[04:18:36 PM] => Welcome to the Live Chat Session : Mr Nimish Shah will be joining shortly
[04:19:34 PM] => DISCLAIMER :
[04:20:05 PM] => Mr. Nimish Shah is the Director / CEO of Parag Parikh Financial Advisory Services Ltd. At the time of this conversation / chat, Mr. Shah may or may not have positions in the stocks mentioned below , although holdings may change at any time.
[04:20:27 PM] => The views expressed by Mr. Nimish Shah 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. Shah, 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.
[04:20:48 PM] => Lastly the views expressed by Mr. Shah 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.
[04:32:06 PM] => Welcome to the live chat session Mr Nimish Shah
[04:32:45 PM] => Pritiajit: What do you suggest for US 64 of UTI?
[04:33:08 PM] => NS: I would not like to give suggestions on specific stocks or mutual funds as it is not right to comment in public on them without disclosing my or my companies holdings in the stock / mutual fund.
[04:34:39 PM] => Vrvinay: Can Amararaja, German Remedies, Pentamedia be brought at current levels?
[04:35:09 PM] => NS: Markets currently look undecided. They could move either way from here. You could wait before making any investments.
[04:35:49 PM] => Libra169: Why delay in Himachal results?
[04:36:13 PM] => NS: No comments on specific stocks.
[04:36:36 PM] => Chackovacha: HFCL fundamentals are still very strong though only sentiments have changed.
[04:37:09 PM] => NS: What is your opinion of this company? Can it cross Rs 1000? The TMT sector as a whole looks good in the long term. But I am of the opinion that the sector would see some more correction from current levels. No comments on HFCL
[04:37:33 PM] => Vicksm: Where do you think the markets are headed? Has the bottom been reached?
[04:38:45 PM] => NS: The bottom may not yet have been reached. Indexwise it is difficult to say, but stock specific movements will be there where excess of the past would be corrected either ways.
[04:39:07 PM] => Srikumarc: How transparent is the functioning of PMS services in India? Are these schemes regulated and monitored by any independent agency?
[04:39:38 PM] => NS: Let me begin with answering the second part first. PMS services require a separate registration with SEBI. SEBI stipulates certain norms for being registered as Portfolio Managers. The schemes are monitored by SEBI and we have to submit periodic reports giving details of the schemes.
[04:40:09 PM] => Transparency in the PMS services can be as good as the Portfolio Manager wants it to be. SEBI requires a yearly audit of the schemes. But, for example, for our PMS services we provide full transparency by getting the schemes audited every quarter by international auditors and by giving details of the clients holdings on the net at the end of every week.
[04:40:57 PM] => Pjkahdelwal: Purchased 500 Dsq@94 and 500 Silver @ 92 what should I do?
[04:41:40 PM] => NS: No comments on individual scrips. But, this sector has seen the highs and the lows in the recent past and are again trying to come up. As mentioned earlier, I feel that there is still some downward correction in the valuation of the TMT sector.
[04:42:21 PM] => Bhadrishj: I am holding 200 shares of Krone Communication of average price of Rs. 325/-please advice about future of the Company?
[04:42:37 PM] => NS: Again, no comments on individual stocks.
[04:43:05 PM] => Nileshsuchak: How do I get ready information about book values of 176 shares in specified group of BSE?
[04:43:23 PM] => NS: The best possible place would be web sites like Myiris or if you could get access to company databases like Capital Line.
[04:44:51 PM] => Myiris.com : Dear participants, Please don't ask stock specific questions, Mr Shah will not comment on individual stocks.
[04:45:08 PM] => Kichuanand: How do you make money in this mad market when millions lose money everyday and there are manipulators all around and a regulator sleeping?
[04:46:03 PM] => NS: A very good question. Money is never easy to make. Greed, Hope and Fear drive the markets and it is those who follow these that loose money. This does not mean that the others do not loose. The others may loose relatively less in the short term, but in the long term, they will gain. Investing and making money out of it requires an alert mind to spot opportunities, have faith in the investment (unless proved otherwise), keep a long-term view and have the guts to hold on in face of adverse market conditions. And, buying at the right price and exiting on long-term bad news generally help make money in stocks. Manipulators generally give an opportunity to long-term investors.
