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January 30, 2001 Stock Talk

'The country seems to recover'

Ramesh S Damani explains the rise in the stock markets after the earthquake as a continuation of a secular uptrend and their recovery in the wake of disasters. Transcript

Ramesh S. Damani : Hello Everyone. Thanks for joining in. Let's start


viren : Good afternoon Mr Damani. Why is it there no impact of the earthquake on the market?
Ramesh S. Damani : 1) Market was in a secular uptrend. 2) One or two disasters happen every year. Last year we had Kargil and elections. The country seems to recover

anilwawa : Good Afternoon Ramesh. I have always been curious, what is the relation between a company's nasdaq and indian price, for eg sify
Ramesh S. Damani : Sify does not trade in India. Satyam Does. INFY trades at both places and enjoys a huge premium. ADR's though are known to trade at a huge discount also. Theoretically, they should trade at the same prices.

james : Hi there Damani! Businessworld has some disquietening reports on HLL. Is HLL in deep trouble? Are the shares worth picking up?
Ramesh S. Damani : James - I have not read the report.But I was at Kumbh recently. Once GDP growth crosses 8% to 10% we are going to see a FMCG Boom

SARAVANAN : Dear Ramesh, Inspite of strong market Sterlite Optical Tech failed to perform any specific reason
Ramesh S. Damani : The Telecom/Optical Sector has been selling off. Typically Sterlite does not enjoy a high PE.

asheesh : good afternoon mr Damani, at what level one should one enter and exit pentamedia graphics
Ramesh S. Damani : I can't provide stock specific info. Sorry

Saahil : Mr Damani Is it safer to stay out of the volatile market right now
Ramesh S. Damani : Markets rarely give you comfort. They always test you. When you are comfortable - beware. In bull markets you should have doubt. In bear markets faith.We tend to do the reverse.

skmfuse : dear rameshji,which is the best technology stock to invest in at the present time?
Ramesh S. Damani : Stick to the mainline stocks.The top three at present

confused : HI MR DAMANI. how do you explain the fact that reliance hits a new high when its plants are located in Gujarat?
Ramesh S. Damani : Rel Petro is across an inlet from Bhuj. Damage has been minimal mgmt claims.

anilwawa : What I meant was - If INFY's ADR value goes up by 2$ what are the chances that its Indian listing will also go up by near a 100 Rs. More importantly is the opening price of an issue in India determined by its corresponding nasdaq price. At what price for eg would rediff logically debut in India given its nasdaq quote?
Ramesh S. Damani : There are no guarantees in the stock market. I have seen every possible combination. However over a period of time the prices will move in tandem. This assumes a stable currency.

skmfuse : dear mr. damani,what are the prospects of nath seeds and dsq biotech?
Ramesh S. Damani : I am not following those stocks

farokh : the new Indian FIIs viz first global reliance cap anand rathi making impact on FII fig
Ramesh S. Damani : too early. They don't have much funds under mgmt. Not very relevant

hb : mr. damani,what is your opinion about ub at current price?
Ramesh S. Damani : I assume you mean United Breweries. I am bullish on it.

Vikash : GD A'noon. Mr. Ramesh, why is it that Satyam, inspite of its wonderful performance, is slow to climb but quick to fall ?
Ramesh S. Damani : Vikash - Problems with SIFY value and earnings (The dot-com) may account for the struggle

Supreet : What was the reason for markets to be up today
Ramesh S. Damani : Large FII buying and recovery in markets from a bear period

jignesh : what do u think of NIIT at 1540 ??
Ramesh S. Damani : I happen to like NIIT

amit : How do view PSU stocks especially in the wake of the cabinet meeting being postponed
Ramesh S. Damani : amit - I like them. They are just too cheap too ignore. Small downside and large upside

Kar : what r the medium term prospects of sensex immediately after the budget. considering the quake?
Ramesh S. Damani : market has discounted the quake.The Budget is going to make it volatile

Krishna : What about Mastek
Ramesh S. Damani : I am disappointed with Mgmt.

