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[04:25:29 PM]
=> Welcome to the Chat Session, Mr Ajay
Kejriwal will be joining us very shortly
[04:37:33 PM] => Myiris:
Mr Ajay Kejriwal is here and will be starting the session
in few minutes
[04:38:06 PM] => DISCLAIMER
[04:38:20 PM] => Mr.
Ajay Kejriwal is the Director of Jet Age Securities Private
Ltd. At the time of this conversation / chat, Mr. Kejriwal
may or may not have positions in the stocks mentioned below
, although holdings may change at any time.
[04:38:39 PM] => The
views expressed by Mr. Ajay Kejriwal is based upon information
that he considers reliable, but does not represent that it
is accurate or complete, and it should not be relied upon
as such. Mr. Kejriwal, his company and its affiliates, officers,
directors, partners, and employees may, from time to time,
have long or short positions in, buy or sell and deal as principal
in the securities, or derivatives thereof, of companies mentioned
herein and may take positions inconsistent with the views
expressed. None of the information contained herein constitutes,
or is intended to constitute a recommendation of any particular
security or trading strategy or a determination that any security
or trading strategy is suitable for any specific person. To
the extent any of the information contained herein may be
deemed to be investment advice, such information is impersonal
and not tailored to the investment needs of any specific person.
You should consult with and rely upon your own advisors whether
and how to use such information in making any investment decision.
[04:39:14 PM] => Lastly
the views expressed by Mr. Ajay Kejriwal have no bearing whatsoever
with that of IRIS Ltd. IRIS does not guarantee the accuracy,
adequacy or completeness of any information and is not responsible
for any errors or omissions or for the results obtained from
the use of such information. IRIS especially states that it
has no financial liability whatsoever to any user on account
of the use of information provided on its website www.myiris.com.
[04:45:42 PM] => Welcome to the
show Mr Kejriwal, shall we begin the session
[04:46:28 PM] => AK : yes, lets
begin
[04:46:53 PM] => KShah: What would
be likely impact of increased Govt. borrowing on capital market?
[04:48:21 PM] => AK:
This is likely to become a big issue in the coming months.
It definitely is a problem and its magnitude should be not
be underestimated. Our government is increasing its expenditure
every year but revenues are not increasing at a similar rate
resulting in increasing deficits and hence higher borrowings.
Interest rates have remained soft because there is no demand
for funds from the private sector and hence the government
is able to fund its borrowings at low rates. However, , interest
rates could shoot up in the event of a pickup in investment
demand from the private sector.
[04:49:12 PM] => Rajani: As of
today there is not much participation from the brokers and
day traders? This has affected the volumes? How fast will
the scenario improve or will we see again the high volumes
and market cap as before?
[04:50:29 PM] => AK:
We have seen tremendous erosion in wealth of the investors
(including brokers and day traders) over the last eighteen
months. Lower net-worth of the individuals have definitely
impacted their abilities to take risk in the market - hence
the lower volumes. However, I am hopeful that with improvement
in the general economic environment, volumes will also pickup.
[04:50:55 PM] => Jaan: What�s
your view on Dr Reddy�s Labs? Should one buy, hold or if already
holding book profits? Overall what growth rate you see in
Pharma sector this year?
[04:51:55 PM] => AK:
Great company, stock has run up sharply. Will wait for it
to come down a bit before getting in. Domestic formulations
is witnessing a slowdown currently, however some companies
will continue to outperform.
[04:52:47 PM] => Bimalgala: In
the coming months, do we see 2800 (Sensex) before any chance
of a recovery? Should I wait for those levels or start investing
now. Which stocks would you recommend?
[04:53:16 PM] => AK:
Guessing the sensex is a dangerous exercise. If you are a
serious investor, it is a god time to start investing in small
amounts now.
[04:54:13 PM] => Hiren: do you
think current rally would continue in the next week
[04:54:25 PM] => AK:
I am not a soothsayer
[04:54:53 PM] => Nehal: What�s
your view on the Cement sector for this year? Among ACC, GACL,
Grasim and Larsen, which one is the best bet and why?
[04:55:31 PM] => AK:
The cartel in cement appears to be holding for now. This is
crucial for the industry to make any meaningful money. Grasim
appears best bet among the cement stocks right now.
[04:56:35 PM] => Swatishah: Will
I get to see an index of 3080 again to do some value picking
and investing? If you do see a downswing do you expect this
level to hold or will you see this market go to 2800 levels?
[04:57:26 PM] => AK:
I am repeating myself.........for a serious investor this
is a good time to invest. Do not bother too much about 2800
or 3000.........do not try to catch the bottom......it is
difficult and you risk the chance of missing a good opportunity.
[04:58:22 PM] => Krans: Technology
stocks are gaining since last few days? What's your outlook
over the sector?
[04:59:25 PM] => AK:
Stocks of good companies like Wipro and Infosys will continue
to do well.
[05:02:57 PM] => Dollyparekh:
What do you mean by Value Investing? How do you do it? Is
it a self-exercise or you have to take advice of some expert
and then lose the value of your portfolio? All the leading
research firms have been proved wrong, as all gave a buy recommendations
in IT stocks at much higher level before a year?
