| Transcript of Chat with Mr.Sandeep Shenoy.Strategist,Pioneer Intermediaries Pvt. Ltd. - 6th September 2002 |
[04:26:29 PM] => yiris: Welcome to the live chat session.
[04:26:42 PM] => Myiris : Our guest today is Mr. Sandeep Shenoy, Strategist, Pioneer Intermediaries Pvt. Ltd.
[04:26:54 PM] => Mr. Sandeep Shenoy is a Strategist with Pioneer Intermediaries Pvt. Ltd. At the time of this conversation/chat, Mr. Shenoy may or may not have positions in the stocks mentioned below, although holdings may change at any time. The views expressed by Mr. Shenoy 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. Shenoy, 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.
[04:27:01 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.
[04:27:12 PM] => Lastly the views expressed by Mr. Shenoy 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.
[04:27:20 PM] => Myiris: Welcome to the chat session, Mr. Shenoy.
[04:31:30 PM] => vnk123 : When shall the market sentiments improve especially in the ICE sectors where many have lost their life's savings and how do you see the future for these sectors?
[04:31:40 PM] => SS : The market, on the whole, is on an improvement course, and one should see good times ahead. The outlook for the ICE sector, is however not too encouraging, as the whole industry is on a realignment spree. We are of the opinion that things will be very volatile in ICE sector till the picture becomes clearer, hopefully by dec �02.
[04:32:20 PM] => laly_basu : The performance of the debt funds (income funds) have been generally bad during the last qtr. dividend declared was poor for most funds. do you think they are going to improve in the current qtr?
[04:32:30 PM] => SS: The debt funds should have a good run for another one quarter. There could be a slight dip in the NAV in the second half of September, as the larger players will book profits, but the trend is still up and is expected to remain so in view of the current economic, liquidity and interets rate scenario.
[04:33:04 PM] => madelene : What are the prospects of Telco in the medium term?
[04:33:24 PM] => SS: we feel that auto sector is one of the few sectors, which has emerged stronger from the rough patch of the last 4-6 quarters and has a clear growth path ahead. In medium term, we expect Telco to outperform the markets and we would not be surprises if it crosses its previous top in the coming few weeks.
[04:38:19 PM] => sshah : What would be the impact of high crude prices on overall markets?
[04:38:40 PM] => S: The short term impact of the high crude prices on the Indian markets should be negative, but the shock of the same will be absorbed in the following quarter and we expect the markets to be on their bullish course soon afterwards.
[04:38:50 PM] => ckulkarni : Which are your top sectors in the current market scenario and why?
[04:39:01 PM] => SS: The best sectors to be invested in under the present circumstances will be the Pharma, Engineering , especially the exports oriented ones, Steel and Automobile. The underlying logic for choosing the sector is that when the markets are readying for a rally, there is a lot of volatility, and under such circumstances, it will be prudent to stay invested in defensive sectors and such stocks.
[04:39:11 PM] => mkapadia : Pioneer was among the first to be bullish on steel and agrochemcial sectors, what is your view at present and your top picks in this sectors?
[04:39:23 PM] => SS: We are of the opinion that the steel sector is one of the sectors which has clearly posted a turnaround and has put the bad days behind. We feel that the firm global prices, improved efficiency of Indian manufacturers combined with many players in developed countries shutting shops, will go a long way in enhancing the prospects of large Indian steel players.
[04:49:41 PM] => sm : Pioneer had recommended United Phosphorus six months back at around Rs 80 levels. what is your suggestion at current price, should I hold or book profits?
[04:49:53 PM] => SS: we maintain a hold recommendation on the stock and suggest accumulating the same on all declines as we believe that the company has great days ahead of it.
[04:50:01 PM] => kairavali : What will be the impact of Ambition launched by Hero Honda on Bajaj Auto Ltd. Should we switch to Hero Honda from Bajaj?
[04:50:18 PM] => SS: Though Bajaj Auto has given a good run for money to Hero Honda with Pulsar, the battle will get tougher with the launch of Ambition by Hero Honda. However at the price with which it has been launched, we believe that Hero Honda may not make much profits on it as it could be a classic case of predatory pricing approach.
[04:50:29 PM] => Raghu091 : Any multi-baggers in your list?
[04:50:46 PM] => SS: No, it is very difficult to take a call on multi baggers under the present circumstances. We are of the philosophy that investors should tone down their expectations and stick to stable returns/ safe stocks rather that take risky calls on the so called multi baggers, the downside of which is high risk/ huge loss.
[04:50:55 PM] => Burua : Please suggest some short-term buys.
[04:51:06 PM] => SS: Stocks like ACC, Telco, Ucal Fuels and Exide ind look good in the short term.
[04:51:15 PM] => Hemant : Whats the outlook for the Sensex next week?
[04:51:26 PM] => SS: The Sensex is on a turnaround path and will have difficulties in crossing the 3200 level in the short term. Once the same is crossed, which we feel it should in the coming few days, then one can expect a clear run of 100 points or so.
[04:51:39 PM] => papu4uonly : I had purchased McMillan @ 350/- shall I hold or sell?
[04:51:49 PM] => SS: The company is a well run company with rock solid fundamental. So you should hold on to the same.
[04:51:57 PM] => deb66 : Had invested in Infy @10000/- & in Satyam @ 3900/- have no more money to average, what in ur opinion to do?
