Firstcall Research recommended Buy on JMC Projects (India) with target price Rs 181 against market price Rs 160 for medium to long term investment in its report.

Commenting on investment rationale, the stock broker said, "The company’s net sales registered 10.96% decrease and stood at Rs 6,025 million from Rs 6,766.90 million over the corresponding quarter of previous year. In Q1 FY15, net profit increased to Rs 42.90 million an increase of 28.83% against Rs 33.30 million in the corresponding quarter of previous year. Earnings per share (EPS) of the company for the earnings for FY15E and FY16E are seen at Rs 9.98 and Rs 12.15 respectively. On the basis of EV/EBITDA, the stock trades at 4.82 x for FY15E and 4.47 x for FY16E. Price to Book Value of the stock is expected to be at 0.87 x and 0.81 x respectively for FY15E and FY16E."

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