< The 2014 All-India Research Team

Total Appearances: 4

Analyst Debut: 2011For the first time since 2011, Sanjay Mookim of Credit Suisse wins the top spot on this roster, rising from No. 2. The 36-year-old researcher, who reports on a dozen Indian oil and gas names from his base in Singapore, is “good at deciphering stock price drivers,” avers one portfolio manager. Last autumn, Mookim turned positive on Bharat Petroleum Corp. He had for years assigned the stock an underperform rating, but advising that the Mumbai-based exploration and refining giant boasted a superior ability to maintain a high return on equity and generate cash flow, in September 2013 he boosted the shares to outperform. Within days they reversed a downward trend, and by late last month had rocketed 118.3 percent, to 688.75 rupees, far outdistancing the sector’s 16.3 percent gain. Bharat Petroleum remains on his recommended list, with a target price of Rs840. In May the analyst changed course in the other direction on state-owned exploration and production company Oil and Natural Gas Corp. of New Delhi. Since his August 2013 upgrade from neutral to outperform, which was based in part on his belief that fears of a drop-off in government subsidies were unfounded, the stock had bested the sector by 13.9 percentage points, leaping 42.1 percent, to 367.89 rupees. He deemed the shares fairly valued and foresaw a slowdown in production. In addition, Mookim reasoned that anticipated implementation of industry reforms would benefit downstream players sooner and more significantly than ONGC, so he downgraded the shares back to neutral. They were trading at Rs399.45 in late October. “Sanjay’s views are well-balanced,” observes another advocate, “and his earnings analyses quite accurate.”