[04:46:20 PM] => Lalit: What do you mean by PMS? How is it different from investing in MF�s?
[04:46:42 PM] => NS: A Port Folio Management Scheme is one where your funds are managed separately for you. In a Mutual Fund, the funds are pooled and then common investments are made. There is no client-wise segregation of portfolios. Individual attention to a clients� portfolio is the main advantage of a PMS scheme.
[04:47:03 PM] => Bharatkumar2020: Should I sell my shares in the Cabot Buy back which is at Rs.100/- or is it beneficial to hold?
[04:47:31 PM] => NS: Buy back of shares is the latest buzz word since the government has allowed various % buy-backs in various sectors. The main reason why there is a spate of buybacks now is that the foreign promoters are finding the current low valuations very attractive to increase their stakes and to get full control. However, the sad part is that this would de-list many good companies and hence deprive investors. As on Cabot no comments.
[04:48:13 PM] => Ashish: Are PMS managers paid only if they perform i.e. make profit for a customer unlike a MF Fund manager? If no then what is the difference? What are the rates charged by you for PMS?
[04:48:59 PM] => NS: As of now, PMS managers are not allowed to get performance-linked fees. However, SEBI is considering a change to this effect. In fact, such an arrangement makes a win-win situation for both the investor and the PMS manager. As for our rates, you are welcome to call us or e-mail us on [email protected]
[04:49:18 PM] => Viswanath_g: What should I do with 1000 shares of Vikas Wsp I have now
[04:49:27 PM] => NS: No comments.
[04:49:57 PM] => Jajoo: Are not MF's doing a discretionary PMS service for certain high-ticket clients - Is it legal?
[04:50:24 PM] => NS: MF�s are allowed to to PMS. They have to take a separate license for the PMS activities. But, the primarily cater to super HNI�s.
[04:50:51 PM] => Husain40: Since in PMS I believe you take independent decisions to invest without consulting the client. I would also presume that you research such stocks. I have gone to your website as well as seen some research of yours on myiris but I do not see any fundamental company reports Why. How do I judge your capability as a Professional Fund Manager without reading about the reports that you generate?
[04:51:35 PM] => NS: Our idea in managing a portfolio is certainly based on good amount of research. We do have a research team. Infact, it is headed by our Chairman, Mr. Parag Parikh himself. Also, while taking new clients, we do not accept money blindly. We have atleast 2/3 meetings with the client to understand his requirement and to explain our philosophy of investing and the transparency provided by us. Only after full satisfaction of the client, do we accept his money under PMS.
[04:52:01 PM] => Bhushandesai: Will the market be better without badla?
[04:52:35 PM] => NS: Markets have to be in tune with international practices. We have to embrace world standards to have a healthy market. Banning of Badla could cause a temporary setback, but we Indians are smart enough to pickup the alternatives � i.e.. Index Futures, Index Options and Stock Options.
[04:53:21 PM] => Abjeet: Are lower interest rates the only way to rekindle a stagnant economy (a la US. of A). Would you expect Bimal Jalan to do the same in India or should he put stringent controls on govt. expense?
[04:54:30 PM] => NS: Lower interest rates are not the only drives for a buoyant economy. However, they assume more importance now as the economy is opening up by the day. To be competitive, we need to produce goods at internationally competitive prices. And, there the interest rates are quite low. Secondly, the currency rate adjustments happen due to the differential interest rates between the two countries. Hence, when other countries lower the rates, we would also have to follow suit or else be prepared to have a correction in currency valuations. Thirdly, the borrowings of the government are growing by the day. To have lower interest burden in future, it is in the interest of the government to borrow at the lowest possible rates. RBI may have to look at cutting rates over the next month or so. I agree to your point that the Government does need to control its expenses. But, there the RBI cannot help.
