[04:06:57 PM] => Welcome to Chat Masala at myiris.com - : Mr Sanjay Dutt - Director Quantum Securities Pvt Ltd will be joining the Live Chat session soon
[04:21:49 PM] => DISCLAIMER
[04:22:40 PM] => Mr. Sanjay Dutt is a Director of a New Delhi based broking firm Quantum Securities Pvt. Ltd., having Memberships of NSE and BSE. At the time of this conversation / chat, Mr. Dutt may or may not have positions in the stocks mentioned below , although holdings may change at any time.
[04:23:34 PM] => The views expressed by Mr. Sanjay Dutt 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. Dutt, 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.
[04:23:51 PM] => Lastly the views expressed by Mr. Dutt 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.
[04:30:54 PM] => Welcome to the Live Chat Session Mr Sanjay Dutt
[04:32:08 PM] => Sanjay Dutt: At the outset, thanks myiris for this chat and three cheers for your team for creating and maintaining the best finance portal!!
[04:33:49 PM] => Is it a good time to enter markets today? How does one know what is a right time - when to buy & when to sell?
[04:35:41 PM] => Sanjay Dutt > FIIs Yes, I am of the opinion that this is a good time to invest but note �INVEST�, do so for a 12-18 months time frame. It is very difficult to time the market, however, check the company fundamentals and then invest. I personally prefer a bottom up approach i.e. look at individual stocks and not necessarily the market as a whole. There are always opportunities in bull and bear markets.
[04:36:21 PM] => Q: Do you think that there is a future to online trading in India. If yes what are your projections?
[04:37:09 PM] => Sanjay Dutt > Yes there is a bright future for online trading however it may take 1-2 years for decent volumes to happen. Projections is a big question mark, however once connectivity and security issue pertaining to banks, dps and at the broker end are smooth, I think 20 � 30 % volume will come from this channel.
[04:38:07 PM] => Q: The US Economy has sustained its pace only because of a buoyant Stock Market - your comments...
[04:38:52 PM] => Sanjay Dutt > oops!! I thought it should be the other way round? Ok jokes apart, I don�t agree with this, US economy in the last 8 years has had phenomenal productivity gains and in some quarters of 98-99 grown as much as emerging/developing economies!!
[04:39:45 PM] => Q: Please name the shares of lower value which I should buy and hold for future regular dividend income. Lower value means below face value.
[04:40:57 PM] => Sanjay Dutt > there are lots, but I don�t trust the ones below face val. However some names which are good (u have less chance of capital erosion) and giving decent yield � blue star, gnfc, gmdc, idbi, tour fin corp, nilkamal plast, birla cent finance, madura coats, hawkins, chambal fert etc.. in case you want you can check on myiris.com for high div yld stocks. U are welcome to send me an email I will find the list for u.
[04:41:29 PM] => Q: I am a short-term player, entered into share market very recently. Please advise me as to what scripts should I trade tomorrow, i.e. on 28th Morning
[04:43:42 PM] => Sanjay Dutt > I never recommend day trading or speculative stocks, I advise you to stay away from compulsive trading. However, if you want to buy to invest, sensex 3350-3450 is a good level to enter the market, which I think you will get today/soon.
[04:45:08 PM] => Q: What according to you should be the role of regulatory authority to prevent any more KP and Harshad effects in India?
[04:45:46 PM] => Sanjay Dutt > No interference only stringent laws, proactive management and surveillance and goes without saying stiff punishment/penalties for the guilty.
[04:46:32 PM] => Q: What is your opinion regarding Gillette India after the merger of Duracell and Wilkinson at the prevailing market price and what is your outlook for the current year
[04:46:51 PM] => Sanjay Dutt > The scrip will be a market performer nothing hot.
[04:47:15 PM] => Q: Do you see the current rally would gave us a bull phase and would continue further?
[04:47:56 PM] => Sanjay Dutt > Yes it should, however don�t think or expect a straight line up, it is going to be a very choppy and selective run for stocks. It is not a stock market but a market of stocks.
[04:48:59 PM] => Q: Do you think that the IT stocks are reasonably valued? Where do you see the technology stocks moving in near future?
