What's in, what's out on Dolat Capital's preferred buy list

Crompton GreavesExpect recovery in earnings from H2FY15 onwards led by improved performance in the international subsidiaries. Domestic business to be beneficiary of expected recovery in capex cycle.

KPIT TechnologiesWe believe the weak Q1 has set the floor on margins and stock performance. We are in sync with the management view that the weak result was a function of poor execution rather than any challenges on the business momentum.

Larsen and ToubroProxy play on recovery in infrastructure spend in India. Recent correction provides attractive opportunity to enter the stock.

PTC India Financial ServicesAll set to leverage upon the growth opportunities in the renewable energy segment, especially solar power. Current CRAR of 26% sufficient to fuel 2 years of high growth.

Out of Preferred Buy

Asian PaintsThere has been a recent run-up in the stock price and Valuations remain high

Engineers IndiaWith two large potential orders out of the way, near term earnings visibility has deteriorated.

Ipca LaboratoriesWe believe the inspection observation (Form 483) will be an overhang on the stock price in the near term given the uncertainty regarding the timelines for resolution

Karur Vysya BankAn improvement in overall asset quality is likely to be back-ended in FY15. Current valuations do not provide a favourable risk reward trade-off

Maruti Suzuki IndiaThe company is the only pure PV play in the listed space, however the sharp run up in the last couple of months makes valuation look expensive

State Bank of IndiaStress levels still elevated, rich valuations do not offer large upsides. Suprajit Engineering Fundamentals stand intact, however valuations look expensive at current levels

VoltasPotential upside remains capped post the recent run-up. Delayed execution could be a potential threat to the company's targeted margins.

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