| Transcript of Chat with Mr. Ajay Kejriwal ( Director, Jet Age Securities Private Ltd. ) - Markets : Effect of disinvestment (08/02/2002) |
[05:29:46 PM] => Myiris: Welcome to the live chat session.
[05:30:03 PM] => Myiris: Our guest today is Mr. Ajay Kejriwal, Director, Jet Age Securities Private Ltd.
[05:30:19 PM] => Mr. Ajay Kejriwal is the Director, Jet Age Securities Private Ltd. At the time of this conversation / chat, Mr. Kejriwal may or may not have positions in the stocks mentioned below, although holdings may change at any time. The views expressed by Mr. Kejriwal 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. Kejriwal, 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.
[05:30:32 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.
[05:30:46 PM] => Lastly the views expressed by Mr. Kejriwal 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.
[05:30:55 PM] => Myiris: Welcome to the chat session Mr. Kejriwal.
[05:38:15 PM] => Raghu : What will be the effect of PSU disinvstment on the markets?
[05:38:35 PM] => AK : Some years down the road , when we look back, we will see this event as a major milestone for our markets. I think this is the catalyst that was much needed by our markets. I am very positive on our markets going forward from here.
[05:38:55 PM] => Raghu : Will the rally on PSU scrips last or is it likely to fizzle out?
[05:39:14 PM] => AK : Some of the PSU’s are really very strong companies and have good businesses. There is likely to be a good demand for these companies among prospective suitors. However, some of the non-performing PSU’s have also rallied in the current frenzy. Investors can continue to hold on to the strong companies and discard the small and ill run companies.
[05:39:24 PM] => Reddy : Any chance of MTNL touching 200?
[05:39:38 PM] => AK : Yes, a decent chance in the next 12 months.
[05:45:58 PM] => Arup : Your outlook on United Breweries? I didn't sell in the earlier rally in the scrip. What do you suggest I should do?
[05:46:13 PM] => AK : Sell in the current rally.
[05:46:23 PM] => Gopi : Please advice on Relaince Industries?
[05:46:45 PM] => AK : Nothing much happening there. Look at getting out in the current rally.
[05:46:58 PM] => AM67 : Please advise on E-Serve International.
[05:47:17 PM] => AK : Looks very strong technically. However, it has rallied very sharply. Wait for a correction.
[05:47:58 PM] => Gagan : Hi, How does Wipro look short-term? Does it make sense to go short on the scrip?
[05:48:26 PM] => AK : I wouldn`t go short now.
[05:49:00 PM] => NG76 : How do you rate L&T fundamentals? What about the scrip?
[05:49:32 PM] => Ak : L&T is a strong company. Its engineering business is affected due to the ongoing recession in the country. You can buy this stock if you are positive on a recovery coming in the economy.
[05:49:53 PM] => Bala : What’s your outlook on Wockhardt? Is it worth medium-term?
[05:51:00 PM] => Ak : Wockhardt is now working on a business model similar to that of Reddy’s and Ranbaxy. I think they are doing a fairly good job and the scrip will move up.
[06:01:44 PM] => saket80 : What is your outlook on Reliance Petroleum with the recent surge in petro stocks and whether it should be a long term gainer?
[06:02:06 PM] => AK : RPL, to my mind is negatively impacted due to it not being able to get IBP. However, I am very positive on this stock and would recommend buying on weakness.
[06:03:11 PM] => ayanad1: Sir, in your view what should a small investor do with its holding of VSNL ? Better to sell off around 170 in the market or go for open offer? Out of 100 shares How many shares you think will be practically accepted by company considering other large holders are Bank of New York and in the form of ADRS.? Do you see stock prise of vsnl going above 202 levels before open offer? Also what is your view regarding IPCL as it is the next candidate. Does 100 Rs. target which govt. planned to get looks achievable for the stock now?
[06:03:39 PM] => AK : I think the open offer price of 202 is very attractive. Out of your holding of 100 shares, around 43 will be accepted. You can sell your remaining shares at the ex-offer price, which I think, will not be drastically lower than the current price.
[06:03:57 PM] => Regarding, IPCL, I think, the book value of Rs 120 will be the benchmark for disinvestment. However, there are very few bidders in the fray and I am not sure if the disinvestment will be at an attractive price.
[06:04:23 PM] => ayan : Sir, how you see market on the eve of Budget day form the current level. Up or down? Which sector/Companies do you think will be higher if your answer is yes?
[06:04:34 PM] => AK : I think there are expectations being built up and this should translate into higher prices.
[06:05:12 PM] => cmukund72 : When will be the open offer for IBP? Will it be through the secondary market? I have 100 shares of IBP, what is the best way to profit from it?
[06:05:29 PM] => AK : The open offer is generally through the tender route. Send your shares in the open offer.
[06:15:25 PM] => Sanjay : How do you think the derivatives market will perform in India? Can retail investors play the market?
[06:15:49 PM] => AK : The derivatives market will grow in volumes. I think the current volumes will grow several fold in the coming 2-3 years. This will be largely facilitated by the introduction of stock futures in more number of scrips. Also, the product is now being appreciated more by the retail investors. However, once institutional investors start participating, this will be a different market altogether.
[06:16:03 PM] => Jose Puthoor : Can you tell me when to get out of PSU Oil? I hold BPCL and HPCL. Is it the right time?
[06:16:51 PM] => AK : Sell just prior to the actual disinvestment of these companies.
[06:17:02 PM] => Paul : Is Silverline worth buying?
