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'The Sensex could test 4500'Ramesh S Damani says the market is in a secular uptrend and tells investors to keep an eye on January 30, when key decisions on PSU divestment are expected. SAMEER :Good afternoon Mr Damani. What do you think of Digital and VisualSoft? Ramesh S. Damani : Sameer - Results for both have been excellent. If the growth continues prices will head higher. alok : Dear Sir, Are we in a bull market? will it sustain? Ramesh S. Damani : Alok- market is in an uptrend. This may be the usual pre-budget rally. A key date is Jan 30 when PSU disinvestment is taken up. That may set the trend. cyrus : any stocks worth buying now? Ramesh S. Damani : cyrus - look at tech, cement, and some psu's akash : Hello Mr Damani, how long will the ICE meltdown continue for? Ramesh S. Damani : akash - they seem to be recovering. However in this round quality will be imp as will be earnings. jhon : Mr. Damani, what is your outlook on goldstone tech? Ramesh S. Damani : jhon - I do not follow that cyrus : sir any stocks in particular? Ramesh S. Damani : cyrus - sebi's new rules prohibit us from talking about stocks. Sorry vidya : are there any good media stocks that i can buy? Ramesh S. Damani : vidya- see earlier answer. I cannot recommend individual stocks.Sorry. jhon : I bought goldstone at 450 should i hold or book loss? Ramesh S. Damani : jhon - I don not follow it so no opinion. SAMEER : The FII buying has been good this month. will it continue? what stocks do you expect them to buy? Ramesh S. Damani : Sameer - mainly tech and fmcg. Like Infy and Lever. Some other like Reliance, VSNL and MTNL vidya : sir when did this change come? Ramesh S. Damani : vidya - it was in the press a few days back jhon : Sir what is your outlook for the sensex tomorrow? will tech. hold? Ramesh S. Damani : jhon - It should correct. We have had 8 days of rise. vidya : i had really looked forward to these chats. Ramesh S. Damani : vidya - me too. Let's wait a few weeks to see complete details abhi : what is happening in VSNL? It was up a lot today with huge volumes? Ramesh S. Damani : abhi - Jan 30. PSU disinvestment.VSNL is a good candidate for a strategic sale. Good Results also helped today. jhon : Sir,do you see any future for 2nd rung IT stocks? Ramesh S. Damani : jhon - look for exciting product not service co's vidya : we hope you will be able to share your insights with us after that! I am hoping for the best Ramesh S. Damani : vidya - I would love too. Thanks for your support. prashantprabhu : Do u have anything on Subex Systems?? Q3 Results is due. Ramesh S. Damani : prashantprabhu - No idea on Subex. What's your expectations. rohit : Hi Mr Damani. Missed you last week Ramesh S. Damani : rohit - sorry about that. I was stuck in Bangalore. pratiti : Hello Mr Damania , What will happen to infotech stocks, and the index will it cross 5000 ??? Ramesh S. Damani : pratiti - at this time 5000 looks tough. I would be happy to be at 4800 akash : What are your expectations from the Budget? Will corporate taxes come down? Ramesh S. Damani : akash - I am just praying for PSU Privatisation. I don't expect taxes to come down. rohit : the mood has improved a lot in 2001. are you bullish? can we expect a lot from the budget? Ramesh S. Damani : rohit - we are in a secular uptrend. market could test 4500. Shah : Mr. damani, ur take on CMC? Ramesh S. Damani : Shah - I like it especially if it will be privatised. Dig : Is there any value in PSU stocks like Bhel even without there being privatised Ramesh S. Damani : Dig - Yes there is. But in only a few. Look for ones with a good dividend. That will protect you. Shah : Mr. Damani ur take on Moser Baer and Fulford? Ramesh S. Damani : Shah - Moser is doing right things deepak : how is monsant? Ramesh S. Damani : Deepak - Monsanto results were excellent Piyush : no i think inflation is going to clear 8% mark Ramesh S. Damani : piyush - good chance especially if oil price firm up. jhon : NIIT Q1 net is up 61%, your take on this tomorrow? Ramesh S. Damani : jhon - NIIT results on the face look good. Jason : Mr. Damani, to what extent is Indian market linked / cohesive with International markets ? Ramesh S. Damani : Jason - we are linked to NASDAQ. Shah : Mr. damani, the likes of At& t is having a PE of 14-15 u think indian telcos can get better PE than that Ramesh S. Damani : Shah - Comporable Market Cap of Indian Telco's is very poor. Even Turkish Tele and China Mobile are more