Tourism Finance Corpn:

Heard that reserve price for eAuction of IFCI stake to private sector will be 105-110. And bidding in eAuction can finish at 130-140 range or even higher

Rain Industries Ltd:
Technical perspective by a _leading Brokerage firm_     

It has been strongly maintaining uptrend for last 9 months and currently trading at the record highs. Technically, it’s strongly holding above its 50 EMA on the daily chart and witnessing buying interest on every dip. Traders can accumulate fresh between 105-110 with SL of 98 for *NEAR TERM target of 140*.

TFCIL: Technical View ( by a leading Brokerage)          

  The stock has witnessed consolidation breakout with noticeable rise in volume of late and currently marching towards its record high. Its chart pattern and confirmation indicators are indicating upward momentum to continue. Traders should gradually accumulate between 78-84 zone with stop loss of 72 for the near term target of 110.

Poised for Big Upgrade:TFCI

HUGE IMPROVEMENT IN ASSET QUALITY

TFCI is expected to come out with very impressive performance in quarter  ending March 2017. There is substantial reduction in NPA due to concerted efforts made by Management for cash recovery from top 4 defaulting borrowers.This will result in upgradation to Standard category and reduction of Gross and Net NPAs. NPAs as on 31st March should *come down by 40%*. Such improvement in Asset quality will lead to MUCH HIGHER Valuations and HIGHER _reserve price for auction_
This will improve yield on advances as a result of income recognition.

STOCK CAN BE IN 3 DIGITS IN 1-2 WEEKS

LONG TERM TP 300-400

Update on PFC:

Cabinet to consider Mega Power policy today. PFC will be big beneficiary of such push

Moreover stock will be exdividend from tomorrow. Hence today last day to buy cum Dividend
We reiterate our TP 225-250 in 2018

*Big Savings*: RAIN INDUSTRIES LTD

Rain Industries has raised USD 550 million dollars through Senior Secured Notes. Same will be used to retire earlier HIGH COST SSNs (effective 1st April)

It will lead to annual savings of around *50-55crores in interest cost* adding directly to PBT

_CPC prices have touched all-time high. Rain should report highest ever NP for March quarter. Stock *will* cross 140 in May 2017_

Stay tuned for _more Breaking News_ next week on Rain which can take its share price to 122 by end of next week

Definite Multibagger: TFCI

TFCI is 100% getting privatized. Once IFCI stake in TFCI is sold through eAuction, open offer has to follow.
There are big triggers in pipeline which shall be made public in due course

*We shall not be surprised if TFCI touched 200 in less than 1 year*

We strongly advise Investors not to do trading in TFCI and hold it for few months/ year for spectacular gains

Update on PFC:

Contrary to our estimate of Rs 10, co has declared Rs 5 Interim Dividend
We are unable to reveal reason for lower Dividend. However, now final Dividend in May will be substantial. Total Dividend for FY17 should be 12. We advise to keep PFC in investment portfolio and not for trading. Fundamentally stock is grossly underpriced

Update on Kaveri Seeds:

On 20th, DoW had done Breaking News about Buy back plan of KSCL. Same day co made announcement. Board meeting today to give details of buyback

As per our estimate, kscl should announce Buyback for total 200 cr. It may happen at/around 600 per share. However share price may not go up as co may reserve 100 crores for promoters which means promoters may also tender shares worth 100 crores. This may be taken as negative by mktmen

*Dolly Khanna's Latest/Current Pick*

RAIN INDUSTRIES LTD

Dolly has been buying Rain Industries Ltd since February 2017.

Holding 2783622 shares which means 0.83%

As buying going on, her holding should touch 1% next week

100% ACCURATE info

_CPC prices have touched all-time high. Rain should report highest ever NP for March quarter. Stock *will* cross 140 in May 2017_

Stay tuned for more Breaking News next week on Rain which can take its share price to 115 by end of coming week

Power Finance Corpn:

Board meeting today to declare Interim Dividend. As per our source, *Rs 10 per share*

Stock can cross 150 today itself

High conviction Buy

Investors should note that as and when Govt allows EPF to invest in equities, stock like PFC will be on top of their buy list due to HIGH Dividends. With massive funds at disposal of EPF, stocks like PFC can witness huge rise in stock price

Q4 PAT to rise 700%: TFCI

TFCI should report NP of 23-24 cr vs 3.25 cr, whopping rise of 700%. *This will also be lifetime highest ever quarterly profit*

Stock has almost bottomed out and poised to breach 80.80 and make new 52 week high next week