[06:17:12 PM] => AK : Not at all.
[06:17:24 PM] => Rajesh : Is market like last years in going to peak in the current month of the fiscal?
[06:17:45 PM] => AK : No idea.
[06:17:55 PM] => Himanshu : When is the next rally in the markets going to be?
[06:18:06 PM] => AK : It is already on.
[06:18:29 PM] => Himanshu : Which sectors are going to lead the revival in the markets?
[06:18:44 PM] => AK : Banking, PSU’s.
[06:19:22 PM] => Ramesh Jain : Mutual funds are still launching the debt schemes, does it means the professional fund managers are still reluctant to bet on the equities markets?
[06:20:44 PM] => AK : Not exactly. It is the investors who are reluctant to give money to the equity schemes.
[06:20:55 PM] => Ketan : HPCL and BPCL; are they over priced or they are still ready for scaling up new heights?
[06:24:51 PM] => AK : They are good trading bets.
[06:25:03 PM] => Jeev : Sir, When should I sell Infosys?
[06:25:17 PM] => AK : If you have the capacity, hold for a year.
[06:25:25 PM] => Alok : What's your outlook on the interest rates?
[06:28:49 PM] => AK : Soft in the short term. However, I think rates are going to harden by the third quarter of this year.
[06:28:59 PM] => Pradeep : What do you think is the future of cement sector?
[06:29:11 PM] => AK : Bright.
[06:29:23 PM] => Manish Londhe : Outlook on Zicom, Zenith Infotech?
[06:29:35 PM] => AK : No idea.
[06:35:50 PM] => sushil kr bhartia : can sci be purchased at this rate
[06:36:03 PM] => AK : No. wait for a reaction. The run-up has bee very sharp.
[06:36:14 PM] => sushil kr bhartia : but hvh was telling me that market will crash soon
[06:36:29 PM] => AK : Every person has his own view. Different views helop in making the market strong.
[06:36:49 PM] => Ayan : how you see siemens and indogulf stocks moving in the medium term?
[06:37:01 PM] => Ak : Indo gulf is very attractively priced and should move up
[06:37:13 PM] => sanjay Sharma : can i invest in m & m. is it still worth ful.
[06:37:28 PM] => Ak : Yes M& M looks good. But be a trader.
[06:37:41 PM] => sushil kumar bhartia : i have to invest 50000 plz give me tips
[06:37:55 PM] => Ak : The big tip is : do not buy/sell on tips. Do some homework. You can look at Corporation bank.
[06:44:50 PM] => sylva : Can ADR/GDR holders participate in the buyback offer of VSNL. Are ADR/GDR shares?
[06:46:25 PM] => AK : ADR/GDR’s are not shares . They are have shares underlying them. These securities can be converted into shares and then submitted for the buyback.
[06:46:40 PM] => Deval : When is BHEL in disinvestment list?
[06:48:45 PM] => AK : Probably next year.
[06:48:54 PM] => Sushil : give idea about avantis pharma.
[06:49:09 PM] => AK : Good company, Hold on.
[06:49:18 PM] => Sushil : advise about ipcl too
[06:49:26 PM] => AK : Buy it around 60
[06:49:50 PM] => Sushil : budget will be bullish for the market and for salary class people as well?
[06:49:59 PM] => AK : I hope its bullish for the salary class.
[06:50:20 PM] => Sushil : i hold few shares of hindalco. i want to sell this at the offer price. how can i sell.
[06:50:52 PM] => AK : What offer price? They are going to buy from the market.
[06:51:01 PM] => tinu_pandey : What are ur best 5 picks from FMCG sector
[06:51:13 PM] => AK : HLL, Marico, Nestle, P&G
[06:51:23 PM] => ayes : Who do you think will buy IPCL?
[06:51:42 PM] => AK : Reliance is a strong contender.
[06:51:53 PM] => Mridul : The Present PSU disinvestment has pulled up the PSU stock prices with few other PSU\'s in line for disinvestment Do u consider buying shares of those PSU\'s will benefit in future ??
[06:52:00 PM] => AK : Wait for a reaction.
[06:52:11 PM] => Sachin Rananavare : Where do you see SATYAM in next 10 months
[06:52:26 PM] => AK : Much higher than its current level.
[06:52:42 PM] => sham chulani : I hold archies greetings and blue dart, elbee services. should i hold or sell.
[06:52:52 PM] => AK : Archies greetings old business is dying a slow death. Sell. You can hold on to Blue dart.
[06:53:02 PM] => sham chulani : kindly comment on federal and oriental bank. i hold both these stocks
[06:53:11 PM] => AK : Hold on to your banking stocks. I expect some policy level changes in the budget.
[06:53:45 PM] => mmakha : Do you think that IOC was justified in paying such a high premium for the shares of IBP. The minority shareholder of IOC has been taken for a ride wouldn't you say?
[06:54:04 PM] => AK : Yes, I agree the price was bordering on the absurd. However,I am sure in all their wisdom, they must be having some very good reason to bid at such a high price.
[06:54:24 PM] => Myiris : Thats the end of the chat seesion for the day.
[06:54:39 PM] => Myiris : Thank yo uall for logging on.
[06:55:03 PM] => Myiris : We thank Mr. Ajay Kejriwal for his time and inputs.
[06:55:32 PM] => Myiris : We'll be back again on Monday, Feb-11. Till then its bye from us.
[06:55:43 PM] => Myiris : Have a nice weekend!
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