[04:49:41 PM] => Sanjay Dutt > Looking at 12-18 months ahead, tech sector is very attractive, immediate future i.e. 3-6 months ahead, choppy. However, be selective on what you bet on.
[04:50:15 PM] => Q: What in your opinion is the difference between the three scams that we have had 1992, 1998 and 2001. How soon do you see a recovery if any both on the system and the markets?
[04:51:09 PM] => Sanjay Dutt > Personally I feel that 2001 is not a scan it is a limited (alleged) misuse of the system (banks) and maybe operator-promoter nexus. Markets needed this (sharp) correction as we have seen the world over. I am sure we will forget about this shortly and markets and money will flow on its own.
[04:51:30 PM] => Q: When is the MASTERSHARE-86 scheme ending? What was last 3 yr�s. div.
[04:52:46 PM] => Sanjay Dutt> Don�t have an answer offhand, you need to check the mf section on myiris or other sites. However, you are welcome to get in touch with me in case you can�t find the answer.
[04:53:16 PM] => Q: With the corporatisation of the Exchanges and Broking firms - are we going to see a lot of suits for bankruptcy
[04:54:25 PM] => Sanjay Dutt > No way, things would be much better and markets safer and probably a �fair battle ground�.
[04:54:52 PM] => Q: Has the ban on short sales made life more miserable - your comments. Can SEBI be sued on that issue
[04:56:14 PM] => Sanjay Dutt > Personally I am against intervention of any form in a fair and free market after rules and regulations are in place. However, I think SEBI was privy to information/had access to data so it took the correct decision. I am not a legal expert to comment on the litigation part of the issue.
[04:56:44 PM] => Q: Should the BSE and the NSE raise the threshold limit for listing. This should limit the number of scrips on the exchange and hence quality companies shall get listing facilities - your comments
[04:58:34 PM] => Sanjay Dutt > I don�t think they need to do this, more than them our merchant bankers need to play a better role and most important... cont.
[04:59:26 PM] => cont....investors must read, read and read the offer document before investing and subscribing to an IPO or entering the secondary mkt.
[04:59:48 PM] => Q: What is the true value of stocks like Global tele & HFCL? where is the bottom for technology stocks?
[05:00:47 PM] => Sanjay Dutt > Great question should have been the first one given the market turmoil in the last few months. If you go by traditional valuation tools like pe, pe to growth, disc cash flow etc. they are a steal and a realistic price should be around 300-400,...cont
[05:01:20 PM] => ...however valuation is not that simple a game and needs to take into account management quality, earning quality, sustainability and business model etc. however I like them ...cont
[05:01:59 PM] => ...at current levels because I am a high risk investor and don�t mind taking a lot of risk for crazy returns (and losses). My view on tech bottom � yes it has bottomed but selectively and I would stay away from tier two and tier three kinds, and invest only for periods > 12 months.
[05:02:50 PM] => Q: Dear Sir, I am not much aware of Market sentiment, and now I am planning to invest few Rs in sharemarket. Could you please tell me where i have to invest my money like in which sector and in which form in shares or Mutual funds. Also let me know about ZEE Telefilms future prospects.
[05:03:27 PM] => Sanjay Dutt > My allocation tech � 40%, pharma 15, fmcg 10, old cyclis 25 and the rest in psu. But please invest and don�t trade or take positions for short term and stick to the top names in the sector in case you cant live with volatility or don�t understand the markets, stick to a mutual fund. ...cont
[05:04:04 PM] => ...Barring management issues (which I think are temporary) I like zee at current levels, good prospects ahead. ...cont
[05:04:26 PM] => ...More info can be had in our mkt. view column or you are welcome to contact me on email.
[05:04:48 PM] => Q: What is cost of investing?
[05:05:29 PM] => Sanjay Dutt > Don�t really understand your question, but cost includes brokerage, demat account transaction and holding charges etc.. or are you talking about impact cost??
[05:06:21 PM] => Q: Any source to know the investment pattern of FII's and Indian Institutional Investors on line daily ?
[05:06:46 PM] => Sanjay Dutt > myiris has this posted daily and you can also visit sebi.gov.in
[05:07:30 PM] => Q: What KP had done to the small investor is a cognisable crime or not?
