Dolat Capital has upgraded stance on the Indian market to neutral, led by significant improvement in factors that turned their opinion to negative. Here are a 10 midcap stocks for gains in this volatile market Read more at: http://ow.ly/rg6Sn

1. 10 midcap stocks for gains in this volatile market

2. • Dolat Capital has upgraded stance on the Indian market to
neutral, led by significant improvement in factors that
turned their opinion to negative. According to the brokerage
firm, sharp drop in the gold imports, softening oil prices and
temporary extension of timeline of US tapering has given
enough fire power for the markets to move up sharply. It
feels that current liquidity-led rally will need stronger legs to
sustain. This can be sustained only by growth in
earnings, wider participation of stocks and outcome of the
general election scheduled next year. As the market plays
catch-up, Dolat Cap recommends 10 midcap stocks that you
can buy or accumulate and gain around 33% in the longterm.

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Biocon
Rating: ACCUMULATE
BSE: 532523 | NSE: BIOCON
Target: Rs 399
Upside: 9%
Rationale: Biopharma and contract research segment is
expected to grow by 15% and 21% over FY13-15E. Strategic
partnerships with BMS/Mylan ensures higher visibiltiy in
earnings going forward. Anticipate 24% earnings growth over
FY13-15E.

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Karur Vysya Bank
Rating: BUY
BSE: 590003 | NSE: KARURVYSYA
Target: Rs 430
Upside: 33%
Rationale: Delinquency rates still lower than industry. Decline
in NIM was sharp, expect to improve in 2HFY14.

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Amara Raja Batteries
Rating: ACCUMULATE
BSE: 500008 | NSE: AMARAJABAT
Target: Rs 355
Upside: 6%
Rationale: Huge replacement demand to drive growth. Huge
capex to augur volumes

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Berger Paints India
Rating: ACCUMULATE
BSE: 509480 | NSE: BERGEPAINT
Target: Rs 235
Upside: 2%
Rationale: Gap between Asian Paints and Berger Paints has
widened. Premiumisation strategy has played out well for the
company which has resulted in an improvement in operating
margins.

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Rating: BUY
Indraprastha Gas
BSE: 532514 | NSE: IGL
Target: Rs 344
Upside: 26%
Rationale: Not impacted by change in allocation of domestic gas
to city gas distributors (CGDs) sector. Ability to maintain gross
spreads though the gas cost is increasing. Current price seems
to factoring the extreme negatives of the ongoing legal case
with PNGRB.

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KPIT Technologies
Rating: BUY
BSE: 532400 | NSE: KPIT
Target: Rs 185
Upside: 27%
Rationale: Sustained strong volume traction. Volumes up 2%;
Pricing up 1%. Demand momentum strong across SBUs. EBIT
Margin down in Q2FY14.

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Supreme Industries
Rating: ACCUMULATE
BSE: 509930 | NSE: SUPREMEIND
Target: Rs 448
Upside: 14%
Rationale: Extensive range of products enabling SIL to play
plastic consumption story. Ability to innovate and bring new
plastic products in the market. Brand focus gives pricing power
and increasing share of value added products.

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Ipca Laboratories
Rating: ACCUMULATE
BSE: 524494 | NSE: IPCALAB
Target: Rs 785
Upside: 16%
Rationale: Revenue growth of 20% and EBITDA margin at 2324% for FY14e. Indore SEZ plant to contribute inFY15E.
Institutional business to contribute Rs 4.5bn in FY14E and Rs
5.0bn in FY15e.

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City Union Bank
Rating: BUY
BSE: 532210 | NSE: CUB
Target: Rs 61
Upside: 29%
Rationale: The rise in fresh NPL formations only
temporary, overall asset quality much better than industry.
Agility to hold on to the margins even in turbulent times.

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PI Industries
Rating: ACCUMULATE
BSE: 523642 | NSE: PIIND
Target: Rs 240
Upside: 33%
Rationale: Favorable portfolio mix to aid margin expansion
backed by high visibility in CSM business. Anticipate 32%
revenue growth over FY13-15E. Sustenance of elevated return
ratios likely as new capacities turn accretive.