Swan Mills looks cheap: SP Tulsian

Swan Mills is looking cheap, says Investment Advisor, SP Tulsian.

Tulsian told CNBC-TV18, "Swan Mills is moving from realty to power generation company because we know this company has been developing its property at Sewri, that is Ashoka Gardens, which was developed by Peninsula which had a 22% share from the sale proceeds but the entire profit has accrued to this company, Swan Energy, earlier it use to be the Swan Mills."
He further added, "The company is owning second property at Kurla, which is the entire building owned by this company and now in the process of selling those two buildings. If you see the process, the company has been selling the property whatever amount they have been realizing is moving for making investment into a gas based power projects, which is a 700 megawatt GSPC Pipavav Power Company Ltd., in which the company is holding close to 49% stake. The company is also converting a 1330 megawatt coal based power project into the 3000 mw gas based power project. So this has becoming a clean energy company and apart from their stake in these two joint ventures the company will be enjoying 70% of the CERC benefits, which will be accrued to both this gas based power project."
"First phase of 700 mw gas based power project will come in soon maybe in the next couple of months and the entire unit will be operational in the next 12 months or so. To source the gas from the international sources, the company is having a floating L&G re-gasification plant as well. Where the storage tank will be mounted on the barges and where it will be floating here at the point of consumption. All this thing makes this company is looking very good."
"Promoter