ONGC ( 190) - STILL A BUY

*Extremely Bullish Above 194: TP 210 coming soon*

Now,Closed Abv 200 Dma.
Stoploss 183 On Cl Basis.

*Target 199--212-229

Denofwealth Technicals

*33000 CR SURGE IN LOAN BOOK*

POWER FINANCE CORPN

As per Denofwealth reliable estimates, Loan Book of PFC as on 30th September 2017 stands at *whopping 2.19 lac Crores Vs 1.86 lac Cr YoY*

Further, _PFC can raise 1 billion dollars via Masala Bonds (3.75-4% coupon rate)_. Roadshow for same can begin very soon. Will help PFC to raise NIM

This Navratan PSU most Undervalued

*85000 Ton Paper+216Key Hotel*

_MAGNUM VENTURES LTD_: Likely MULTIBAGGER

                  Q1FY18

Sales.              65

Depreciation 3.53

NP.                   0.24

Equity.           37.60

Paper division contributed 54 Cr to Sales                            

MVL doesn't have good track record. However stock is worth buying at cmp as Post GST, promoters will be forced to be investor friendly:
1) MVL has 216 key hotel on outskirts of Delhi known as COUNTRY INN. In hotel industry, it was not uncommon to take CASH payment for banquet functions. It was double whammy for hotel bottom line as F&B purchase in co a/c but revenue nil. Now, it has become nearly impossible. Hence, hotel division of MVL should stop incurring losses

2) Paper Division: Paper industry too had significant cash sales.  Now paper division 85000 tonnes of MVL can have hugely improved margins

3) Paper plant has 10acres land, of which only 5acres is occupied. On outskirts of Delhi

4) Finally, *once transfer of debt to ARC and 50% haircut* is formally announced by co, stock will stand RERATED

Current mktcap is half of 2017 high and tiny by any yardstick. This microcap has favourable Risk-to-Reward ratio.

We will not be surprised if MVL quotes in 3 digits in 2019(Investors may be reminded that we had advised buy on Star Paper at Rs 7 in 2014)

BIGGEST ASSET UPGRADE IN NBFC INDUSTRY 

   *47% NPAs become Standard*

_POWER FINANCE CORP_

~I am happy to inform you that out of 23309 crore NPAs about 11000 crore have already got upgrade w.e.f. 15th July~

Above is excerpt from speech of Chairman at recent AGM

With 47% NPA assets becoming standard in Q2, Asset quality of PFC has made huge improvement.

_Gnpa Nnpa in Q2 no's should be substantially lower and Analysts would upgrade PFC_

PFC is an excellent buy and most Undervalued NBFC as it is still much below its 2017 high of 170

*BRENT CRUDE TOPS $60 FIRST TIME SINCE 2015*

ONGC biggest beneficiary. Stock poised to scale new 52week High

BREAKING NEWS

*Q2 ONGC*

As per DOW TIMES estimates, ONGC can deliver outstanding no's:

1) Q2 PAT can *spurt 20% YoY* as PAT can be 5100+ Crores Vs 4232 Crores

2) *QoQ jump can be 30%* as PAT for Q1 was 3884 Cr Vs DOW TIMES estimate of 5100+ Cr for Q2
In view of firm outlook for crude prices, mgtmnt commentary should be positive

TP 200+ in near term