skmfuse : dear rameshji,you advised to stick to the 3 mainline technology stocks. what are they?
Ramesh S. Damani : The top three in my view are INFY,NIIT and WIPRO. At the second level Digital is looking interesting. However you have to be bullish to buy these

amit : Still bullish on HPCL sir
Ramesh S. Damani : I think better PSU's are available

muthu : Mr.Damani when most of the IT stock are performing well what is happening to this brat from Tata Group... I mean Tata Infotech Limited...highly esteem your opinion
Ramesh S. Damani : Worst may be over. They have come out with good results. It's good value

Kar : Do u think SAIL will climb moderately and steadily considering infra moves from its lows?
Ramesh S. Damani : SAIL is not my favourite PSU

farokh : HOW DOES PADMINI POLYMERS FARE ON UR LIST GOOD BAD OR UGLY
Ramesh S. Damani : The latter

Supreet : Where do u see Infy one month down the line?
Ramesh S. Damani : It's hard to call it like that

Vikash : Mr.Ramesh, but SIFY has been rated as the top 10 buys by even global rating agencies (continuing on my earlier question of Satyam's slow climb but quick fall)
Ramesh S. Damani : Sometimes I wonder about these rating agencies. It's hard to see them making money over the next year. On GAAP basis Satyam's results would look disappointing

Krishna : Are you bullish on ACC
Ramesh S. Damani : Stock looks good to me. Grasim and L&T in cement are good.

lazar : i want to know about arvind mills and dsq
Ramesh S. Damani : what about them?

Supreet : Gujarat holds a major chunk of stock traders. How much time u take for this to recover?
Ramesh S. Damani : It will recover quickly

skmfuse : dear rameshji,what are the prospects of hcl technologies and polaris software?are they underpriced at current levels?
Ramesh S. Damani : See earlier answers

anilwawa : Ramesh, do you feel online trading has a future in India.Is it true that more trading is done online than offline in the usa (online=internet/browser based)
Ramesh S. Damani : online trading accounts for about 20-25% of all trading I think. Not a majority

Vikash : So you would advice to stay clear of Satyam for now (or get out, if one already has invested) am i reading you right ?
Ramesh S. Damani : I have mentioned the stocks i like in infotech

SARAVANAN : Dear Ramesh, HCLTech Buy? Sell? watch? your opinion
Ramesh S. Damani : I would like to see 2-3Q of more results.It's an expensive stock

amitcs : sir comments on L&T please. do u view it as a Cement company or a diversifed coporate
Ramesh S. Damani : Diversified corporate. Some one must unlock value

rex : what would be the impact of the lowering of the US interest rates on the Indian stock market?
Ramesh S. Damani : Verry good. Falling interest rates are good for the market. Except in Japan where interest rates are at 1% and markets are down

Kishore : Rameshji, your valued opinion on Himachal futuristic pls
Ramesh S. Damani : I am wary of Momentum stocks. They are too volatile for investors.

manju : DO you not answer questions from women folk???
Ramesh S. Damani : Sorry Manju -please repeat the Question

yogesh : Mr ramesh, Please comment on my question about TATA POWER ? Whether to buy at this level ?
Ramesh S. Damani : I like Tata Power. If power rates are deregulated it would be very good.

shyam : hi rameshbhai, tell us what is happening at the silverline counter
Ramesh S. Damani : large volumes. Technical bounce back.

manju : Whats your opinion on switching from satyam to digital?
Ramesh S. Damani : Its hard to advise on switching. I was impressed with Digitals results.

