Ashish Gupta | Credit Suisse | First-place appearances: 0
Total appearances: 3
Analyst debut: 2011 |
Rising to second place after two years at No. 3, Ashish Gupta has the best knowledge in the sector and a lot of conviction in his ideas, applauds one portfolio manager. In a July report titled When Easy Money Ends, the Credit Suisse analyst advised that given the Reserve Bank of Indias recent reversal of its easy-money stance, investors should avoid wholesale-funded banks with high valuations because they would experience the strongest impact of that central bank about-face. They will be forced to curb asset growth in addition to facing margin pressures, he wrote. Accordingly, at the same time, Gupta highlighted his January 2010 sell rating on Mumbai-based Yes Bank, some 76 percent of whose deposits are short term. The shares cratered 33.8 percent, to 331.10 rupees, through mid-October, and underperformed the sector by 22.4 percentage points. The analyst is sticking with his position. Given high inflation, he notes, the RBI wont be able to move to an easy-money stance even as it unwinds some of the measures undertaken to stabilize the currency. Katie Gilbert |