Industries: Capital Goods - Second


Manish Saxena Deutsche Bank

Deutsche Bank’s Manish Saxena, who debuts in second, “has a gift for effectively communicating valuable information from many different sources, which is rare,” marvels one backer. In September, Saxena upgraded Grasim Industries from hold to buy, at 2,174.20 rupees, on rising demand for the Nagda-based diversified manufacturer’s growing cement business and stable cash flow from pulp production, as well as the rising demand for its textiles. The stock rose 18.9 percent, to Rs2,585.05, in early April before slipping to Rs2,300.20 by the end of May, weaving a gain of 5.8 percent that bested the sector by 17.9 percentage points.