SARAVANAN : Dear Ramesh, What are your expectation on fed rate cut will it be 50bps or 25bps
Ramesh S. Damani : 25 bps

shyam : sir will u agree that the sensex will cross 4600 before the budget?
Ramesh S. Damani : It is a possibility

lazar : sorry , i would like to know whether dsq and arvind mills are bullish interms of price potential in next 2 months
Ramesh S. Damani : I am not bullish on those stocks

musa : Rameshji, please answer, Is sonata software a good buy???
Ramesh S. Damani : Stick to the leaders is my view

manju : Is the bull run in line with the FII inflows? Dont you think we should have been at a higher level with 4000 crores of FII buying in Jan?
Ramesh S. Damani : 4000 crores. Where did you get that number

rockbohra : sir is there or not some where answer please
Ramesh S. Damani : Hi rock

Supreet : SIRJI WHAT TO BUY AS AN INVESTOR??????
Ramesh S. Damani : Tech, PSU and a litle cement

Vikram : I want to know the future of Rolta Sir?
Ramesh S. Damani : There are better bets

Kishore : Rameshji,Do you forsee L&T reach 350/- levels in about 6 months
Ramesh S. Damani : Could happen if they divest cement

SARAVANAN : If its going to be 25bps nasdaq might react negatively what do you thing
Ramesh S. Damani : Could be. market is hoping for a 50

deepak : Mr.Damani u have missed my questionWhat are your views on Global tele-Systems shares? keep or sell
Ramesh S. Damani :  I have not been a fan of GLOBAL

rajesh : what is prospect of reliance at this levels?
Ramesh S. Damani : Looks impressive. Let's see the results tomorrow. Mkt needs to understand REL PSU strategy

Swami : Please tell me about ITC Bhadra & Indo Gulf, Whether I can buy now
Ramesh S. Damani : Both cos are doing well I believe. I prefer tech, cement and PSU's though

KETAN : PLEASE ADVICE ON CENTURION BANK AND BANK OF PUNJAB
Ramesh S. Damani : They look like low risk plays to me

mukeshmundra : ramesh what do u think about uti bank ? at this level will it be a good buy?
Ramesh S. Damani : Looks okay to me

KETAN : Mahindra & Mahindra Ltd has reported a net profit of Rs 438.08 million in the quarter ended December 31, 2000 as compared to Rs 777.65 million in the quarter ended December 31,99. Net Sales for the quarter ended December 31, 2000 is at Rs 9048.75 million as compared to Rs 9834.67 million in the quarter ended December 31, 99. Other Income in DQ 2000 is at Rs 60.45 million as against Rs 92.30 million in DQ 99.SIRMahindra & Mahindra Ltd has reported a net profit of Rs 438.08 million in the quarter ended December 31, 2000 as compared to Rs 777.65 million in the quarter ended December 31,99. Net Sales for the quarter ended December 31, 2000 is at Rs 9048.75 million as compared to Rs 9834.67 million in the quarter ended December 31, 99. Other Income in DQ 2000 is at Rs 60.45 million as against Rs 92.30 million in DQ 99.HOW DOES IT LOOK AT RS.163.00 IS IT A BUY?
Ramesh S. Damani : Thanks for the results. I will have to study it.

ashok : do u think the market will be able to sustain today's rally
Ramesh S. Damani : I am hopeful it will.

Supreet : SIR JI , TAKE CARE OF SMALL INVESTORS ALSO? WHAT TO BUY AS AN INVESTOR, PLEASE?
Ramesh S. Damani : look at low price PSU to start especially if they are going to get privatisesd

Arif : What do think of MTNL
Ramesh S. Damani : looks okay with VSNL

gogri : how about hdfc bank?
Ramesh S. Damani : excellent bet

sulochana : sulochana asks how many stocks are considered by the exchanges for calculating index
Ramesh S. Damani : 30 stocks in Sensex, 100 in National, 50 in Nifty

KETAN : I KEEP TRACK OF YOUR COMMENTS ON FINANCIAL CHANNELS AND FOUND IT LIKE A SURE BET. PLEASE GIVE SOME TIPS
Ramesh S. Damani : Ketan - thanks. See earlier answers.

prkash : i am prakash here may i know the sites where can i get more regarding the stocks and market
Ramesh S. Damani : indiainfoline.com, myiris.com. Thanks for joining in. See you next week. Bye

Join the Ramesh S Damani chat every Tuesday at 1600 IST.

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