[05:08:15 PM] => Sanjay Dutt > Am not a civil/criminal lawyer so no comments. However, we as investors (small or big) ...cont
[05:08:27 PM] => ...are answerable to ourselves for loosing money chasing dreams / pied pipers and cannot blame any one for our losses.
[05:09:09 PM] => Q: I am having shares of German remedies . Whether I should sell shares now or wait for open offer by cadila @ Rs 650.00 per shares for 20% equity?
[05:09:37 PM] => Sanjay Dutt > Offer them to cadila
[05:10:17 PM] => Q: What has been your return for the fiscal 2001?
[05:10:54 PM] => Sanjay Dutt > Great question, just like most of us lost money and my return is negative 17-20 % I am a battered bull!!!
[05:11:16 PM] => Q: What is your view on Ramco systems?
[05:11:38 PM] => Sanjay Dutt > I like the stock and the boeing news is good for the company.
[05:12:36 PM] => Q: Do you prefer a share whose sales are every year rising by 30 to 40 percent and net margins are only 8 to 9 percent when compared to huge net margin on sales but no assurance of sales growth.
[05:13:21 PM] => Sanjay Dutt > I prefer companies with healthy bottom lines and in any case I don�t marry my stocks, if the growth is not there or not foreseeable, I exit ASAP.
[05:14:08 PM] => Q: Given the current market scenario could you give me a portfolio wherein I could earn an average return of around 20% over a period of the next one year
[05:14:56 PM] => Sanjay Dutt > check myiris portfolio...contd
[05:15:08 PM] => ...or see our newsletters posted on the site, however, you are welcome to send me an email in case you need any help.
[05:15:44 PM] => Q: What is your view on tata power given the uncertainty surrounding the mangalore power project
[05:16:12 PM] => Sanjay Dutt > great company specially after the petrodyne deal.
[05:16:56 PM] => Q: Prudent Investing, Research, bottom up approach etc.. etc.. said by MF\'s is just a load of Bull given their current performance - your comments. Should i go it alone with you or anybody as my broker
[05:17:29 PM] => Sanjay Dutt > you got to give mf investments time and not write them off, however if you have the time, competence and a good adviser, ...contd
[05:17:45 PM] => ...you are better off handling on your own. But a combination of the three is difficult !!
[05:18:08 PM] => Q: Are Bull Runs in India just a load of Bull?
[05:18:37 PM] => Sanjay Dutt > finally someone asked this question, yes going by the past few years this is true. If you see the period 1992-2001, we have ...contd
[05:18:59 PM] => ...had average gdp growth of 5-6 percent and if we were to factor this simple rate on the sensex (components of which also keep changing), ...contd
[05:19:19 PM] => ...then a fair value of the index comes to about 5500 today, however we are still struggling between 3500 � 4500 and only once we went beyond 6000. ...contd
[05:19:38 PM] => ...We have lots of issue here � lack of depth and breadth, few large players like domestic mfs and banks etc and low floating stocks, ...contd
[05:19:55 PM] => ...Alleged broker-promoter nexus etc etc. ...contd
[05:20:13 PM] => ...Systemic issues resolved this will not hold true and we will have a genuine sustainable bull run, yes I am long India and intend to make great money in the years ahead.
[05:21:02 PM] => Q: Do you believe what KP had done was illegal? Or is he being made a scape goat?
[05:21:20 PM] => Sanjay Dutt > no comments, let the law takes its course.
[05:22:08 PM] => Q: Should one invest in mutual funds or in equities directly?
[05:22:24 PM] => Sanjay Dutt > depends on what your level of competence, risk profile and time available. If you are passive investor, stick to mutual funds.
[05:23:03 PM] => Q: Interest rates are headed southward so are our markets i think. Where does the middle class put their money , for safety as well as income - u can't trust the banks even today
[05:23:41 PM] => Sanjay Dutt > putting your money is a function of your age, risk appetite, immediate and future needs etc. However, I don�t think our ...contd
[05:24:09 PM] => ...markets are doomed or am convinced they are headed southward, looking a little beyond 2-3 months things will be much better, in equity markets ...contd
[05:24:27 PM] => ...opportunities are always there. However in case you don�t understand equities, use mutual funds. Mfs offer lots of products suitable to your ...contd
[05:24:46 PM] => ...risk profile � debt funds, balanced funds and pure equity funds � growth, sector specific etc. I don�t think you need to worry about your money in the bank, its safe.
