Singularity Large Value Fund I, II, and III - owned by Madhusudan Kela and son Yash Kela - have acquired 62.5 lakh shares (two percent stake) at Rs 142.55 per share. At the same price, Ramesh Damani too has picked up 8 lakh shares, while Utpal Sheth has bought 17.5 lakh shares. In addition, FE Securities and Samyak Enterprises each have purchased 14.55 lakh shares.
Ramesh Damani believes domestic stock markets are in the middle on an ongoing bull run and they are nowhere near the top, and even in this phase of a normal market correction, several stocks hit fresh highs on the back of growth plans and ambitious capex.
I would tell younger people if you want to trade, take 5-10% of your money and trade, said Ramesh Damani.
Damani highlighted the importance of staying invested in high-quality Indian businesses despite market volatility, noting India's long-term growth trajectory.
MSTC has said that the company has plans to set up a listing portal for NPAs of co-operative as well as private banks, aside of one for bad assets of PSU lenders.
At the CNBC-TV18 Global Leadership Summit, Ashishkumar Chauhan, Raamdeo Agrawal, Ramesh Damani and Manish Chokhani shared their lessons with investors, and resoundingly echoed the huge potential of the India story.
Backing the right businesses is important, however, one should be careful with the price that it pays for the company, said Manish Chokhani, director of Enam Holding
Market veteran Ramesh Damani expects Indian markets to now consolidate for the next 2-3 months, once the US election euphoria settles down, and feels the high for the year has been made.
The lure of trading has cost the retail investor multi-bagger returns, Ramesh Damani said, adding that the buy and hold way has created longer term wealth.
Ramesh Damani also said that after the strong run up in the markets, he finds valuations in the mid and smallcap space looking 'stretched', and has started to lighten up positions in this space and shift to large cap names.
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Nifty hit a fresh high of 24,000 on Wednesday's session. How do you navigate new highs? Is the market shrugging off adverse election outcome? And what sectors should you invest in? Moneycontrol's N Mahalakshmi speaks with Veteran Investor Ramesh Damani on his big bets for wealth creation. Watch.
India's story is unfolding, and we will do well irrespective of the government we have, said Ramesh Damani. He said that markets like political stability and hopes that policies that have been going on for the last five years will continue for another five.
The best time to invest in Indian equities was in July 1991 before Manmohan Singh announced economic liberalisation; the next best time is now, said Ramesh Damani
On the recent market correction, the seasoned investor said that there's always some froth in the market and doesn’t believe that it is close to bubble territory.
Top investors are betting on India as a multi-decade story driven by a growing middle class, financialisation of savings, robust consumption cycle, supportive government policies.
When Munger spoke he spoke with such candour and preciseness that I can safely say that a generation of value investors are in awe of him, added Damani
The ace investor said the biggest learning that one can take from the market is how to compound money.
The vicious circle of selling is likely to be replaced by a virtuous cycle of buying, and even foreign institutional investors are starting to take note of Indian growth and returning, Damani said.
A surge in the number of investors gives more depth to the market, but it "doesn't necessarily increase the returns that an investor might expect", Arora said.
Investor Ramesh Damani interviewed the big bull Rakesh Jhunjhunwala on his 60th birthday. Take a look at one of his most engaging chats, where he talks about the ups and downs of his journey in markets, creating wealth and his idea of being a good trader and investor.
A close friend of over three decades, this ace investor recalls the rambunctious and illuminating times spent with the Big Bull
Jhunjhunwala’s extraordinary journey has many milestones, among them one is his call on Titan, when the company was deep in debt
In an exclusive interview with N Mahalakshmi, veteran investor Ramesh Damani talks about his association with India’s Big Bull Rakesh Jhunjhunwala