[04:15:18 PM] => Good Evening!!!...
[04:15:51 PM] => Mr. Alok Churiwala will join us for the chat at 4:30 pm
[04:24:57 PM] => DISCLAIMER
[04:25:13 PM] => Mr. Alok Churiwala is the Director of Churiwala Securities Private Ltd. At the time of this conversation / chat, Mr. Churiwala may or may not have positions in the stocks mentioned below , although holdings may change at any time
[04:25:27 PM] => The views expressed by Mr. Alok Churiwala 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. Churiwala, 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.
[04:25:46 PM] => Lastly the views expressed by Mr. Churiwala 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.

[04:34:32 PM] => Mr. Alok Churiwala has joined us for the chat session

[04:34:46 PM] => Ananddbp: Is it time to buy Satyam Computers?
[04:35:03 PM] => AC: We generally do not recommend stock specific buy and sell in Fora like these. However, we do run an investment constancy and advisory service where answers to such specific queries can be obtained from our investment counselors.

[04:36:13 PM] => Sapna14: Having never invested in the stock market before, is it a good time for me to enter the market in the current scenario?
[04:36:49 PM] => AC:Yes, definitely! Times like these do not come very often in the life of the capital markets. The last time a major structural change of this nature may have been affected in the US would probably be decades back. This is definitely a good time for first timers to test waters as the valuations are modest and there is no frenzy in the market.

[04:37:26 PM] => Arsheth: We want to secure intranet tunnel by SSL upto the local server inhouse . can you suggest some product for the same?
[04:37:48 PM] => AC:You are asking the wrong person . This is not a stock exchange related queston.!

[04:38:21 PM] => Sanjay.agarwal: Your views on the current market rally. Is it healthy & sustainable?

[04:53:19 PM] => Myiris : We apologize for the delay but the full net connections in various parts of the city in Mumbai have gone down . We apologise for this delay and are working towards restoring the same
[04:53:45 PM] => we are really vey sorry about the delay in chat. We had lost our net connection.
[04:54:17 PM] => Myiris : We are back now

[04:55:13 PM] => It is my view, that any rally in the market is a healthy sign, however, the sustainability of this rally leaves a lot to be desired. This rally may not sustain for very long. Much would depend on the outcome over the weekend of the Musharraf-Vajpayee talks.

[04:56:01 PM] => Do you see a major force behind Infosys which is trading at 3900 around a P/E of 32 tofy 02 earnings with not good future growth outlook. What P/E would you give to Infosys at a higher & lower side. Is it time to buy, if yes what are most favoured sectors & stocks among them.
[04:57:34 PM] => Sectors that we would actively look at are, Pharma, Software, Cement, and Power. I would not like to answer Stock specific questions.

[04:58:40 PM] => sanjay aggarwal:Do you feel the market has bottomed out? What are the best stock in tech-sector to buy & for what targeted future rates?
[04:58:52 PM] => The market has not seemingly bottomed out yet, we may see turbulent times ahead for the market.

[04:59:56 PM] => what do you feel about fiis investment behaviour this calender year ,they have already bought more than 11,500 crs.worth stocks in net.never in past hey have total allocation more than that .will they continue to be buyer (have they allocated more money to india this time ) or they are waiting to become seller & they got caught waiting right rate for exit in this gloomy economic situation
[05:02:01 PM] => Amit: Sir, how do you see the market evolving in the coming three months?
[05:02:49 PM] => The next three months, we don't see the markets going anywhere. They will be pretty much range bound on the upper side. OI do not expect the Sensex to go beyond 3800 and 3000 levels on the lower side.

[05:03:14 PM] => sanjay aggarwal:Is option not an another name for the badla (though with hedged risk)? Can I still speculate and make money?
[05:05:45 PM] => AC:Option is definitely not Badla. Badla as a product that not only allowed hedging in a very limited way but allowed margin trading and acted as a deferral product at the same time. This unique animal called badla, could also be used as an effective instrument for financing activity. In options too, you can indefinitely speculate but the making money part would still essentially depend on the trading strategy that you employ and lady luck being on our side.

[05:09:18 PM] => Suresh: The second rung tech sector scrips have not seen any action. Do you see any buying spree coming into them?
[05:10:09 PM] => AC:There could be some buying emerging in the 3rd and 4th rung tech scrips that are a part of B-Group. However, I do not see any major action in second rung tech stick after their stocks have become a part of rolling settlement.

[05:10:22 PM] => Priyas: Cement sector scrips are still active despite the monsoon season. Can I buy at this time or should I wait for prices to fall?
[05:10:56 PM] => AC:Generally, once the monsoon hits, the cement sector starts weakening, but the fact that this is not yet happening shows that there is sustained demand on the counters which may also mean that the sector may be poised for a take off.

[05:11:40 PM] => Kiran: Fiscal numbers are and will keep FII's at bay - where then do you expect to see our markets - would not it be best to be a fence sitter
[05:12:30 PM] => ACFiscal numbers not with standing, the figures show that the FIIs are still active buyers. Sitting on the fence at this time would mean that investors would once again miss the bus.