[05:04:00 PM] => AK:
It is really very sad that investors have lost money on poor
research recommendations. Value investing could be done on
your own, but you would need to put in a lot of time and effort.
There is a lot of literature available in the market on this
subject if you are interested in pursuing it.
[05:05:18 PM] => Ashish_shirke:
As the UTI is facing redemption pressure, do wyou think there
would be heavy selling by the Fund?
[05:05:29 PM] => AK:
Any fund facing redemption pressure would have to liquidate
its assets to pay off unit holders.
[05:06:05 PM] => Vivo_66: I see
on the Elliot Charts that the Sensex will go to 1850 with
Infosys also below 2000. Assuming this happens, what will
you do and suggest ? Even though the sensex shows bullishness
right now
[05:06:45 PM] => AK:
I do not understand Elliot theory even though some of my good
friends swear by it. If what you say is right and infosys
comes to below 2000, I would buy it along with so many other
stocks that would be available then. Ha ha
[05:07:43 PM] => Parul: The NASDAQ
looks weak, the US Economy is not likely to see any revival
till late December 2001 - Jan 2002. Given this scenario will
we see a break away from being NASDAQ dependent?
[05:08:18 PM] => AK:
Like it or not, we are living in a US-centric world. It will
be difficult for us to be completely delinked form the US
markets.
[05:08:47 PM] => Bshah: What is
the prospect of Zee in the short term? Is Subhash Chandra
playing a proping up game to sell the stake to strategic partner
at high price? Your View on its latest results
[05:09:22 PM] => AK:
Good results performance in view of the competition.
[05:10:16 PM] => Mysty: Sir, where
do u see the markets going from here, considering the atmosphere
of suspicion surrounding the markets?
[05:10:39 PM] => AK:
I see markets moving sideways for sometime.
[05:11:07 PM] => Jnimish123: what
about investing in tech funds?
[05:11:28 PM] => AK:
Invest in the good quality fund managers.
[05:11:59 PM] => Mysty: do u expect
tougher norms for the markets in the coming months, keeping
in mind the recent spate of scams?
[05:12:23 PM] => AK:
The norms are already tough.........we need better implementation.
[05:12:41 PM] => Sk100: I bought
Dr Reddy\'s at 1200, should I book profit now. Or can I redeem
in phased manner if I hold 1000
[05:12:56 PM] => AK:
Hold
[05:13:13 PM] => Bren111: Is Polaris
capable of really transforming itself from a tier2 IT company
to tier1.This has been said by Arun Jain.What do you think
of this CO in the short and the long term
[05:13:26 PM] => AK:
Attractively priced.
[05:14:40 PM] => Sharad: if indices
touch record lows should I invest in index funds or in index
based derivatives?
[05:15:03 PM] => AK:
By investing in a fund you are taking a 100% position. Derivatives
will allow you to leverage your capital and magnify the result.
The call is on your appetite for risk.
[05:15:58 PM] => Sundancekid:
do u see a upsurge in TMT scrips in the coming months?
[05:16:25 PM] => AK:
I think TMT will continue to be very volatile. However, the
span of investor interest will narrow to few top rung companies
only.
[05:18:52 PM] => Myiris: Hold
on friends for a minute, Mr Kejriwal is on a call
[05:23:14 PM] => Roamin_12: Keeping
in mind the cyberspace fiasco, what do u suggest r the ways
to keep such \"fly by night operators\' at bay
[05:24:06 PM] => AK:
Difficult. Making the AMC�s and the fund manger accountable
to the investors could be one way of reducing these disasters.
[05:25:16 PM] => Bren111: I have
never had a question answered on the chats.If you can,please
refer to Polaris as an investment.
[05:25:54 PM] => AK:
Attractively priced.
[05:28:24 PM] => Bhaskaran: do
u think the fund managers were in collusion with the
[05:28:34 PM] => scamsters
in the past?
[05:30:26 PM] => AK:
Its not correct to paint everybody with the same brush. There
are some excellent fund managers out there. You will agree
with me that there are black sheep in every business, the
same holds true for fund managers also
[05:31:42 PM] => Harish : Pentamedia
Graphics, is it a good buy?
[05:32:05 PM] => AK:
Avoid this group like the plague
[05:32:55 PM] => Paragbhagat:
what is your view on global trust bank ?
[05:33:54 PM] => AK:
Avoid for now, there are better pvt sector banks available
for investment.
[05:35:46 PM] => Myiris: friends,
that was the last question Mr Kejriwal answered
[05:36:26 PM] => AK: Thank you
all the participants in the session and thanks to myiris.com
[05:37:12 PM] => Myiris: Thank
you Mr Kejriwal for sharing your views on the markets and
for such an informative session
[05:38:17 PM] => Myiris : Thank
you friends and do not forget to join us on Monday 6th August
2001 for another session with
[05:39:01 PM] => Mr U.R.Rao -
Fund Incharge - Canbank Mutual Fund
[05:39:29 PM] => Myiris: That's
all for the day & Bye for now
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