Top stocks for 2015: Religare

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Religare Capital research report.

Ipca Laboratories The domestic business has been a key growth driver for IPCA as the company changed focus from the low margin anti-malarial segment to focus on higher margin chronic/lifestyle diseases. We expect that its US FDA issue with Ratlam facility will be sorted in the next financial year. Therefore, investors can consider the stock with long term investment perspective.

Mahindra and Mahindra The key value driver of M&M will be the new launches where the company is expected to launch 3 products in CY15 (2 SUVs and 1 CV) and an XUV 500 hybrid. Its farm equipment sector is strengthening footprint with a focus on the key markets of USA and China, amongst other regions. We expect an increased demand of utility vehicle and tractor sales with new launches. The HCV industry has also shown a sign of revival and consequently, we expect that M&M HCV volumes will improve along with the improvement in domestic economy.

PI Industries PI’s capacity maintains an optimal utilization due to its strong order book. Also the company is a preferred supplier to the global agrochemicals industry for newly discovered products. The Company commercialized three new molecules for custom synthesis exports, which are expected to gain traction over the next few years. The company also possesses an immense presence in custom synthesis field and its expertise in the complex chemistry puts it in an advantageous position for adding new molecules to its pipeline.

Sundaram Finance The sales of Commercial vehicle are linked to economic growth of the country and auto industry is likely to witness improved sentiments in CY15. The company is expected to continue focus on writing profitable business and maintaining its asset quality, however, the prospects for growth will hinge largely on the policy measures of the new government and speedy implementation of stalled infrastructure projects.

Wipro The company expects multiple opportunity spaces for growth and gaining market share, while the industry landscape is still undergoing change. In H2FY15, it expects good momentum in large deals and better performance. In digital field, it sees immense opportunity and will establish a digital capability which offers a broad based human-centric design proposition, with an architecture directly focused on addressing core customer needs.