[04:54:55 PM] => Rohit.Gupta: Leaving aside the recent speculation on KP whether Global Tele is a fundamentally strong company for investment with 5 year time horizon?
[04:55:21 PM] => NS: No comments
[04:55:48 PM] => D�Souza: If you had Rs. 10,00,000 lakh of my money at your disposal and a horizon of a year what RETURN could you prophecies and what would your portfolio breakup be ?
[04:56:07 PM] => NS: If your investment horizon is just a year, then I would suggest maximum exposure to Debt investments. Investments in Equities have to be looked at with atleast a 3-5 years time horizon.
[04:56:38 PM] => Mutuza: Is ZEE serious of tying up with a strategic partner- if yes on hindsight why did he break of with Rupert Murdoch. Is it just a ploy to rig up the price and probably bail out KP since he holds over 5% of that stock ?
[04:57:11 PM] => NS: No stock specific comments. However, I would suggest not to go by general comments. Invest in a stock only if convinced on its business design, its cash flow, its ability to face competition and the quality of its management.
[04:57:39 PM] => Rksingh64: What are the prospects for WIPRO in one year and three years?
[04:57:54 PM] => NS: No stock specific comments.
[04:58:55 PM] => Sreevidya_balu: Option Trading/Futures would become more important to customers who look for higher performance than mutual funds today. Is it right?
[04:59:35 PM] => NS: Options and Futures have their own set of pitfalls. And, most smart investors look at them as hedging tools rather than speculation. If you are talking about speculation, then yes, if timed well they will outperform even the spot markets. Hence it is not right to say the taking positions in them will always give better returns.
[05:00:13 PM] => Surekh: Why don't you at PPFAS start Debt PMS? I would like to know about that, because it's not worth investing in equity PMS kindly let me know about that, thanks.
[05:01:15 PM] => NS: Yes, we do have a PMS scheme for investments in Debt. The recent meltdown has left a lot of investors being wary of investments in equities. As you may be aware, retail debt investments are not possible due to illiquid retail secondary markets in debt. However, Debt Mutua Funds are the way out. These are funds that invest 100% of the corpus in Debt instruments like Government securities, Bonds, Debentures, T-Bills, CP�s and CD�s. Through this PMS we invest in such debt funds. It is important to note that there are three types of Debt funds � Liquid Funds, G-Sec Funds and Income Funds. India has over 350 debt and equity schemes. To select the right scheme at the right time that is in sync with the investors overall risk profile is of prime importance. This PMS scheme of ours invests only in Mutual Funds and the ratio of Debt to Equity investments would be based on the risk profile of the client. Hence, one could have a 100% Debt PMS scheme for investors looking for safety of funds
[05:03:15 PM] => Jcchandra: Is the speedy clearance and implementation of infrastructure projects the only road to recovery for the Indian Economy?
[05:03:41 PM] => NS: Yes, it is one of them. Overall, we need to embrace capitalism wholeheartedly. Then only could we get long-term investments from abroad (FDI) in huge amounts. This would definitely help the Indian Economy not only to recover, but to flourish. Take the example if China where in the last year they got over 40 billion dollars as FDI compared to 2.6 billion dollar that India got.
[05:04:07 PM] => Janki21: I burnt my hands first with equity, now with US 64 and other equity diversified funds, Whats so different of a PMS. Are you guaranteeing returns?
[05:04:45 PM] => NS: Any PMS cannot guarantee returns. We need to get out of the fact that one can get guaranteed returns, whether it be Equity or Debt. Equity is pure risk. Returns thereon are dependent on the performance of the company, local economy and the global economy. Debt returns are always pegged to the interest rates prevailing in the country. Hence it would not be wise to expect any guarantee of returns on any investments.
[05:05:05 PM] => PMS can be different from a Mutual Fund in the sense that each investor has a different portfolio of his own. The management of the funds is dependent on the performance of that particular portfolio rather than an overall portfolio of a lot of shares. The basic advantage of a PMS is that it allows a lot of flexibility � both to the investor and to the fund manager.
