The Sensex is just about three hundred points away from hitting a record 30,000 points. As we write the markets keep scaling new highs. It's extremely difficult to find cheap buys at the current levels as share prices keeping scaling new highs.

1) Hindustan Zinc

Firstcall Research is bullish on Hindustan Zinc and has put a buy rating on the stock. The firm feels that there is still much upside left for the stock.

''At the current market price of Rs 165.90, the stock P/E ratio is at 8.08 x FY15E and 6.88 x FY16E respectively. Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.20.53 and Rs.24.13 respectively," the firm has said in its research report.

2) Dish TV

Motilal Oswal is bullish on Dish TV. "Dish TV is DITV trades at 9.3x FY16 EV/EBITDA, close to multi-year low valuations. We revise our DCF based target price from INR75 to INR90 led by increased medium-term growth assumptions, lower risk free rate, and rollover to March 2016. Maintain Buy", says Motilal Oswal research report.

3) Ultratech Cement

Prabhudhas Lilladher is bullish on Ultratech Cement. The firm has set a price target of Rs 3700 on the stock.

"Street is extremely enthusiastic on the sector due to steep price hikes undertaken by the producers in last couple of months. On the contrary, we weigh little significance to these hikes due to lacking support from demand.

However, we see the price hikes to become more constructive Q1FY16 onwards when demand would start recovering gradually on the back of lower interest rates, lower inflation and most importantly, series of initiatives undertaken by the Govt to revitalise the investment cycle. In this backdrop, we like UTCEM on the back of its strong scale of operations and quality management. We maintain our ‘Accumulate' rating with TP of Rs 3,700", says Prabhudas Lilladher research report.

4) Shriram Transport Finance

Kotak Securities is bullish on Shriram Transport Finance Corporation. The firm has set a target price of Rs 1250 on the stock. With NBFC's now the flavor of the season an upside in the stock cannot be ruled out.

5) Gabriel India

Karvy Broking is bullish on Gabriel India. "Gabriel's expanding presence in new geographies along with higher expected demand from domestic OEMs would result in higher growth in revenues whereas significant reduction in debt aid profitability. We expect the company to register higher growth in earnings and return ratios in the coming years. At CMP of Rs 100.7, the stock trades at 11.6x FY17E EPS, we initiate coverage on Gabriel with a 'BUY' recommendation and value at 16.3x FY17E EPS with a target price of Rs 142", says Karvy Stock Broking research report.

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