BANGALORE: For 2015, the markets should definitely remain upbeat on the back of a strong potential improvement in fundamentals - in particular, recovering asset utilizations and strengthening margins - with a secondary boost from a possible re-rating in valuations.

While the government has started taking its first reform measures - higher foreign direct investment in defence, railways and insurance, diesel price regulation and an ordinance to ease land acquisition by industry - the market has to contend with some external risks as well. 

Let’s have a look at some of the best stocks to buy in 2015:

1. ICICI Bank

ICICI Bank has continued to demonstrate its prowess in improving ALM, maintaining robust liability franchise, managing asset quality risk along with conserving capital. The management’s focus on stable growth with improving structural profitability is likely to continue. ICICI Bank, incorporated in the year 1994, is a Large Cap company (having a market cap of 210,048.93 Crore) operating in Banks sector.

For the quarter ended 30-Sep-2014, the company has reported a Standalone Interest Income of 8874.04 Crore, up 5.74 percent from last quarter Interest Income of 8392.18 Cr and up 14.70 percent from last year same quarter Interest Income of 7736.87 Crore. Company has reported net profit after tax of 2709.01 Crore in latest quarter.

2. Maruti Suzuki

Domestic passenger vehicle industry is expected to do well in the next two to three years. Revival in small car demand and new launches will be the key volume growth drivers for the company. Margins, going ahead, will receive support from reduction in discounts and economies of scale.

The Maruti Suzuki stock is a good bet on the reviving fortunes of the domestic auto industry. With the slowdown behind it, the company is well-poised to record double-digit volume growth in the next two to three years. Maruti’s regained market share, strong product pipeline and improving localization promise better realizations and profit margins. Investors willing to hold the stock for at least two years can buy shares of Maruti Suzuki.

3. L&T

Pace of order intake has been good and should enable the company to meet its order intake guidance for the fiscal. L&T continues to be one of the best plays on infrastructure development in the country. In addition to this, the company would be a major player in upcoming opportunities in Defence, High Speed Rail and Shipbuilding.

L&T Finance Holdings Limited provides various financial products and services for the corporate, retail, housing, and infrastructure finance sectors in India. The company operates in five groups: Retail Finance, Corporate Finance, Housing Finance, Infrastructure Finance, and Investment Management. It offers construction equipment and transportation equipment finance, rural products’ finance, and corporate finance, as well as investment products.

4. HCL TECH

HCL Technologies is a leading global IT services company working with clients in the areas that impact and redefine the core of their businesses. Since its emergence on global landscape after its IPO in 1999, HCL has focused on 'transformational outsourcing', underlined by innovation and value creation, offering an integrated portfolio of services including software–led IT solutions, remote infrastructure management, engineering and R&D services and Business services.

HCL Tech is in the Computers - Software sector. The current market capitalization stands at 111,065.92 crore. The company has reported standalone sales of 4,054.40 crore and a Net Profit of 1,682.56 crore for the quarter ended Sep 2014.

5. HDFC BANK

The HDFC Bank was incorporated in August 1994 by the name of 'HDFC Bank Limited', with its registered office in Mumbai, India. HDFC Bank is headquartered in Mumbai. The Bank at present has an enviable network of over 1416 branches spread over 550 cities across India. All branches are linked on an online real–time basis. Customers in over 500 locations are also serviced through Telephone Banking. The Bank also has a network of about over 3382 networked ATMs across these cities.

DFC has developed significant expertise in retail mortgage loans to different market segments and also has a large corporate client base for its housing related credit facilities. With its experience in the financial markets, a strong market reputation, large shareholder base and unique consumer franchise, HDFC was ideally positioned to promote a bank in the Indian environment.

6. ONGC

Oil and Natural Gas Corporation has been instrumental in transforming the country's limited upstream sector into a large viable playing field, with its activities spread throughout India and significantly in overseas territories.

ONGC is engaged in E&P activities both in Onshore and Offshore. The Corporation is now venturing out to new areas that is deepwater exploration and drilling, exploration in frontier basins, marginal field development, optimization of field envelopment plan field recovery and other allied areas of service sector.

7. SUN PHARMA

Sun Pharmaceutical Industries Limited, a specialty pharmaceutical company, manufactures and markets pharmaceutical formulations and active pharmaceutical ingredients (APIs) in India and internationally. The company offers formulations in various therapeutic areas, such as psychiatry, neurology, cardiology, nephrology, gastroenterology, orthopedics, ophthalmology, diabetology, musculo-skeletal and pain, gynecology, and urology, as well as antiasthamatic and antiallergic.

It also provides APIs comprising anticancers, peptides, sex hormones, and controlled substances. Sun Pharmaceutical Industries reported consolidated earnings results for the second quarter and first half year ended September 2014.