Vision of Den of Wealth:

1. UCO Bank: More than 1 year back, we had predicted that UCO can come under PCA of RBI

2.Idbi Bank: In January 17 we had mentioned that bank may come under PCA of RBI due to precarious Finance

Now RBI has officially announced that both banks under PCA

*Important Development at TFCI Ltd*
Mr Sanjeev Kaushik, an IAS  of 1992 batch Kerala cadre(MBA in Finance from London Business School (UK) and Mechanical Engineer from BITS Pilani)  has been appointed as Chairman of  TFCI Ltd in the board meeting held on 8th February 2017 being Dy MD of IFCI. Shri Kaushik has worked for over a decade in Global Investment Banking on sabbatical from the IAS. He was Managing Director and Head of Research at HSBC Securities, India and Managing Director of Equities at Lehman Brothers, India. Earlier he has also worked in London as an Equity Analyst at Bank of America Securities (Europe) and as Corporate Finance Manager at ING Barings (UK).
Shri Kaushik has handled Financial Markets in the Department of Economic Affairs, Ministry of Finance, where he handled policy and regulatory matters relating to Capital Markets, Foreign Institutional Investment, Foreign Exchange Management and External Commercial Borrowing. He was Member Secretary of the Committee to Liberalise Depository Receipts, Member of the SEBI Committee on Harmonisation of Portfolio Flows and also of the SEBI Committee on Disclosure and Accounting.
Earlier he was Director, IMF, IFC and World Bank in the Ministry of Finance. Previous assignments in the IAS include Secretary of Kerala State for Ports and Managing Director & CEO of the $2bn Vizhinjam International Seaport being set up in Kerala; Founding Director to establish the Indian Institute of Management, IIM at Calicut; and District Collector of Palghat district in the State of Kerala.
Besides IFCI, Shri Sanjeev Kaushik is also serving on the Board of India Infrastructure Finance Company Limited (IIFCL) as its Deputy Managing Director.
Further in the Budget 2017 Govt has committed to give boost to Tourism Sector being big employment generator and announced
1 Five Special Tourism Zones to be set in partnership with State govt .
2. Incredible India Campaign will be launched across world to promote tourism and employment .
3. Outlay for Integrated Development of Tourism Circuit around specific theme (Swadesh Darshan ) increased to 960 crores from 310 crores in 15-16.
3. Railway will commissioned 3500 kms lines and launched dedicated trains for tourism and pilgrimage .

TFCI Ltd being only NBFC in this sector and having govt patronage will be major beneficiary of the budget 2017 . The appointment of Mr Sanjeev Kaushik as Chairman of the TFCI Ltd will bring the stability at the top management , professionalism, faster decision making , efficiency and improved corporate governance which will take the TFCI Ltd to the growth path like what happened in case of Can fin Home ltd.

RAW DIAMOND READY TO BE POLISHED:

*TFCI*

Above the comment made by senior person of a financial services co who will be participating in eAuction of IFCI stake

As per him, TFCI is available at value equivalent to its Networth which makes TFCI highly undervalued. New private sector promoter will multiply current manpower of 30 to make it fastest growing NBFC

Yesterday IFCI board has already passed resolution for eAuction of TFCI stake. However as per tel talk with our source in co, IFCI has not intimated Bse in this regard ( as not mandatory) as *TFCI is not subsidiary of IFCI. TFCI is Investment of IFCI. Last year, IFCI had sold few million shares and had not given intimation that time also to stock exchange*

IN FACT EAUCTION MAY TAKE PLACE AS EARLY AS FIRST WEEK OF APRIL AND STOCK WILL BE IN 3 DIGITS.

Investors may remember that last month news of govt stake sale in Dredging came and share price of Dredging( biz declining, losses) has spurted from 400 to 700.

_TFCI is a strong buy as eAuction trigger few days away_

*Sh SPTulsian recommendation* Tourism Finance

EPS :  7 ; P/E 10.64x ; Book Value 70 ; P/BV 1.06x​

• TFCI, as a specialized financing institution, has contributed significantly in terms of creation of tourism infrastructure throughout the country and thereby generating direct employment opportunities. The assistance sanctioned so far has helped in creating over 46,000 rooms in approved category of hotels which represents approximately 1/3rd of the total rooms’ capacity in the country. Around 80% of the advances are to hospitality sector. Within hospitality segment, major focus is towards 3star/ Budget category hotels.