[05:25:11 PM] => Q: Futures and Options - are such sophisticated systems meant for us who follow a herd mentality
[05:26:17 PM] => Sanjay Dutt > whenever there is change, there is apprehension and an environment of uncertainty. However, we adapt to it very soon and start profiting from it. F&Os are essential for our markets keeping in mind ..contd
[05:26:38 PM] => ...safety and hedging etc. don�t worry we will understand them and �battle them to victory� when they are launched in july.
[05:27:12 PM] => Q: Are FMCG companies worth the high PE multiple that they enjoy on our bourses. Could you answer the above in context with the Gujarat Earthquake , lack in rural demand and loss of investor wealth?
[05:27:54 PM] => Sanjay Dutt > yes I do agree with you that the high P/E fmcgs are not worth it, however there are some which are still ok. In any case, ...contd
[05:28:21 PM] => remember that at times the high P/E's are paid for higher growth ahead and also when scared capital starts moving to defensive stocks (generally fmcgs are perceived that way). I don�t think gujarat earth is ...contd
[05:28:39 PM] => ...going to have that drastic an impact, yes sluggish rural demand is a major cause of concern, but at the same time you cant ignore this ...contd
[05:29:03 PM] => ..sector from your portfolio. You do need a reasonable dose of fmcgs also.
[05:30:09 PM] => Q: Is it the same story everywhere- looks like the FII's also buy first and then recommend or sell first and then downgrade (that is make the news public) - all Rogue traders your comments
[05:30:34 PM] => Sanjay Dutt > you cant brand all FII's as rogues. The problem is the information flow to the common investor. All the info given by the FII ...contd
[05:30:55 PM] => ...broker or FII is not available and it is only a selective info picked by the media that becomes public. You must understand that don�t go by ...contd
[05:31:19 PM] => ...Their recommendations, you must use your skills and judgment.
[05:31:37 PM] => Q: Where do u see Silverline in 6 months time? Is it a good company.
[05:31:50 PM] => Sanjay Dutt > I don�t like the stock, there are better options in the tech sector.
[05:32:09 PM] => Q: Should I trust the NAV (repurchase price) of UTI\'s US\'64 which stands at Rs. 14.20. Do you actually believe that the assets in UTI\'s fold (this scheme) is correctly valued whether realized or unrealised. - Another Scam in the making what say you.
[05:32:30 PM] => Sanjay Dutt > yes there is a lot of confusion/lack of clarity on the us 64 nav. I don�t know if it is a scam in the making, however in case you ...contd
[05:32:44 PM] => ...have invested and are uncomfortable there are better mf investments to switch to.
[05:33:34 PM] => Q: Your comments on reliance Petro with a one year horizon. Could you also explain the need for its ADR
[05:33:58 PM] => Sanjay Dutt > I find the stock overvalued compared to likes of hpcl and bpcl...contd
[05:34:24 PM] => ...However, it is kind of a momentum play and does move in trends, you could use an uptrend in your favour to exit.
[05:35:36 PM] => I am inundated with Q's. Will try and answer all of them in the limited time we have. just bear with us.
[05:36:11 PM] => Q: What is the difference between a PMS service and an MF. Shouldn\'t professional fund managers be paid on profits and not on losses. Is all the hype around Gods greatest gift to the financial markets a load of BULL!!
[05:36:27 PM] => Sanjay Dutt > A PMS service is run on a discretionary or a non discretionary basis by private managers (authorized by sebi) and they
[05:36:44 PM] => ...are based on an individual contract between the investor and the pms manager. However, mfs offer fixed products on a much larger scale and ...contd
[05:36:59 PM] => ...are not tailor made. Yes I do agree with you that pms and mf managers must get some incentive to perform. I don�t think any fund manager ..contd
[05:37:13 PM] => ...thinks himself as a gods gift, in any case you cant brand all of them, there are many who have performed consistently and given good returns.