[05:12:42 PM] => Khilwa: Fundamentals at NASDAQ turned for the better, what will be the impact on domestic tech scrips?
[05:13:30 PM] => AC:: With fundamentals on NASDAQ turning better it should definitely improve the sentiments towards local tech stocks. However, how much of this improved sentiment will actually translate into positive price movement, I'm not too sure.

[05:14:57 PM] => Shara 54: Do you think market can still go down to 3100 or below in next few days.
[05:16:49 PM] => If there is a change in either political or social situation in the country from the current situation, there is still a very good chance that the indices could touch the aforementioned levels. Barring that, I don't think anything on the economic front remains to be discounted.

[05:17:04 PM] => Gyanshyam: You're views on the US-64 debacle - should the government give a bail out package - finally who is paying for this debacle - the honest tax Payer!! ?
[05:19:40 PM] => When there was a problem at the BSE it was blamed, that the organization was not entirely run by professional and member brokers were a part of management. But here in UTI, This was an organization that was entirely run by professional management and to what effect. So, therefore the problem lies somewhere else. It is not whether a professional body runs a show, the cancer of corruption has eaten into our system at all levels. The last time when there was a problem with the same fund a bailout package was announced and we have a similar situation occur, where three years later another bailout is asked for. In my view, this time around although the bailout may be given, (I'm only saying this to be popular among small investors) but all concerned must make it a point to ensure that whatever faults that come out as a result of the probe, must be addressed once and for all on war footing, else, such a situation would keep on occurring. The problem in US-64 that we currently face is a symptom and not a disease. What we need to cure, is not the symptom but eliminate the root of the problem. Who else but the honest tax payer!


[05:20:17 PM] => Haresh: Hi sir, can you kindly tell me the prospects of Raymond - is the stock a good long term bet?
[05:21:30 PM] => AC:I would not like to comment on specific stocks.

[05:21:42 PM] => Governdhan: Is the FM and respected SEBI ensuring the demise of the retail investor from the stock market - Has the MF lobby finally succeeded in ensuring that all routes of Investment into the stock markets go through them. - That is ensure that they experiment with our money.
[05:27:17 PM] => AC: At the current moment in time one would be extremely tempted to think so, but let's hope for everybody's sake that we are proved wrong.

[05:28:49 PM] => Kirit: Dear sir, can you tell me how has F &O, banning of badla and rolling settlement effected the brokers business and how - I keep reading recently of the number of brokers who are closing down.
[05:30:27 PM] => AC:It is been an extremely unfortunate situation created for the brokers. By banning badla, introducing rolling settlement and the F&O segment refusing to take off, the reality of life is volumes have disappeared, there is no liquidity in the markets, the depth has evaporated, and volatility has significantly increased. All this has led to a situation where the investor who has already lost a lot of money keeping away from the markets. Now you will appreciate the fact that with volumes having come down by 90%, most of the brokers are not even breaking even. Now how long they would continue in a situation like this is only a question that time will answer although the number reported in a section of the press may not necessarily be accurate but a larger number is most definitely contemplating shutting shop.

[05:31:06 PM] => Vineet: Your views on tata Chemicals - how is the soda ash industry doing - would you support a plan to hive off the fertilizer SBU of the company into a seperate firm since it is a drain on the Companies resources should be hived of to Rallis I say
[05:31:40 PM] => Mr. Alok Churiwala will answer the last few questions...

[05:32:15 PM] => Tyagi: How does the petroleum sector look to you
[05:33:38 PM] => The petroleum sector looks extremely attractive and has been constantly generating cash for the government. If I am not mistaken there is already a schedule that has been drawn up and announced for free pricing and this is an eventuality that should to happen

[05:33:56 PM] => Harshad: Should Yaswant Sinha step down - all his policies are all talk and bull - none of them are actionable policies - where are the projects to bring out our economy from recession - it will take off only on election year!!! Kindly comment
[05:34:10 PM] => AC:I wish I could!

[05:34:51 PM] => Rasheesh: Your comments on my portfolio (by the way do you do PMS) - Cipla, BSES, Bhel, Zee, Reliance - Should I hold on to these stocks exit part quantities or add more. Any other stocks I should look at - I have about Rs. 20 lacs to invest

[05:35:44 PM] => AC:In a market like this if that is the money you still retain with you. Please get in touch me I would like to make you my client (Ha Ha!). The stocks per se in your portfolios look OK, but it also depends on what price your initial investment in these stock are. You could maybe look at the Cement sector, however this only after a prolonged iteration that we could help you design and develop an optimal portfolio. We do not manage portfolio of clients directly, however we do assist them in doing so themselves by offering financial advisory and consultancy services.