• TFCI has also led to catalysing investments to the tune of 26200 Crore in the tourism sector by providing assistance to more than 787 projects

• Modi  Govt measures such as electronic travel authorization, Visa on Arrival and growth of new Tier II cities, are set to encourage tourism in India. Rating agencies expect 8-13% y-o-y growth in tourist arrivals over the next three-to-five years.

• 60%+ of incremental room supply over FY14-19e is targeted at the fast emerging mid-market/budget class. This synchronises well with TFCI’s growth strategy in its next phase of transformation.

• The country has around 29,000 rooms under development, which would be launched over thenext five years.

• The company doesn’t disburse more than Rs50 Cr at a single time to a borrower and also doesn’t lend to borrowers with <BB rating.

• Presently India has about 1,70,000 rooms in classified hotels and it needs additional 1,20,000 rooms, out of which 90,000 rooms in the mid-market/budget segment, over next-five years to meet the gap.

• 9MFY17 Co has achieved their net profit equal to what they have achieved in financial year 2016. This is an NBFC which is available at Rs 600 crore market cap and market price to book value is almost one. This is one of the cheapest NBFC plays.

• Healthy Dividend Yield 3 %

BIG BREAKING NEWS

TOURISM FINANCE CORPN (TFCI)

TFCI is only NBFC engaged in finance exclusively for Hotel, Restaurant, entertainment, Tourism industry in India

IFCI promoter co holds 34% stake:

IFCI.                34%

LIC.                    7%

DIIs.                   4%

Public.              55%

*IFCI has decided to divest it's Entire 34% stake thru eAuction*

TFCI is cheapest NBFC considering the following:

C.A.R.                 37.82%

Book Value.     Rs 75

Equity               80.71cr

FY17EPAT.       80cr (conservative estimate)

Dividend.record.  18-20%

Borrowing Cost     8%

Yield.                   13.83%

NIM.                     5.83%

Establishment Cost 3.5% of Gross Revenue

_Only 30 empkoyees_ 6.70 cr salary bill on Revenue of 185cr

As per accepted norms, NBFC valuation (conservative) is *2xBook or 12xEPS*

TFCI valuations come:

BOOK VALUE (75)X2=Rs 150

EPS (20)x12= Rs 120

*Average of both= Rs 135*

_Big Financial Services companies like Edelweiss, Financial arm of Sun Pharma promoter, Spore based FII, IIFL , IBull group in fray for bidding_

Announcement from IFCI today evening

eAuction can materialize in April 2017

MINIMUM Rs 120 can be in eAuction as 25 year old co which will rerated with private sector entrepreneur as promoter

Stock can be 250 in 2 years

Buy NOW

PFC:

We had informed that co should convene Board meeting on 24th for Interim Dividend. Just now, PFC has informed BSE that Board meeting indeed being convened for Interim Dividend

Once again today PFC had record volumes

We advise Investors not to sell in hurry and hold for much higher gains. Still, PFC most undervalued NBFC and with Govt maximum emphasis on power sector, PFC will continue to grow

_One & Only_

Today Den of Wealth did Breaking News about Buy back by KSCL

And KSCL has just now informed BSE that Board meeting being convened on 27th to consider Buy back

Den of Wealth doesn't believe in HoS or rumours.  We maintain our track record of accurate News Break

Dear Investors, keep MONEY CHEST ready for 2 BIG BIG Breaking News (1 each on Tuesday, Wednesday)

*Above & Beyond Others*

Breaking News:

Kaveri seeds co Ltd

KSCL should today announce Buy back of equity shares worth 200 crores. However share price may not go up much

BUY  PFC/ SHORT TERM

CMP 142-143/Target 156

Stop Loss 136

PFC has been consolidating on broader triangle pattern within 125-140 band for last 8 weeks

It has bounced back from strong support level near 130 forming a strong bullish candle over last week

Today stock has given a positive break out from this pattern and is trading above break out levels of 141

Stock is expected to move towards intermediate resistance *near 156-157 over next 8-10 days*

Stop Loss of 136 should be maintained from tactical perspective

BY *Motilal Oswal Securities*

Breaking News:PFC  Board meeting on 24March

PFC should convene Board meeting on 24th for interim Dividend.
PFC will declare *Rs 10 per share as interim Dividend*. Record date for same will be before  March expiry as Govt wants Dividend in this financial year. Stock has potential to *cross Rs 150 before Record date*as Dividend yield whopping 7.5%

Investors may remember that in Feb share price of PFC and REC used to be at same levels (like twins). However *REC declared Rs 7 dividend and stock rose to 161*