valuable. vilasdespande : Sir , What do u think about Wipro? Ramesh S. Damani : vilas - co is doing a lot of things right Shah : Mr. damani, u say v r linked to markets but u think the quality of companies barring few deserves such correlation Ramesh S. Damani : Shah - may be not. But markets are driven by sentiment in the short run. And in sentiment we are linked to NASDAQ KishoreW : Mr. Damani could you comment on Colgate as a medium term buy. Ramesh S. Damani : I like some FMCG stocks including Colgate Nikunj : I m Nikunj Here working at indiabulls.com Ramesh S. Damani : Hi Nikunj thanks for joining in Suresh : Infosys Technically work at low technology segment. I think it will effect the company in long run . Esop has lost the shine so there will be many people leaving infy . Do you think Infy has tough time ahead compared to Wipro. Ramesh S. Damani : Suresh - you may be right. I think the growth plans are too aggressive for the kind of business they do.They need to move into Data Mgmt perhaps. dev77 : is technical analysis reliable and if yes, to what extent? Ramesh S. Damani : Dev - yes for A group shares Shah : Mr. damani, Chinese TELCo's have income of more than USD 20 billion, while VSNL+DOT will be 3-4 billion only Ramesh S. Damani : Shah - agreed. BUt deregulation will open the market and volumes will explode. Can they take advantage of it. Suresh : What is your comment on Wipro-GE Controversy. Is it positive for Indian IT Ramesh S. Damani : Suresh - I think it shows the confidence they have. It is good and I am happy they are expecting to get paid properly. Sanjay : Sir, do you answer scrip specific question or not ? Ramesh S. Damani : No- I cant. New SEBI rules sunny : i had asked a question. remember Ramesh S. Damani : please repost Q Manoj : What's your opinion on Sterlite Optical Ramesh S. Damani : Earnings will be good at Sterlite Optical Sanjay : Sir, are you real ?? Ramesh S. Damani : I am a human being - i think anju : dear sir r u there???I want to buy few stocks??can u suggest??? Ramesh S. Damani : anju - can't recommend individual stocks currently Nikunj : hello what should i do Ramesh S. Damani : please repost Q Suresh : ya , Sir I strongly believe that the company has created a hype in everything it do . The only good think it has is the Campus . The company is media savvy . I know lot of people in infosys and who are not satisfied and about to leave . I think company will face real though time ahead , if it continue to work in low technology area . What you think Ramesh S. Damani : Suresh - Mgmt has delivered 28 Qtrs of Superior earnings. Lets give them some slack but be vigilant ramz : hello, mr damani, did u get my query or not>? Ramesh S. Damani : ramz - no please repost Sanjay : Sir, does SEBI bar you from advising public ? Ramesh S. Damani : yes unfortunately. New rules Shiva : What's your take on VSNL with its 8% upper circuit today, will it retreat or go up still further? Ramesh S. Damani : Shiva - On jan 30 if privatised it will go a lot higher. sanmen : whats ur take on the market..is it right to enter..if yes then any particular sector you would suggest!! Ramesh S. Damani : sanmen - cement, tech and PSU Manoj : Sir you can disclose your portfolio and then answer specific Qs (SEBI rules) Ramesh S. Damani : manoj - i am not to keen to annouce my portfolio to the world. Suresh : Sir , I am very bullish about Wipro . Their 4*4 vission says the their Software bussiness will be $4 billion by 2004 and they will have a team of 35000 enginner by 2004 . What do you say Ramesh S. Damani : Suresh - its an expensive stock. However its among the best we have Manoj : Sir Sensex closed above 200 DMA, what's your opinion ? Ramesh S. Damani : Manoj that could be the resistance for Senesex. It should close above that for 3 days. Sanjay : Sir, how can be less priviledged people (in the stock market) can get advise from you ? Ramesh S. Damani : log on to this chat show amit : what do you think about digital Ramesh S. Damani : amit - results were fabulous for digital ramz : dear mr damani, with the sebi coming in full force and stopping advises by experts like u, what will happen to all the business tv chat shows like cnbc, jain tv etc.