[05:05:34 PM] => We at our PMS too cannot guarantee any returns. What can happen (when SEBI allows so) is that the fees can be pegged to the returns generated by the scheme.
[05:06:03 PM] => Kirit2000: Do you believe in the concept of averaging or is it just hallucination ?
[05:06:38 PM] => NS: It is dangerous to average on a speculative stock. Otherwise it is good to build up position at lower levels on stock on which you are bullish on the long-term.
[05:07:10 PM] => Rana: How will you price an option in India since the statistics of a vibrant and volatile CASH MARKET is not present? Did Prof. Varma from SEBI put his textual knowledge in place and not know the sheer basics of the market place?
[05:07:51 PM] => NS: Options are priced on the underlying security price movements in the spot markets. Infact, this very reason will move the spot markets. I do not think that the spot markets will loose volumes or volatility as the stock circuits will be removed.
[05:09:05 PM] => Redflubber : In today�s market scenario what is your advice to small investors?
[05:09:26 PM] => NS: Spread your risks. Do have a balance between Equity and Debt. In Equity do not have a portfolio of more than 20-30 stocks that you like and track them. In current markets investments in equities should be spread over a few weeks.
[05:09:55 PM] => Naynazaveri: Please give me a good debt investment suggestion?
[05:10:42 PM] => NS: Mutual Funds Debt schemes offer good investments. RBI relief bonds at 8.5% also offer good investments, with a rider that it becomes difficult to get out for 5 years. In Debt Funds, investments in G-Sec funds too look good now.
[05:10:57 PM] => Artsudhir : Which equity fund you suggest to invest in the today�s time ?
[05:11:40 PM] => NS: funds with a well diversified investment strategy and a minimal exposure to TMT sectors could be a good bet as of now. But, invest over a period of time.
[05:12:11 PM] => Sudhir: Most of PMS services in current time has failed to keep interest of investors alive? Can you give the reasons?
[05:12:31 PM] => NS: Equity oriented PMS may have performed negative. But, this has to be seen in relation with the performance of the stocks of the portfolio vis-�-vis MF�s or even the various indices.
[05:14:12 PM] => Harshad: Why have Indian fund operators failed to time market
[05:15:13 PM] => NS: Fund Managers operate under a tight set of rules that define the investment philosophy of the scheme and the fund house. If the fund manager has failed to stick to these principles the fund is surely to perform badly as we have seen in many funds where exposure to a single sectors have been as high as 70-90%. Hence, when the bubble bursts and there is no exit available and if the Hope factor sets in then it becomes difficult for any investor to take an exit.
[05:16:15 PM] => Nacin2000: Can you suggest good index/options/or other vis a vis Sensex fall/rise ? derivative fund for small investments?
[05:16:36 PM] => NS: Derivative Funds and Option Funds could come in in the future. But, for this, we need to have a liquid market for the same.
[05:17:20 PM] => Hema: In today`s market and amongst the scams whom can investors trust for their PMS. Can you please give suggestions as to how one should select a PMS manager to manage their hard earned money?
[05:17:57 PM] => NS: Again a good question. The way to select a good fund manager is first ti define and understand your own requirements out of your investments. Then begins the send part. To search a PMS that closely matches your investment philosophy. Trust in a PMS can come with three things � one is the transparency offered, the reputation of the provider from the business design followed by the provider and the reference provided by others.. As I have mentioned earlier, earning money from investments is very difficult. It is of prime importance to choose the right PMS provider.
[05:18:33 PM] => Harshad: Is there any room left for small investors to enter the market?
[05:19:38 PM] => NS: Yes, plenty. In fact, markets like these provide ample opportunity for long-term small investors find good value. This is evident from the way the foreign co�s are buying up stakes in local co�s due to the low valuations in the markets.
[05:20:06 PM] => Swamy: can you tell us a combination of debt/equity investment suggestions if one has to invest say 10 lakhs in today�s market?