PFC will also spurt like REC. Stock is subdued to selling by 1 FII

_When market is all time high, PFC is most undervalued NBFC and safest buy

Hence Investors can buy in Cash segment for decent return on short run. Stock is also excellent choice for long term Investors. PFC will also declare final Dividend with Q4 Result. _Total Dividend for FY17 can be Rs 13_                                    

*Can any other stock match such huge Dividend Yield*

PFC can be Rs 225-250 in 2018

Infrastructure status Bonds eligibility: PFC

Breaking News (One & Only)

Under Section 54EC, Capital gain upto Rs 50 lacs arising from transfer of Long term Capital Assets *becomes tax free* if this capital gain is invested in bonds issued by entities notified by Govt of India. So far, NHAI and REC bonds are eligible.
Recently Govt has issued a notification as per which *PFC also can issue such bonds. It will enable PFC to raise funds at just 5-5.50%*
It will help PFC to lower it's Interest cost and increase NIM which, in turn, will boost profit margins of PFC

JP Associates:
Today stock has come out of ban.
Investors can buy March series future. TP 19-21

Approval of NCLT has been received. In next few days, debt of 16200 crores will shift from JP Associate to Ultratech.
*As on 31st March, debt of JP Associates will nearly halve to 19000 crores*

Stock bound to be re-rated

Insider News: PFC

As per our reliable sources, PFC should hold Board meeting on 17th March for declaration of Interim Dividend.
Co has delayed sending notice to Stock exchange as only 2 days notice is sufficient to intimate for Board meeting. We feel that notice may be sent immediately after Holi holiday
Hence Investors are advised to hold and add more

Big Breaking News:

OFSS (Oracle Financial Services Software):

OFSS is going for *delisting through Reverse Book building* from Indian bourses

Recently a USA based hedge fund has bought OFSS shares worth 150 cr.This fund specialist in buying stakes in companies which likely to go for delisting ( same fund had bought significant stake in Patni Computer, Astrazeneca)

_Suffolk Mauritius has increased its holding in OFSS from 2.4% to 3.4%_

Citigroup Global, Mansfield and Merrill Singapore hold another 4.14%

Promoter holding 74.13%

For delisting, promoter need around 16%

*Reverse book building for delisting should happen around 4500-4800*

Announcement from Oracle for delisting can come as early as 16-18th March as *Oracle Inc USA ( parent co) meeting on 15th March for clearing delisting proposal*

BUY FOR HANDSOME GAINS

HUGE TRIGGER IN OFFING:

_Triveni Glass Ltd_

Andhra  Pradesh govt is building huge township name AMRAVATI to be state capital. This new city entails huge huge demand for building materials.
*Triveni Glass will be big big beneficiary as it's plant is just 80km away from AMRAVATI and there is no other plant within 200 km radius*

Such huge demand will change fortunes of TGL completely as TGL will wield strong pricing power and go for big expansion to meet multiple- fold hike in market size

If all goes well, TGL can become 300 cr company by 2020 by which time stock should cross 200

_Cheapest building materials stock_

:BREAKING NEWS: JP Associates

*Huge Triggers: Complete turnaround*

1) Co has total 32.85 million ton cement capacity ( out of which 5.2 million ton under construction). JP had last year sold 21.2 million ton to Ultratech for 16189 cr. _After this sale, JP will have 11 million ton cement capacity_

JP has *received NCLT approval*( final compliance) for Ultratech deal. Thus IN NEXT 1 WEEK, total debt of 37294 ( short term, long term) will come down to 21105 cr, leading to substantial reduction in interest cost from June quarter onwards.

2) _Value of its Current/Non-current investments ( excluding core business assets) are more than Entire debt_

3)Further JP owns following Five Star luxury hotels (of which _2 are in prime location of Delhi_):

Jaypee Siddharth Continental Delhi 94 rooms

Jaypee Vasant Continental, Vasant Vihar Delhi 119 rooms

Jaypee Residency Manor Mussourie 135 rooms

Jaypee Palace & Convention Centre Agra 341 rooms

Jaypee Greens Golf & Spa Resorts *( 70 acres)* Noida 170 Suites

JP Associate likely to *SELL Hotel division which may fetch JP 2500-3000 cr* for further debt reduction

*JP Associates has mind boggling assets across various verticals*

JP Associate may _stop incurring loss from September 17 quarter_ onwards as Interest cost will plunge with lower depreciation

JP Associates undergoing complete restructuring. Stay tuned for more inputs( only from DoW)

TP Rs 21 March Expiry

TP Rs 60 in 15 months

AXIS Securities on PFC:

E Margin- Buy PFC 138. SL 134. TP 143, 146

Breaking News

Rain Industries Ltd

Promoters have released pledged of 25316465 shares being 7.53% of equity. Thus as on date, entire promoter holding is free ( no pledge)

Investors can expect a *major corporate announcement in next few days*

Stock can be (provided markets are not down significantly) 110 in less than 2 weeks

Gee Ltd: A Microcap for Large returns

Co is in biz of Welding accessories ( same as Esab), profit making. Promoter holds 74.42% of 4.72cr equity.