[04:52:08 PM] => SS: In your case the only suggestion is to make an exit in the forthcoming rally and remain liquid. We are of the opinion that averaging per se is a bad investment philosophy and is not suitable for common investors. It is like throwing good money after bad.
[05:00:04 PM] => SHARE_SRINU : Suggest the best picks for single day square off
[05:00:33 PM] => SS: Day trading is for very accomplished investors and we do not recommend this strategy for common/ small investors.
[05:00:47 PM] => Bhavik Broker : What you think will be the impact of tomorrow's CCD on PSU stocks as well as markets.
[05:01:18 PM] => SS: The CCD meeting has all the ingredients of a non-starter and we believe that the same is a foregone conclusion.
[05:01:38 PM] => Bhavik Broker : Do you think that there is a political game behind delaying the disinvestment process
[05:01:48 PM] => SS: No comments
[05:02:10 PM] => sathvikas : I am a fresh graduate id like to start investing in shares which ones do u suggest i invest it...because im really interested & id like to start small time first
[05:02:26 PM] => SS: the ideal way for a small investors to commence investment is to check out dividend yield stocks, as they will offer you a protection in case of wrong timing. The best stocks would be the banking stocks and also stocks like GE Shipping, Goa Carbon, Avon Organics etc
[05:18:18 PM] => Bhavik : What's your view on cement stocks, especially L&T, ACC, and GACL. There are rumours of UTI stake sale and consolidation in the sector. Which companies will emerge as winners due to this
[05:18:33 PM] => SS: The cement sector is expected to do well the coming 3-4 quarters and we are bullish on the major players in the same. The UTI stake sale remains a joker in the pack, but we do not expect any setback to the sector due to the same.
[05:18:44 PM] => Jgandhi : I had bought BPCL & HPCL at Rs 300 & 310 hoping to cash in on the disinvestment rally. Now they have fallen on news that the disinvestments may not happen. What should i do
[05:18:59 PM] => SS: The stocks are decent investment and we are bullish on them. The Disinvestments bandwagon has been slowed down, but not de-railed
[05:19:07 PM] => Bhavik :You said that steel sector has turnaround. please mention your preferred stocks in this sector as many companies balance sheet are very weak and are potentially sick.
[05:19:30 PM] => SS: large size players who have an export base like Jindal Iron, Jindal Steel, Tisco, Ispat ind are the best bets in the current scenario.
[05:19:47 PM] => Mayur : purchased pratap steel in 1992 @ 40/- is there any scope for the same in this rally of steel sector
[05:19:59 PM] => SS: my full sympathies are with you. But when an investor has made a bad investment, it is best to cut losses and cash out, even if it is at a loss, as there is no logic in hoping against hope in basket case companies.
[05:20:09 PM] => Sonal : I regularly read your Daily Investspeak. Also read your reports on Bharat Forge and Avon Organics which are put on myiris.com. What kind of investment horizon you expect as I am convinced with the story.
[05:20:21 PM] => SS: three to four quarters for each is a decent time frame for the above stocks.
[05:20:36 PM] => perenialbull : People are talking off BPO being the next big thing in India. What are your views on it? And are there any stocks worth buying in this sector?
[05:20:45 PM] => SS: Though it is a good field and the scope for financially strong players is immense, we feel that a bubble could be building up in the same. So caution is advised while investing this sector.
[05:20:57 PM] => Vineet : Top 3 domestic pharma companies are performing very well, which of you prefer and why. What's your take on pharma MNCs. Who you think will be the winner in US and European markets. What are your comments on litigations particularly US
[05:21:07 PM] => SS: We feel that Ranbaxy is the best bet for the year followed by Cipla and Dr Reddy�s. It would be prudent at present to stick to stick to the top three stocks only. Litigations is a part of life in the US of A and we feel that Dr Reddys could face a bunch of the same in the coming few quarters. The business model of Cipla is the most conservative and it will be the least susceptible to litigations . We don not see much scope of appreciation for MNC Pharma companies.
[05:26:45 PM] => Mayur : gujarat roadrail, puchased 3700 shares @ 42/- what to with this scrip
[05:26:53 PM] => SS: best is to get out of the same, if you can.
[05:27:01 PM] => Harish : purchase hfcl at peak what is yr advice to hold or exit
[05:27:10 PM] => SS: The company has some hope now especially after the GDR issue. So might as well hold on form some more time.
[05:27:29 PM] => Harish : HLL, how is this stock for long term investment
[05:27:40 PM] => SS: We feel that this stock has good scope in the long run and one should hold on.
[05:29:23 PM] => Harish : MRF, how is this company to invest, what are other avenues to invest
[05:29:32 PM] => SS: MRF is the market leader and by and large the most efficient player in tyres sector, but suffers from liquidity problem. So we would not recommend it to small investors. Apollo tyres seems to be a much safer bet.
[05:31:12 PM] => Myiris : That�s the end of the chat for today.
[05:31:19 PM] => Myiris : Thank you for being with us.
[05:31:25 PM] => Myiris : Our thanks to Sandeep Shenoy for his time and inputs.
[05:31:31 PM] => Myiris : We�ll be back on Monday with more on chatmasala.
[05:31:37 PM] => Myiris : Till then bye from us.
[05:31:45 PM] => Myiris : Wish you a happy weekend!
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