'Markets may surprise on the upside'
Ramesh S Damani is bullish as global markets are in good shape. He expects some buying in commodity stocks too.
Mr Ramesh Damani (Wed Aug 30 19100 6:7 IST)
A 1000 apologies for the delay. Let's start.
Nitin Singh (Wed Aug 30 19100 5:43 IST)
Could u please explain what exactly is go go fund
Mr Ramesh Damani (Wed Aug 30 19100 6:9 IST)
Nitin - a go-go fund is where money chases hot or speculative favourite stocks. Since they are the favoured stocks, go-go funds pile on to them. Most famous eg was in th 70's in America. Eg of stocks considered go-go are HFCL, Global etc
vijay (Wed Aug 30 19100 5:58 IST)
what's your view on wipro?
Mr Ramesh Damani (Wed Aug 30 19100 6:10 IST)
vijay - wipro is running ahead of its ADR. It seems a bit streched to me.
rajaswi (Wed Aug 30 19100 6:9 IST)
good evening mr ramesh! i have 80,000 Rs in my kitty as my savings. can i invest in infosys stock at price around 7500 Rs for short to medium term?
Mr Ramesh Damani (Wed Aug 30 19100 6:11 IST)
rajaswi - sure buy infosys and keep it. 2Q results will be good. However the portfolio will be volatile.
vipin (Wed Aug 30 19100 5:59 IST)
what is your take on the sensex? where do you see the market closing this year?
Mr Ramesh Damani (Wed Aug 30 19100 6:12 IST)
vipin - I think the bottom of 3850 will hold. Hopefully, we will cross 5000 by the end of the year. Global equities look good to me.
Bhavesh (Wed Aug 30 19100 5:54 IST)
What are your views on "Gati Corporation". Your recommendation on this???
Mr Ramesh Damani (Wed Aug 30 19100 6:13 IST)
Bhavesh - Gati is a buy. It's a good pick at 220.
aman (Wed Aug 30 19100 6:13 IST)
what's your view on the pharma stocks and the second rung software stocks?
Mr Ramesh Damani (Wed Aug 30 19100 6:13 IST)
aman - in pharma I bought Abbott in second-rung software. I recently bought KPIT listed on the NSE around Rs 100
lavanya (Wed Aug 30 19100 6:13 IST)
i have some funds presently to spare - buy Hughes, NIIT, or VSNL? or any other than u might think is a good pick (for 3-6 months)
Mr Ramesh Damani (Wed Aug 30 19100 6:14 IST)
Lavanya - try hughes and NIIT. they are good buys.
sri (Wed Aug 30 19100 6:14 IST)
Hi Mr Damani, is it worth buying Infy at Rs 7800 levels with a plan to hold for 6 months ?
Mr Ramesh Damani (Wed Aug 30 19100 6:15 IST)
sri - yes i think so. The worst seems over for INFY at least for the next 3-6 months.
lavanya (Wed Aug 30 19100 6:17 IST)
i bought sun pharma at 420 - should i sell now or hold?
Mr Ramesh Damani (Wed Aug 30 19100 6:17 IST)
lavanya - sun is doing well. I would keep it.
rajaswi (Wed Aug 30 19100 6:17 IST)
it's great to see u giving valuable insights. i have chatted for the first time here it is wonderful ramesh. thank u
Mr Ramesh Damani (Wed Aug 30 19100 6:18 IST)
rajaswi - thanks for the kind words. Due tune in regularly.
prashant asawa (Wed Aug 30 19100 6:18 IST)
what do you think of icici
Mr Ramesh Damani (Wed Aug 30 19100 6:19 IST)
prashant - ICICI Bank looks good to me. Among the FI stocks ICICI is the best.
BIPIN (Wed Aug 30 19100 6:20 IST)
are you bearish or bullish on the markets?
Mr Ramesh Damani (Wed Aug 30 19100 6:21 IST)
Bipin - I am bullish at the current time. Global markets are in good shape. We may see some buying in commodity stocks.
BIPIN (Wed Aug 30 19100 6:20 IST)
whats' the story in KPIT?
Mr Ramesh Damani (Wed Aug 30 19100 6:22 IST)
Bipin - kpit is a Pune-based software co that got into a lot of trouble. They seem to be getting out of the woods now.
manu (Wed Aug 30 19100 6:21 IST)
don't you think that even the US the markets lack conviction at the higher levels and the climb in the DJIA is mainly on account of GE?
Mr Ramesh Damani (Wed Aug 30 19100 6:23 IST)
manu - FTSE, US, Hang Seng are just below 52-week highs. But. But. France, Switzerland, Australia, Nigeria, Canada are all at 52 weeks high. This cannot be viewed in isolation. Markets may surprise on the upside.
manu (Wed Aug 30 19100 6:23 IST)
What was the reason for the volatility seen today? Software hammered in the last hour of trade led by silverline. What's your take on silverline?
Mr Ramesh Damani (Wed Aug 30 19100 6:24 IST)
manu - silverline was a very poorly done ADR. I hope the merchant bankers feel bad about it. I am not crazy about it as you may guess.
BIPIN (Wed Aug 30 19100 6:22 IST)
which ones in commodities look attractive?
Mr Ramesh Damani (Wed Aug 30 19100 6:25 IST)
bipin - GE Shipping will benefit. So will ITC (old economy). Some dark horses could be Sesa Goa or the paper co's.
BIPIN (Wed Aug 30 19100 6:26 IST)
GE Shipping has already climbed significantly.. is there still scope for appreciation?
Mr Ramesh Damani (Wed Aug 30 19100 6:27 IST)
bipin - shipping rates are at 30 Year highs. Stock is still under-owned. Good trading stock.
BIPIN (Wed Aug 30 19100 6:28 IST)
what's the right price to get in?
Mr Ramesh Damani (Wed Aug 30 19100 6:28 IST)
Bipin - around current levels is okay. I think it will rally.
rajaswi (Wed Aug 30 19100 6:29 IST)
RAMESH, I HAVE 200 SHARES OF SRI ADHIKARI BROTHERS. WHAT DO U THINK OF THE FUTURE OF SCRIPT FROM RS 500?
Mr Ramesh Damani (Wed Aug 30 19100 6:30 IST)
rajaswi - i am bullish on the enterainment business particularly content. Keep it. Also look at Mukta Arts.
Mr Ramesh Damani (Wed Aug 30 19100 6:32 IST)
Thanks for joining in. See you next week. Have a prosperous week.
Money
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