[05:20:46 PM] => NS: I would want to know your risk and age profile for this. But as a rule of thumb, your equity investments should be 100 minus your age. So if you are 30, then invest 70% in equity and 30% in Debt
[05:21:31 PM] => Prashnatc: Why don�t the major banks provide a discretionary PMS for NRIs? Both HDFC and ICICI do not provide this service. Are you aware of any reputable institution that does?
[05:22:01 PM] => NS: I am not aware why they don�t.
[05:22:30 PM] => Prashant: Should retail investors must invest in options for hedging only or for speculation?.
[05:22:45 PM] => NS: Depends on the investors risk capability.
[05:23:33 PM] => Amarharolikar : What do you think of the PPF scheme in light of the falling interest rate? At this rate the interest rate on the PPF will come down to the 5% range in few years? The recent market crash has once again hurt the retail investors. In this scenario of rampant manipulation of markets, does it make sense for a small investor like myself to invest in shares ? What strategy, if any, should a small investor like me follow for investing in shares?
[05:24:23 PM] => NS: As mentioned earlier, interest rates, whether on Bonds or on Govt. regulated schemes like the EPF, PPF, NSC or the RBI relief bonds would be in line with the general interest rate scene in the country.
[05:24:51 PM] => Nimsshah: Where will the Sensex be one month from now ?
[05:25:07 PM] => NS: Your guess is as good as mine.
[05:27:49 PM] => Amar: Debt based schemes of mutual funds seem to be good investment option. Are they really so ? What kind of risk will I be exposed to if I invest in debt mutual funds?
[05:28:47 PM] => NS: Debt based schemes can provide a good alternative. The risk that u run is primarily is price risk and inflation risk. The credit risk is minimal.
[05:29:50 PM] => Adsouza: Do you see a revival in the IPO market given the fact that interest rates on saving instruments are low (and debt instruments do not give a high yield)? Can we expect more telecom/PSU companies (mainly cellular) coming with attractive issues in
[05:30:45 PM] => NS: IPO is just one of the ways to raise funds. Infrastructure projects primarily raise money through debt. As and when we see the equity markets pick up we will see more IPOs coming into the market.
[05:32:12 PM] => Myiris : Please refrain from asking stock specific questions, Mr Shah will not comment on individual stocks
[05:32:48 PM] => Sureshsur: hi NS! are u bullish about the market in near medium and long term? what would be the real impact of the introduction of the rolling settlement? which would be the best bet for the results for the year 2001? when will the US economy revive?
[05:33:08 PM] => NS: We are bullish about the market in the long run. Rolling settlements may have impact on liquidity for a few months but with the futures and options coming in the market will be healthier.
[05:33:36 PM] => Harshanth1994: What would be the fate of the info tech shares in near future?
[05:33:58 PM] => NS: We are not very bullish on this sector. But certain top of the rung can be looked at attractive valuations.
[05:34:25 PM] => Bijal: For a person wanting to make an investment in today's market conditions--what is
[05:35:12 PM] => the best place to invest in?
[05:35:44 PM] => NS: As per now equity make attractive valuations . If you are young then you could invest 60-70% in equity and the balance in debt.
[05:36:09 PM] => Manish: What do u expect the Sensex to close next week?
[05:36:54 PM] => NS: Your guess is as good as mine
[05:37:18 PM] => Surya Iyer: Are the mutual funds are looting the money of the small investors?
[05:37:52 PM] => NS: MF�s have not looted money. Valuations have taken a dip and investors should be aware of the market conditions and take exit when required
[05:38:12 PM] => Bharat Kumar: Do you think it is good for the small investors to give their shares if the price is say at a good premium?
[05:38:33 PM] => NS: If one is convinced on a company and have been able to get a fair valuation of its current business, they could look at selling if valuation is crazily high.
[05:38:44 PM] => Jbist: what is your forecast for the Sensex in June end?
[05:39:10 PM] => NS: I think that the Sensex will be largely range bound in the region that it closes at May End
[05:39:53 PM] => Bhaskar: Are PMS schemes only for the high networth individuals? Are retail investors entertained by the PMS firms?