[05:37:34 PM] => Q: Does any of the k10 counters offer any value at current prices say DSQ software Zee telefilms
[05:37:56 PM] => Sanjay Dutt > barring the fact that both the stocks have concerns on corp governance, transparency in dealings etc. there fundas are ok, yes
[05:38:16 PM] => ...quality of earnings may be suspect. I personally think they are high ...contd
[05:38:38 PM] => ..risk high gain situations and like zee tele at this level for investment. Would like to keep off dsq.
[05:38:53 PM] => Q: Your view on MTNL\'s business and future plans. Is it worth entering at current levels
[05:39:18 PM] => Sanjay Dutt > Business prospects uncertain, however given the fact the govt plan to dilute its stake makes it a good PSU play.
[05:39:44 PM] => Q: Do u expect Zee Tele to deliver. Is it worth investing given the KP episode, Subash Chandra\'s fascination for Iridium like projects and the unlocked value of Siticable.
[05:39:57 PM] => Sanjay Dutt > I think Mr Subash Chandra has realized his mistakes and ...contd
[05:40:10 PM] => ...plans to correct the wrong done, however trust once lost is very ...contd
[05:40:19 PM] => ...difficult to win back and takes time. Like I said earlier I like zee at the current level.
[05:40:40 PM] => Q: Is Investor Wealth only going to be created through software and momentum stocks . What has happened to pure fundamental infrastructure/basic industry stock?
[05:41:00 PM] => Sanjay Dutt > that is not true, if you look back in the last two years, there are lots of other stocks which have given positive returns if you ..contd
[05:41:49 PM] => ...got the entry levels correct. Problem lies in us (includes me) as we tend to get swayed by the sentiments and fancies in the market. I do ...contd
[05:42:00 PM] => ...know of many investors who bought stocks like sbi, tata power, l&t last year. And the basic rule is � diversify with suitable weightages across sectors/stocks in your portfolio.
[05:42:46 PM] => Q: Are the fII�s good or a curse to Indian stock markets?
[05:42:59 PM] => Sanjay Dutt > Every participant brings in more action into the market, I think fIIs are good. God forbid if they were missing in the last two
[05:43:25 PM] => ...months where would our index be ???? however, I believe that we need to have stronger and bigger domestic institutions in addition to FIIs and these should be run purely to make money and not any social cause!!!
[05:43:59 PM] => Q: What would you think where will the market land on at the end of this year?
[05:44:21 PM] => Sanjay Dutt > very difficult call, however based on a break up analysis of index components, I think the worst has been discounted in the
[05:44:31 PM] => ...companies and things will be definitely better. Conservative upside in ...contd
[05:44:43 PM] => ...top rung companies 20-30 % from current levels, however it is now a bottom up game so don�t worry about the indices.
[05:45:07 PM] => Q: What do u think are the regulations that need to be put in place in order to avoid scams? Do you think SEBI is a vigilant regulator?
[05:45:24 PM] => Sanjay Dutt > our markets are already over regulated, however the issue ...
[05:45:37 PM] => ...is implementation of laws and deterrent punishment for law breakers. On ...
[05:45:49 PM] => ...this front were are lacking everywhere i.e. not only the capital markets but also all other areas. I think sebi has done a great job in...
[05:46:13 PM] => ...the capital market in terms of depository, online trading and other regulations, yes at the same time it may not have been lacking in other ...
[05:46:25 PM] => ...areas. More than sebi, I blame the exchange authorities for the present ...
[05:47:03 PM] => ...crisis you cannot expect the regulator to get involved in micro management of the exchanges. Lets look at an example of nse which has had minimal problems or no problems and then compare it with Calcutta?
[05:47:31 PM] => Q: What do you think will be the affect of banning badla once rolling settlement is introduced?
[05:47:54 PM] => Sanjay Dutt > I think the mkt. will take some time to adjust to the new
[05:48:13 PM] => ...system of f & o, however do ask the question to yourself have the
[05:48:29 PM] => ...fundamentals of infosys, ril or satyam changed so as to warrant a 16% down circuit today??
[05:48:51 PM] => Q: Who is your favourite leading lady out of the current heroines?
[05:49:16 PM] => Sanjay Dutt > I would love to date karishma (oops I am blushing already!!)
