 20 years behind privatised its auto co. Govt in India just does not move. It is extremely sorry
Mr Ramesh Damani (Wed Mar 29 19100 6:28 IST)
Usha beltron has a 42% stake in Usha Comm. Mgmt may spin of those shares to Indian shareholders and list Usha Comm in NaSDAQ. IF they did that it would be good. They are going to announce details of the restructuring soon.
mahesh purohit (Wed Mar 29 19100 6:28 IST)
one of my uncles wanted to know how do you find SQL software
Mr Ramesh Damani (Wed Mar 29 19100 6:29 IST)
Last question
Keshav (Wed Mar 29 19100 6:29 IST)
what is your view on HCL Info ? I guess the stock is moving out the hands of the weaker players and accumulation is going on. Do U think it is poised for a big move upwards in the short term ?
Mr Ramesh Damani (Wed Mar 29 19100 6:29 IST)
Mahesh have nit been following Sql. Thanks guys and lets chat next Wednesday.
nikhilsh (Wed Mar 29 19100 6:32 IST)
last question - could this be extended to one hour next week!!??
ravindra (Wed Mar 29 19100 6:35 IST)
what do you think on satyam?
bipin (Wed Mar 29 19100 7:4 IST)
Inspite of giving superb result framatome connetors is not moving up.What is the reason?
arpee (Wed Mar 29 19100 7:5 IST)
DSQ is coming down sharply? Why? Is it a good buy at these prices
shriki (Wed Mar 29 19100 7:21 IST)
hi
shriki (Wed Mar 29 19100 7:22 IST)
can i buy advent computers
brahul (Wed Mar 29 19100 7:27 IST)
rel cap is taking over rolta net!!!! is this true?
brahul (Wed Mar 29 19100 7:29 IST)
icici--is this script worth buying??
vboorugu (Wed Mar 29 19100 7:39 IST)
dsq is coming down sharply?why?IS it good buy at these price.
Puneet (Wed Mar 29 19100 7:44 IST)
What is happening to Thermax?It was quoted around 300/- sometime back and now is slumping?
vboorugu (Wed Mar 29 19100 7:44 IST)
can we buy divya jyothi industries?it is in B1 group
Puneet (Wed Mar 29 19100 7:45 IST)
Why has'nt IDBI Bank scrip kept pace with it's rival ICICI?
Puneet (Wed Mar 29 19100 7:47 IST)
What is the future of the power generation equipment manufacturing companies?
sucharitha (Wed Mar 29 19100 8:9 IST)
What is the forecast in the near future for zee tele,punjab communications ,alok textiles,dsq software,global tele,orchid chemicals,wipro,rolta,reliance capital
sucharitha (Wed Mar 29 19100 8:11 IST)
what is the peak for wipro this week and will it decrease after it reaches the peak immediately
sujay (Wed Mar 29 19100 8:55 IST)
what about rolta in the comming days??
mohd (Wed Mar 29 19100 9:24 IST)
mr. darmani, i reside in riyadh, saudi arabia and would like to open an account in the Mumbai Stock Exchange to trade through the Internet. I currently trade on the NYSE using RediPlus. Can u please guide me on this...Thanks
ajay arora (Wed Mar 29 19100 13:22 IST)
HOW DOES PENTAMEDIA & GLOBALTELE SYSTEMS LOOKS AT THESE LEVELS FOR SHORT TERM INVESTMENT
Sangram Dange (Wed Mar 29 19100 18:9 IST)
Is it wise to buy a stock in portions, when the stock is rising gradually? Also how do you see Indian IT stocks faring over the next few years?
shankar (Wed Mar 29 19100 21:23 IST)
what stocks do you recommend me to invest for a short term
shankar (Wed Mar 29 19100 21:30 IST)
what stocks do you recommend me to invest for a short term
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'The market looks ready for a rally'
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