[05:40:22 PM] => NS: PMS guidelines as of now do not have a lower limit on amount of investments that can be handled by a PMS scheme. However each PMS operator may have his rules for the same.
[05:40:54 PM] => Joydeepmukherjee2000: Sir, I have purchased shares of SSI and Jupiter Bioscience recently and wish to hold for 2 years. Please advice on the long term prospects and an
[05:41:30 PM] => approx. price of these scrips in that period ?
[05:41:56 PM] => NS: Pharma and Biotech offer good investment opportunity at this stage . If one is convinced on a company one should buy at current levels
[05:42:11 PM] => Sudhasurya: Pharma would be the darling of this year do you agree?
[05:42:51 PM] => NS: Yes More than Agree
[05:43:17 PM] => Harshanth1994: whether ban on badla will decrease volumes?
[05:43:43 PM] => NS: Moreover rolling settlements will have an impact on volumes till such time Futures and Options pick up
[05:44:02 PM] => Mehul: What type of funds would you suggest for investment in this type of market ?
[05:44:32 PM] => NS: A mixture of Equity and Debt based on your risk profile . Equity investments could be staggered over a couple of months. Choice of Equity funds should be based on fairly safe and diversified funds with a sound long term investment philosophy.
[05:45:32 PM] => Prismsns: What will be the impact of stopping of badla on the stock exchange for a small
[05:45:42 PM] => NS: Already answered
[05:45:57 PM] => Harshanth1994: The rolling mode will hamper the volumes. What is the best out?
[05:46:09 PM] => NS: Initially yes, the best way out is to wait till the Market takes a certain specific direction.
[05:46:46 PM] => Manish: What do you mean when you say that manipulator's give opportunity to long term investors?
[05:47:14 PM] => NS: When certain scrips have abnormal upward movements, other sector stocks get beaten down by investors wanting to join the bandwagon. This gives an opportunity as valuations get beaten down .
[05:47:55 PM] => Sureshsur: Are you following the technical analysis?
[05:48:07 PM] => NS: When selecting stocks no when investing YES
[05:48:32 PM] => Bharatkumar: thanks for your views on buy back / open offer, still, as an investor should I sell in such open offers if there is a premium?
[05:48:58 PM] => NS: If it is a 100% buy back then you could be part of a very small group who would have the benefits of dividend bonus etc. but would not have liquidity as the stock would get delisted.
[05:49:25 PM] => Krishren: Which industry will do well in coming times. Which sector has turnaround ?
[05:49:44 PM] => NS: Pharma & Fmcg look good . On the turnaround front Cement and Steel look good but being commodity businesses valuations would not turn around.
[05:50:10 PM] => Kumar: what is your prediction of the monsoon in this year? and of FMCG sector?
[05:50:23 PM] => NS: FMCG has been answered . Monsoon have been patchy last year and this year you know as much as me.
[05:50:45 PM] => Don Quixote: People say equity is risky, buy MF schemes. MF schemes have also lost money over last year and NAVs are weak. Assuming I have a three-year timeframe, is it better to just buy a index fund and not get into stocks of MFs? This way at least I dont underperform the overall market. Your comments.
[05:51:22 PM] => NS: Probably you may not be aware that debt funds have given returns of 15% plus over the last 6 months (absolute) . So if u are talking of debt schemes then certainly MF�s have not lost money. Infact over the last 6 months their corpus has grown 2 � 3 times. Index Funds offer a good hedge to your direct equity investments . They also are good for people who do not want to track individual equity stocks. Index funds at these levels can be a good buy but please stagger their purchases.
[05:52:01 PM] => Sachink: Most share buybacks seem to leave share prices lower than buyback prices. (E.g.:
[05:52:27 PM] => Gesco, Raymonds, Bajaj Auto etc). Why does this happen? Your comments...
[05:52:44 PM] => NS: Share buybacks are based on valuations suggested by experts and approved by the Company. Market Price is irrelevant as the company may want to pick up the share only at certain prices.
[05:53:13 PM] => Hemang: What are the implications of MSCI recast for the Indian stock mkt.? Whats the view on the cement stocks in general?
