Vaulting from runner-up to land in the winner’s circle for the first time is the nine-strong Credit Suisse squad helmed by Ashish Gupta in Mumbai. The 39-year-old stands out for his “strong calls on the banking sector, where he’s far ahead of others in understanding the broad outlook,” according to one buy-side backer. The team launched coverage of ING Vysya Bank in April 2011 with a valuation-based outperform rating, at 338.72 rupees. That was premature, but in February 2012, with the shares at Rs333.28, the researchers pounded the table, citing the Bangalore-based full-service lender’s loan growth and rising market share. By late April 2013 the stock had skyrocketed to Rs607.50, gaining 82.3 percent since the reiteration and besting the S&P BSE Sensex index by 72.3 percentage points. Also recommended among the 111 companies the analysts cover: HDFC Bank, a Mumbai-based corporate bank that they believe is well positioned to leverage the country’s rising standard of living. Gupta earned an MBA from the University of Mumbai and worked at a Dubai-based money management firm before joining Credit Suisse in 2009. — Ben Mattlin |
Country & Regions – India: First