[05:35:58 PM] => Sunita_rao: Do you expect strictures passed by other countries on the ban of tobacco and providing various compensation to smokers to be implemented in India in the near future - How would you rate ITC given this background from an investment perspective?
[05:37:13 PM] => AC:The tobacco lobby is extremely strong the world over and more so in a large market like India. It would take extremely strong political will actually implement something like this. In my view the likelihood of this happening in the near future is very remote.

[05:38:53 PM] => Jajoo: Dear Alok, how do you rate Cadbury's as an investment opportunity. Given that the government has lifted quantitative restrictions on import of chocolates and other confectionery items. Do you see Cadbury bringing various brands in its international armory like Flake, Time Out, Wispa, Caramel, Fuse and Cherry Ripe into India? Your comments on its latest financial results too
[05:39:11 PM] => AC:Cadbury has a very strong brand in our country. Having said that, the Indian market is extremely price sensitive. Even today there are a lot of imported chocolates that occupy shelf space n super markets and are relatively cheaper which is the reason why they sell. But the results are very heartening, at this stage however one has to see that this positive trend continues well into the year because the QRs have just been relaxed at the end of march.

[05:41:01 PM] => Hemang 69: Why did the Sensex fall from 3510 to 3440 in the last stages of this smart rally? Any news that I am not aware of - has Yaswant Sinha resigned or has another brethren of yours defaulted or got strictures passed against him by SEBI.
[05:41:31 PM] => AC:Nothing of what you have mentioned happened. The two basic reasons why the market fell today were; There was no follow up buying happening at higher levels, which saw the steam run out of this rally. And the negative signals coming from Islamabad regarding recognizing the LOC are a cause for concern.

[05:41:48 PM] => Romand dsouza: What is the future of futures in Indian market?
[05:42:10 PM] => AC:We have no option for the future but to have a great future in futures.

[05:42:45 PM] => Gaurav:How safe is index futures & options for small investors.
[05:42:57 PM] => AC:It is extremely important to understand that these are purely speculative instruments and like any speculative instrument they are extremely risky, so an individual who is an investor should keep away.

[05:43:11 PM] => Sai: when the minimum contract value for index future or option is
[05:43:48 PM] => AC:These products, to my mind, are not designed to suit the needs of a small investor/speculator. However, for a small investor, he can buy even one share of Reliance Petro in the Demat form and enter the capital markets of this company for less than Rs. 100. The F&O market is a speculators market, it is a risky place, and definitely not a place for a small Investor to be.

[05:47:06 PM] => Rahul: Has the BSE lost its importance as a premier stock exchange because of the existence of the NSE
[05:47:20 PM] => AC:The BSE has lost a lot of the glory that was once associated with it, especially in the last three months. I would not say this has happened because of the existence of the NSE, but the fact remains that the BSE's loss has been NSE's gain

[05:47:30 PM] => Binoy: What is your view on the derivatives trading? Would this be a viable alternative?
[05:47:42 PM] => AC:At some point of time or the other most definitely yes, but the markets will take time to get used to these products and it will be a while before market warms up to them.

[05:47:51 PM] => Shankar iyer: I bought 200 shares of Silverline at 850- what do I do now?
[05:48:04 PM] => AC:I can only sympathies with you.

[05:48:22 PM] => Tarun: We would wish to know some stock specific information from you - after all you are in the business of buying and selling stocks
[05:48:32 PM] => AC:Sure, we are in the business of buying and selling stock and we are also in the business of financial advisory and constancy services. How can I give Stock specific information or advice (for free) when it is our only stock-in-trade.

[05:48:46 PM] => Sb: with settlement cycles across all exchanges same, do we need
[05:48:58 PM] => AC:Seemingly with uniform settlement cycles, the need for 2 exchanges may seem frivolous but the fact remains that if we are left with only one exchange once again you will see the ugly face of monopolistic brokers ruin the field day that the investors enjoyed.

[05:49:42 PM] => AC:Seemingly with uniform settlement cycles, the need for 2 exchanges may seem frivolous but the fact remains that if we are left with only one exchange once again you will see the ugly face of monopolistic brokers ruin the field day that the investors enjoyed.

[05:50:37 PM] => Anu: Sir, will Nasdaq's movements affect the Indian markets?
[05:51:10 PM] => AC:Really speaking, the NASDAQ has very little representation of Indian paper and hence its movement ought not to significantly impact our markets. However, a large mass of investors is following the NASDAQ cause a similar movement is reflected in local bourses.

[05:51:31 PM] => Harish: Do you think the US-64 scam will affect the markets further?
[05:52:01 PM] => AC: I think the worst is over. The safest way to double your money is to fold it and put it in your pocket!

[05:54:04 PM] => Myiris:Thankyou for participating in the chat Mr.Alok Churiwala. We thank you for your patience and time.

[05:55:51 PM] => Myiris: Thank you all for your participation. Do join us for yet another exciting chat on Monday, 16th July with Mr.Vineet Udheshie (VP & Portfolio Manager, Debt - Alliance capital Mutual Fund) at 4:30 pm...

[05:56:18 PM] => Myiris: have a good weekend friends...