[05:49:33 PM] => Q: Who is your role model & why?
[05:49:59 PM] => Sanjay Dutt > My Bollywood namesake the famous �khalnayak�
[05:50:32 PM] => Q: What is your view on Global Tele at the current level of Rs.190. Should I hold on or sell it at the current price?
[05:51:03 PM] => Sanjay Dutt > Hold it.
[05:51:30 PM] => Q: What are the measures that you suggest to stop excessive manipulation on our stock markets? As an investor, I\'m now convinced that Indian markets are now only for manipulators. Now FIIs also seem to have joined hands with them. Indian mutual funds also let us down...
[05:51:46 PM] => Sanjay Dutt > there are adequate rules and regulations in place but like I said earlier we need proper implementation. As an investor you ...
[05:52:12 PM] => must look at the stocks on your own and invest and don�t chase fancies/pied pipers. Its ultimately greed and fear that tends to drive ...
[05:52:28 PM] => our actions if we do anything beyond our own means.
[05:52:52 PM] => Q: What will be the impact of ban on ALBM and BLESS on the market?
[05:53:20 PM] => Sanjay Dutt > short term you have already seen todays trading session, however long term very positive - Mkts would be safer, sophisticated and offer more products and opportunities to trade in.
[05:53:36 PM] => Q: How do you rate IPCL, is it worth entering in to this share at Rs. 50?
[05:53:39 PM] => Myiris : We are very Sorry, But no more Questions Please,
[05:53:46 PM] => Sanjay Dutt > yes, looks good.
[05:54:50 PM] => Q: The volumes in Futures market is declining consistently in both BSE and NSE. Would the Futures markets gained its momentum? What outlook do you see for the futures market? Would options excepted by the investors?
[05:55:49 PM] => Sanjay Dutt > yes at present there is no interest and liquidity in the futures market, I am sure that once we have individual stock futures along with a vibrant cash market, we will surely see big volumes in both markets, but we need to give it time.
[05:56:43 PM] => Q: What is the future trend say upto three years hence for major IT companies like wipro infosys satyam and expected price band
[05:56:57 PM] => Sanjay Dutt > I am very bullish on them and unlike the street am overweight the sector. Yes, I have been wrong earlier but at these
[05:57:16 PM] => ...levels if things start to normalize (which it looks like) in the U.S they are very attractive. Annualized return of 30-40% can be expected from current levels.
[05:57:30 PM] => Q: Are our so called Nav ratna\'s like MTNL , BHEL, IPCL, VSNL etc... worth putting your money in ? Is there any value in such stocks.
[05:57:41 PM] => Sanjay Dutt > tremendous value, but the important thing is that they are psu privatization plays and if this process is delayed or dropped then these cheap stocks become literally ��cheap��. Ultimately a ratna is a only a stone!!!!!
[05:57:56 PM] => Q: Is mascon global a good buy at this level?
[05:58:08 PM] => Sanjay Dutt > I don�t like the counter, stick to the best names in the business.
[05:58:29 PM] => Q: How is market trend in near future?? How do rate HCL tech shares??? How much is the fair value.
[05:58:38 PM] => Sanjay Dutt > sentiment and trend today was very lousy, we may meander around these levels till we get clarity on this albm badla issue. However on a scrip specific basis, some stocks including hcl tech are great buys for a one/two year investment. Fair value on HCL tech in my view is 400-450.
[05:58:56 PM] => Q: Why the stocks of small IT companies are come down to earth, touching high around Rs.100.00 now are being traded at Rs. 0.20 - Rs.0.75 -- Is there any hope of recovery.
[05:59:06 PM] => Sanjay Dutt > I don�t have any hope on the small counters, stay away. They have come down because of multiple reasons such as - slow down in the tech sector and also because they had reached crazy and unjustified prices.
[05:59:27 PM] => Q: Every now and then I hear on TV and other brokers speak of investment in defensive sector stocks like FMCG,pharma etc.. What does one mean by this terminology. Is it that by investing in such stocks i as an investor shall not loose his capital. Do such stocks give good returns?