- ramz Ramesh S. Damani : ramz - trouble. They rely on content from brokers and fund managers. I am sure they are worried. dharmesh : Good evening Ramesh! What is your analysis on the results of HCL Technologies Ramesh S. Damani : dharmesh - results were excellent. However I want to see 2-3 Q of good performance before we get too excited. stupid : sir can you tell me which are the biotech stocks traded on the bse Ramesh S. Damani : stupid - Panacea Biotech and to a degree Monsanto. (small degree). Dsq Biotech also though I don't know much about it. SS : Is this time for long term value investments or to trade? Ramesh S. Damani : SS - Value investing will be back in vogue sanjeev202 : Is today the beginning of a technical correction, when do you see the budget rally beginning? Ramesh S. Damani : It has begun. market will have resistance at 4500 and then 4800 Sanjay : Sir, suggest 2 scrips in tech sector for medium term gain of 500 percent Ramesh S. Damani : be realistic. If i could predict that correctly I would be on perma holiday in Bali or Hawaii. sanmen : Thanx Sir, you said cement, tech and PSU. Well PSU is risky given the fact its driven purely on the disinvestment thing, however would u single out a few stocks from the tech sector Ramesh S. Damani : look at the mainline tech stocks- the top three. Manoj : Sir, Do you believe in Benjamin Graham's theory of value investing Ramesh S. Damani : It's hard not too. However market favours different styles and valuation so in the short run you need to be flexible or you are going to miss some great ops. SM : is the dependence on the performance of the US tech sector for Indian tech stocks justified? Ramesh S. Damani : SM - yes. India is a tech destination. Nasdaq is the home of tech walnace : whats the matter Mr. ramesh u r not replying to any querries Ramesh S. Damani : Lots of good questions. Thanks everyone. I am trying to answer as many as I can. Please be patient. Rajujiwani : Sir, can you tell why Hero Honda in spite of giving good Q3 results going downwards Ramesh S. Damani : Honda has stared own company. Sector seems out of favour. udit : do u think that a recess has arrived in the tech sector or is there a bright future ahead still like last year in this quarter?? Ramesh S. Damani : our future is in tech. Trust me. Without tech India as a global player is finished. Take a look at Thailand. Index is at 10% of its peak value after currency has halved. stupid : Mr. Ramesh please throw some light on Orkay the Poor mans reliance once called Ramesh S. Damani : Story is over in Orkay. It's finished. ramz : let me rephrase my question. will the nyse gambit help mtnl to reach dizy heighs like infosys, wipro etc. Ramesh S. Damani : not unless it is privatised completely.Then maybe. Not just listing. SHYAM : please sir tell us what is happening at the digital counter from 453 level to 650 don't u think this scrip is being operated ? Ramesh S. Damani : the results were excellent. Its 40-50 times earnings but growing. mohan : When Alstom power will cross 800 like abb? Ramesh S. Damani : mhan - keep an eye on it. Its good value. Sanjay : Ramesh, your comments on Evening Bazar by OTCEI please... Ramesh S. Damani : Sanjay - it's too much. We need to get some sanity back. We can't trade 24 hours. vilasdespande : Sir , It seems SEBI wants broker houses to be run in many shifts Ramesh S. Damani : Seems like that. It will make us age quickly. Last 3 Q's Suresh : Wall Street predict Infosys growth to be 50% in 2002 .Do you agree Ramesh S. Damani : Suresh - that would be good. Some people believe that it can grow by 85%+ SHYAM : sir, when the rupee will be convertible fully. so we can trade on nasdaq directly. and what will be its impact on the indian economy? Ramesh S. Damani : I cant wait for it. Convertibility means responsibility. No more fiscal mess. It might still take 3-5 years though. stupid : Mr. Ramesh do you think Satyam can cross the 1000 barrier within six months no problem even wishful thinking will do please do throw some light Ramesh S. Damani : That would not be possible in the next 6 months. SIFY is dragging Satyam down SHYAM : sir, why volumes in the derivative market is not picking up? do u think that institution, mfs, and fiis should be allowed to trade in the derivative market? Ramesh S. Damani : yes they should. Retail interest must come in. It's not coming in due to high margins and no sub-broker concept vilasdespande : But my sincere advice to u is don't judge company especially IT from its employee comments they all think theirs is bad others are good Ramesh S. Damani : good advice vilas. Thanks everybody for joining in. See you next week.Thanks and bye. Join the Ramesh S Damani chat every Tuesday at 1600 IST. ALSO SEE:
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