Improvement in scale of business

Leading brokerage house, Religare has recommended buying the stock of Prestige Estates.

The brokerage feels that Prestige Estates has improved its scale of business, which is reflected in its sales/launches. "A strong launch and delivery plan coupled with equally strong unbilled revenue and receivables should mean good operational numbers through FY15. This coupled with improving macro conditions has led us to value PEPL at NAV (vs. 20% discount earlier). Maintain BUY with a new Mar'15 TP of Rs 220 (Rs 195 earlier)," the firm has stated.

Target price of Rs 209

Emkay Global has put a buy rating on Godawari Power. The firm has noted that at the CMP of Rs 162, the stock trades at 2.9x FY16 EPS and 3.7 FY16 EV/ EBITDA.

"The stock has gone up recently and some near term concerns are there with respect to pellet production, lower PLF in solar power business etc. However, prospect in FY16 seems much better due to commencement of new mine. We roll over our valuation to FY16 and value the stock at 4xFY16 EV/ EBITDA. Maintain Buy with a target of Rs 209," the firm has stated in its research report.

Realisation expected to improve

ICICI Direct has a "buy" call on Mcleod Russell. "With realisations expected to witness healthy growth in FY15E and FY16E along with higher sales volume for MRIL, we believe earnings growth would gain traction. Hence, we value the stock at 10x FY16E EPS, arriving at a target price of Rs 326", the firm has stated in its research report.

Target price of Rs 196

Brokerage House Prabhudas Lilladher has an accumulate rating on Jubilant Lifesciences. "We expect operating margin of the company would be increased by 200‐250bps in FY15E‐16E. Price competition in Methylprednisolone remains stabilised while launch of new molecules would drive generic sales in US and EU in FY15E. With double capacity and better product stabilisation, the company expects better revenue traction from Symtet sales in FY15E. We maintain ‘Accumulate' and increased TP to INR196," the firm has stated in its research report.

A strong pipeline

Firstcall Research has a price target of Rs 500 on Sobha Developers. "With a strong pipeline of proposed new launches, we expect the Company sales to gain momentum in the coming few quarters. Over FY2013-16E, we expect the company to post a CAGR of 13 and 10 percent in its top-line and bottomline respectively. Hence, we recommend ‘BUY' for ‘SOBHA DEVELOPERS LTD' with a target price of Rs. 500.00 for medium to long term investment," says Firstcall Research report.