[05:59:54 PM] => Sanjay Dutt > Defensive simply implies that they are less prone to demand supply cycles for their products i.e. there sales and profits will continue to grow at reasonable rates and they are less prone to economic downturns. There is obviously no guarantee that your capital would always be safe if you get your timing and prices wrong, you can loose money in them. However at the same time they will not give you spectacular return like the so called momentum and growth stories.
[06:00:20 PM] => Q: Why is it that statement of Azim Premji that wipro will be 5bn$ co. by 03-04 has failed to enthuse the market,should it not be taken as bullish news?
[06:00:31 PM] => Sanjay Dutt > you must remember that in the short term markets are driven more by sentiment than company fundamentals. However, eventually fundamentals matter and yes this news is bullish that�s why I am overweight it sector for the long term.
[06:00:53 PM] => Q: How do you define the value for a stock. Is it just perception or a whole lot of bull. Look at infosys, digital, wipro etc.. are they not screaming buys. Where are the investors ?
[06:01:16 PM] => Don�t worry, in the short term it is only sentiment that matters yes they are good buys just like same time last year they were great sells. We tend to overreact at both levels. Value is ultimately the perception of the buyer/seller. However, getting objective, I use various tools � P/E, P/E to growth, disc cash flow, ROCE and ofcourse technicals before deciding whether a stock is valued right.
[06:01:48 PM] => Q: Considering that most stocks move due to buying or selling by funds or large brokers do you feel that a small investor should step into the market knowing that he has no protection from these funds which can pull the rug from under any stock at any given moment.
[06:01:59 PM] => Sanjay Dutt > that�s not true, you must understand that what you are buying is of value, simply put cheap or expensive. Don�t go with the herd �cause eventually fundamentals and the mgmt quality is what drives the price in the long term. In fact the short term aberrations (both ways) should be used to buy or sell, most important do cut losses and book profits.
[06:02:24 PM] => Q: Given whats� happening in the market scams, rolling settlement , lack of depth is it worth for me to invest my hard earned money at this juncture- if yes which stocks and at what levels. If you cannot mention stocks can u please tell me a portfolio / sectoral breakup - thanks
[06:02:38 PM] => Sanjay Dutt > don�t worry, we will get over all this do invest in good stocks with funda strength, good management etc.. I have already given sectoral breakups above and my view on specific stocks. But be careful equities are risky and don�t put all your eggs in one basket (equities).
[06:05:03 PM] => Q: I'd like to know about future prospects of AFTEK INFOSYS LTD-is it advisable to invest at these low prices, since company has already started shipment of POWERSURFER to CA,USA? Further when this Bloodbath in ICE sector would stop
[06:05:48 PM] => Sanjay Dutt> I would stay away from this. Ice sector bloodbath is at the end, however only for the top rung stops, I don�t think there is any hope with the small ones.
[06:06:12 PM] => Q: What do you think of today\'s fall in sensex? Can it be termed as technical correction or melt down has set in again? Do you advise for entry into TMT stock at this level?
[06:06:48 PM] => Sanjay Dutt> based on technicals (island formation, incase you understand it) we have a decent close so I would term it as a correction. However in case we break todays low again on Monday then we have the risk of going below 3000. I am positive on top tmt counters so don�t worry but please don�t buy them for a trade, only invest. So buy with a stop loss to protect your downside.
[06:07:27 PM] => Q: Should i sell 100 silverline delivery i bought at rs. 90
[06:07:38 PM] => Sanjay Dutt> yes I would sell.
[06:08:55 PM] => Q: After today's corrections in the market which ICE stock(s) in your humble opinion makes a great buy?
[06:09:20 PM] => Sanjay Dutt> I recommend satyam, Polaris, digital, infy and wipro.
[06:10:04 PM] => Q: Your question: basic point being that when stocks were at the analysts without naming any were crying hoarse to buy and now they say one should sell or hold on...so how can one believe them now
[06:10:22 PM] => Sanjay Dutt> Great one, don�t believe any analyst go by your own analysis and judgement. Ultimately you are the one who is putting his money. In case you cant handle it or don�t know enough, go to a professional or a mutual fund.
[06:10:38 PM] => Q: What do you think about the impact of economy slowdown in US to INDIA
[06:11:07 PM] => Sanjay Dutt> Bad, particularly for the it sector. But we have already borne the brunt. Things will get better now, but you need to give it a few months.
