Dhanlaxmi Bank Ltd:

Conclusions from Joindre Capital report:

1) DBL financials are improving significantly. FY17 PAT 12.38 Cr Vs  FY16 loss of 209 Cr

*FY18E NP 70-80cr*

2)There are only 2-3 account remaining which may show slippage  

3)On the other hand, several account are on recovery                           4) Hence net net DBL asset quality to improve from here                    

5)By raising further capital up to 150 crores through NCD will see further improvement in CAR without equity dilution                      

6)DBL to have more capital available for further expansion    

7)DBL loan book growing in retail segment that too against monetization   

8) Recent tie up with some insurance provider will lift top line          

9)ROI going forward to improve significantly  

10) *Strong take over candidate going forward*  Hence strong buy for target of 100 in one year time frame                     

Will not be surprised too see hitting UC in coming days