4. HPCL

Hindustan Petroleum Corporation Ltd. is engaged in refining and marketing of petroleum products. It operates two refineries producing variety of petroleum fuels & specialties, one in Mumbai and the other in Vishakapatnam.

Under recoveries for oil and gas distribution companies, which stood 1,40,000 crore in FY14, are estimated to fall to 94,200 crore in FY15 and 72,000 crore in FY16. With under recoveries set to fall, expect interest costs to decline. HPCL’s interest costs will fall further with the completion of the Mumbai and Vizag refinery upgrades.

5. Thermax

Thermax Limited is engaged in providing engineering solutions to energy & environment sectors. Its solutions include; heating equipment, Absorption chillers, Power & captive cogeneration plants, Waste heat recovery units, Solar based heating, cooling & power.

The company has witnessed slow growth through the past few years, owing to slowing industrial activity in India. But things could change for the better, as the economy picks up. The company seems too improved in 2014. It also aims to increase the share of international revenue to the overall figure from the current 26 per cent to 40 per cent.