[05:54:26 PM] => NS: MSCI recast is purely due to the free float method of calculating the Index. This fact was known to the markets quite in advance and hence already discounted for. Barring temporary movements in prices , the valuations would remain the same . Cement stocks have been performing due to the cartelisation due to which production and distribution has been controlled . The run up has been purely due to this fact and the increase in demand in certain states. But we do not believe that the prices would sustain
[05:55:01 PM] => Manish: How would u rate performance of Indian Portfolio Managers vis a vis their foreign
[05:55:24 PM] => counterparts?
[05:55:39 PM] => NS: No comments and no idea on this part.
[05:56:06 PM] => Bunny: will there be a further cut in interest rates?
[05:56:17 PM] => NS: Has been answered earlier kindly scroll up
[05:56:39 PM] => Nimsshah: Isn't the IPO market already dead for small businesses genuinely looking to tap the
[05:56:55 PM] => NS: The excesses created in the past have left a haunting ghost , especially for IPO�s small businesses . This will definitely dampen the IPO market for small businesses, however genuine that they may be.
[05:57:53 PM] => Myiris.com : Dear friends, no more questions please, Mr Shah will be answering only last 5 questions.
[05:58:19 PM] => Siwani: I have substantial amount invested in UTI US64 and want to sell
[05:58:32 PM] => NS: I would suggest not to wait for the dividend if u have already decided to sell
[05:59:04 PM] => Pillairadha: With this interest rate scenario where is the debt market headed?
[05:59:19 PM] => NS: There has been a substantial run up in the prices of fixed income securities. There is a lot of liquidity in the markets which is preventing interest rates to harden. This would signal a steady interest rate scenario which we believe could come down further by not more than 25-50bps
[05:59:31 PM] => Inder: How do you predict the future of Sensex? are tech.& pharma going to dominate?
[05:59:48 PM] => NS: Difficult to predict the sensex since many stocks that are showing movements are out of the sensex. Tech has already dominated the markets so much so that it created the big bubble which has been burst recently. We do not believe that this sector , leaving aside a few leading stocks, can again dominate the markets. Pharma as a sector looks good but here again it would be stock specific movements.
[06:00:02 PM] => Ajay: Sir,looking at todays markets do you see any danger of big fall if FII stop supporting?
[06:00:39 PM] => NS: Firstly FII�s will not act all together unless there is an event risk in the markets. If they decide to step out all at one time , then there would be temporary setbacks.
[06:02:01 PM] => Manish: What would u advise that despite buy back offers if a stock holds long term potential should one offer the shares?
[06:02:25 PM] => NS: I have already answered the above question kindly scroll up
[06:04:56 PM] => Myiris : Sorry friends, MR Shah will answer only last two questions
[06:06:39 PM] => Myiris : just hold on friends, Mr Shah is on a call
[06:07:55 PM] => Vinaypandey26: what do you think about the future of NBFC's in India ?
[06:08:10 PM] => NS: NBFC�s have a very limited role to play especially after the CRB scam. I do not see too much of a future in these companies unless they are providing value added services.
[06:08:20 PM] => Manish: Your comments on cement stocks are unclear Kindly throw some light on the macro levels?
[06:08:37 PM] => NS: Cement demand is definitely less than the supply , but the inconsistency�s in pricing due to undercutting is bleeding the Industry. Further world over there are just 3 � 4 companies in the cement sector while we have over 100. This could be one reason why the cartelisation may not work beyond a certain level. Also this is a very capital intensive Industry. Currently markets are rewarding companies with the maximum ROC and businesses that can continuously generate new ideas. Commodity stocks therefore may not be able to move.
[06:09:57 PM] => Myiris : Thank you Mr Nimish Shah for informative and lively chat session
[06:11:03 PM] => Thank you all the participants and join us for next live chat session on 28th May, 2001 with Mr R.K.Gupta, CEO Creditcapital Asset Management
[06:11:30 PM] => Thank you all and Bye for now