[06:11:42 PM] => Q: We�d like to know about Mascot Systems LTD-company came-out with an IPO @ 480,now quoted at 85,is it worth buying?
[06:12:10 PM] => Sanjay Dutt> stay away.
[06:12:25 PM] => Q: What is your view on Global Telesystem
[06:12:46 PM] => Sanjay Dutt> hold
[06:13:13 PM] => Q: What are the industries which will outperform in next two quarter specifically which companies in these industries will outperform will outperform
[06:13:34 PM] => Sanjay Dutt> Difficult to talk about industries, my picks are sbi, l&T, infy, satyam, balalji tele, itc, nestle etc. for details check the myiris portfolio or our weekly views on myiris site.
[06:13:54 PM] => Q: Is Sonata software a great buy at its current levels of RS 21-23?
[06:14:28 PM] => Sanjay Dutt> yes, this is one of the few small software ones I like.
[06:14:49 PM] => Q: Do you think FIIs and long term investors will have more confidence in the market once badla is done away with?
[06:15:01 PM] => Sanjay Dutt> yes, f&o makes the market better and more sophisticated as they are hedging tools.
[06:15:22 PM] => Q: Is it right time to go for mutual funds now.How does Mutual funds stand in near future.
[06:15:42 PM] => Sanjay Dutt> yes, but remember like all equity investment, you must take a sip � systematic invest plan i.e. a small sum invested/saved is much better than coming in and running out at one go.
[06:15:55 PM] => Q: please let me know the long term future (share price) for hero honda
[06:16:10 PM] => Sanjay Dutt> great company, hold on to it. The best auto sector play.
[06:16:35 PM] => Q: I am currently staying in ireland. i am interested to invest on shares in india. How should i select my shares. I am looking for
[06:17:05 PM] => Sanjay Dutt> pls. check on some of questions answered earlier. Its all in there, however do send me an email in case you are not satisfied with the answers and info on myiris.com
[06:17:19 PM] => Q: What is your view on DSQ Software and DSQ Biotech. Will the stocks go up?
[06:17:34 PM] => Sanjay Dutt> there are better options in the market. Stay away.
[06:18:09 PM] => Q: With the ICE bubble burst, party is over for ICE sector? whether boom time will ever return in ICE sector,as witnessed earlier? Like to
[06:18:25 PM] => Sanjay Dutt> the bubble has not burst, it is only return to reality. Yes, good stocks will appreciate, ramco looks good but I would stay away from mascot and aftek. My top five picks are already answered above.
[06:18:45 PM] => Q: I want to know the future of tech stock specially front line like
[06:18:59 PM] => Sanjay Dutt> stay invested in these stocks, however if you have not invested, do so at the current levels.
[06:19:15 PM] => Q: please comment on dabur g.v.films bses,
[06:19:36 PM] => Sanjay Dutt> dabur & bses look good. Gv films stay away.
[06:20:04 PM] => Q: in your opinion are there any great companies out there that markets seem to be ignoring
[06:20:36 PM] => Sanjay Dutt> yes, lots most of the it companies at low valuations, stocks like global trust hammered to nothing, balaji tele, kotak mah finance, kesoram ind, shree cement, jai praksh. However, you need to invest for 1-2 years for big gains. Similarly, if you want high risk high return plays try some of the neglected second tier it stocks like odyssey tech, fujitsu icim, Aztec etc. but risk is high and these bets can fail also.
[06:21:12 PM] => Q: How are the funds distributed in the market? What are the schemes for a Distributor?
[06:21:30 PM] => Sanjay Dutt> mutual funds are distributed through agents and brokers, various commission rates are given based on the scheme and period of raising money. Please check with individual funds.
[06:24:51 PM] => Myiris: We are sorry but we have run out of time. All participants whose Q's have remained unanswered will find there answers in the archives later in the evening.
[06:25:45 PM] => Myiris: A special thank you to Mr Sanjay Dutt from the MYIRIS team. We thank all participants and hope all of you will join us to ask fresh questions fron Mr Gul Tekchandani. He will be with us at 4.30 pm on Monday 30th April 2001.