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| Transcript of Chat with Ms. Chandan Desai,Head-Equity,JM Mutual Fund - 28th June 2002 |
[04:34:16 PM] => Myiris: Welcome to the live chat session.
[04:34:58 PM] => Myiris: Our guest today is Ms. Chandan Desai, Head-Equity, JM Mutual Fund.
[04:35:12 PM] => Ms. Chandan Desai is Head-Equity, JM Mutual Fund. At the time of this conversation / chat, Ms. Desai may or may not have positions in the stocks mentioned below, although holdings may change at any time. The views expressed by Ms. Desai 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. Ms. Desai, 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.
[04:35:26 PM] => 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.
[04:35:39 PM] => Lastly the views expressed by Ms. Desai 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.
[04:35:50 PM] => Myiris: Welcome to the chat session, Ms. Desai.
[04:36:07 PM] => Naveenbatra: What do you perceive the returns of JM Equity to be for 2002?
[04:36:45 PM] => CD : JM Equity Fund is a moderate risk player which follows a " Best of Breed " strategy. As a policy, we invest in frontline stocks of established managements which carry moderate risk return profile. Thus, overall our stocks have potential of 25-30% return and the fund returns will follow the same pattern.
[04:37:19 PM] => mgsheikh911: How you rate low profile company RAIN CALC where FII has about 16 per cent exposure?
[04:39:08 PM] => CD : Though main product of Rain Calcing always had good potential, the management has not been able to capitalise on it. The company had faced time and cost overrun in installation of its project and the same does not speak well of the management. As we give a very high weightage to management quality, we will not give high rating to this company inspite of product potential.
[04:39:54 PM] => Haridascn: Why there is a upward movement in Crisil stock?
[04:41:10 PM] => CD : The upward movement of CRISIL in the recent past was mainly based on stake increase by S&P. Though, CRISIL is a well managed premier rating agency, the run-up was too sharp and hence, currently the stock is witnessing correction.
[04:42:41 PM] => MP: Can you suggest any good PSU stocks?
[04:45:03 PM] => CD : Though as per SEBI guideline, we cannot recommend any particular stock, the PSU story has a long way to go and one can surely look at the announced disinvestment candidates.
[04:47:57 PM] => CD : Though as per SEBI guideline, we cannot recommend any particular stock, the PSU story has a long way to go and one can surely look at the announced disinvestment candidates.
[04:48:21 PM] => Prashant: When will equity funds start giving good returns?
[04:50:05 PM] => CD : I think we are in the last phase of sideways market scenario and in another 2-3 months, we should see beginning of a bull phase. Even today most of the equity funds are outperforming the benchmark indices and one can expect much better performance from them when the market moves in upward direction.
[04:51:26 PM] => Swati: What do you think for the market in a one-month horizon?
[04:52:52 PM] => CD : In the short term the market may move in a narrow range 200 points as though fundamentals are falling in place, it will take some more time for retail confidence level to go up.
[04:55:41 PM] => S_nair: What are the prospects of tech companies for Q1FY03?
[04:58:07 PM] => CD : The tech results for 1QFY03 may not be very exciting as business of tech companies was affected to some extent in the month of May-June on account of travel warnings by US companies.
[05:00:26 PM] => Bhavesh: Which IT scrips look good short-term?
[05:14:00 PM] => CD : We believe that with slowdown of US economy resulting into billing pressure, only reputed large IT companies can survive in the long run and one should invest in frontline IT stocks.
[05:14:18 PM] => ShenaiN: When do you see a reversal in the interest rate trend?
[05:15:03 PM] => CD : We are expecting a stable interest rate scenario in the short to medium term, but do not forsee a reversal in the interest rate trend.
[05:18:34 PM] => Reddy: Is JM planning any pension funds?
[05:22:09 PM] => CD : Currently there are no such plans.
[05:24:30 PM] => Ganesh: How do you rate banking scrips in the coming months?
[05:27:45 PM] => CD : We expect a lot of M & A activity in the banking sector in the near future which should lead to a sector re-rating. Many PSU banks are quoting at a low level and below their book value. We expect the scenario to change in some time.
[05:31:22 PM] => Myiris : We'll continue the chat in a short while..sorry for the delay
[05:58:27 PM] => Myiris: We shall continue with the chat now...sorry for the delay
[05:58:36 PM] => Ramraj: How do you see industrial growth in the coming quarter?
[06:00:26 PM] => There has been some kind of recovery in the manufacturing sector. The core sector posted a growth in April and May and we expect this to continue and ultimately trickle down to the manufacturing sector.
[06:02:26 PM] => Vivek_basu: Please give your outlook on auto, FMCG and pharma.
[06:02:49 PM] => CD : We expect pharma companies to perform well especially Indian ones which have a lot of news on the R&D front. FMCG, we do not expect a pick up in the next six months since income from the rural areas has not come in as expected. We expect auto to do well both commercial vehicles and two-wheelers.
[06:05:41 PM] => BL98: What is your outlook on Tisco?
[06:06:14 PM] => CD : Tisco is doing very well. It has been able to maintain a price hike of 15 per cent and has two more price hikes coming up in July and August. Its volume growth also has been phenomenal and we expect the company to post good results this year.
[06:06:57 PM] => Naren: Any good long-term bets in media?
[06:07:38 PM] => CD : Maybe Zee if it comes to Rs 100-110 and Balaji Tele since its fundamentals are strong and it continues to provide good content.
[06:08:10 PM] => Abhi: How do you perceive 26 per cent FDI in print?
[06:09:16 PM] => CD : It will not really impact listed companies, since control is to remain with Indians. It might, however, make sense for a new startup.
[06:10:16 PM] => Myiris: That is the end of the chat for the day.
[06:10:45 PM] => Myiris: We thank you all for logging on. Please bear with us for the delay during the chat.
[06:11:05 PM] => Myiris: We thank Ms Chandan Desai for her time and inputs.
[06:11:46 PM] => Myiris: Have a nice weekend. Bye.
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