Gee has big parcel of land on Mumbai border. JV agreement signed to build IT park. As per terms of JV, developer will bear cost of construction and *Gee will get around 2.75 lac square feet space which can give 18cr per annum as lease rent*. Stock can be in 3 digits.
Gee Ltd will have uninterrupted annual income of lease rent. _Mini Ruby Mills in making_

Full report will be released tomorrow. This snapshot for benefit of Den of Wealth members

_Huge spurt in Sanctions_

*Assured prospects for 4 years minimum*

POWER FINANCE CORPN:

1) Q3 loan Sanction spurt 64%  YoY at 33027cr vs 29520cr

2) 9m Loan Sanction up 52% at 94502cr

3) *Total Sanction 174402cr as on 31/12/2016*

4) Finally and most important: Loan Portfolio only 16.81% is Private sector ( where NPAs are higher due to siphoning off of funds leads to bloated project cost). *83.19% is Govt/ public sector which definitely is more safe*

Trading at 0.95xBook, PERatio of 4.60 and HIGHEST DIVIDEND YIELD, PFC can touch 225-250 next year

Dark Horse/Multibagger Idea for 2017/18 

_TRIVENI GLASS LTD_

          9m/CY17 9m/FY16

Sales.      56.30.   42.58

NP.            7.17.    4.46

Equity.      12.62

EPS.          5.68.    3.54

Earlier Tgl was following FY for accounts but recently co has adopted CY.
For 9month/year ended Dec 16, TGL has reported EPS of 5.68.
*Annualised EPS is 7.58*

Outlook:

                 CY17E.  CY18E

Sales.        80.       90

NP.             12.    14.50

EPSRs.      9.50.  11.50

TGL is mfg Figured/Designer glasses used by Interior designers in Offices, Homes, Hotels for doors, partitions, aesthetic enhancement

_Actual holding of promoters is 32%+_

1) TGL had already finalised OTS with IDBI. And has started payments from internal accruals

2)TGL has 72 acres land in Allahabad. Has *already recd  26.85 crores as advance payment* against proposed sale of this land

3) Once co gets written confirmation of OTS from IDBI, co will have +ve  networth

_Stock is tdg @ 2xCY18Eeps_.              

Mktcap just 32 cr.

Very tiny qty of promoter holding was physical. Same under dmat. Once dematting is done, stock will be out of T group.

_TP 100+ in 2018_

Top pick in Dark Horse category. Negligible downside but HUGE upside possible

In this bull run, several vested interests spreading rumour:

1) Ktk bank not going to merge with any other bank

2) Axis Bank big and good enough. Not ailing. Not to merge with Kotak bank

3) Dhanlaxmi bank now doing much better. No question of Dhanlaxmi merging with any other bank

4) Tweets doing round that 25 PSU bank will merge in 6 banks. Rubbish. Same msg was spread last year also
No announcement in this regard from any govt source

Investors should buy any of above stocks only if they find merit in individual stocks and buying decision shouldn't be driven by rumours

NIM to Expand: PFC

Breaking News (One & Only)

Under Section 54EC, Capital gain upto Rs 50 lacs arising from transfer of Long term Capital Assets *becomes tax free* if this capital gain is invested in bonds issued by entities notified by Govt of India. So far, NHAI and REC bonds are eligible.
Recently Govt has issued a notification as per which *PFC also can issue such bonds. It will enable PFC to raise funds at just 5-5.50%*
It will help PFC to lower it's Interest cost and increase NIM

Breaking News:PFC

PFC will shortly convene Board meeting for interim Dividend.
PFC will declare Rs 10 per share as interim Dividend. Record date for same should be before 15th March. Stock has potential to cross Rs 150.

Hence Investors can buy in Cash segment for decent return on short run. Stock is also excellent choice for long term Investors. PFC will also declare final Dividend with Q4 Result. _Total Dividend for FY17 can be Rs 13_                                    

*Can any other stock match such huge Dividend Yield*

PFC can be Rs 225-250 in 2018