< The 2014 All-India Research TeamAbhishek TyagiCLSAFirst-place appearances: 0
Total appearances: 1
Analyst debut: 2014In his first appearance on this list, CLSA researcher Abhishek Tyagi captures the No. 3 slot. “An adept stock picker,” as one admirer describes him, Tyagi reports on 15 Indian power companies. Examples of his successful calls include his elevation of Mumbai-based electricity distributor Tata Power Co. from buy to outperform in February, when regulators ruled that the company would be allowed to levy some customers a surcharge to offset additional fuel costs resulting from increased coal prices. Tata Power’s shares had risen 39.5 percent, to 106.05 rupees, by early June — while the sector climbed 31 percent — and Tyagi downgraded them to underperform. Enforcement of the surcharge had been delayed and profits sagged, he noted. Through late October the stock retreated to Rs88.05, trailing its peers by 12.8 percentage points. Also noteworthy, investors say, is the researcher’s coverage of NTPC, a New Delhi–based power plant operator. In May, when its shares were down 21.5 percent over the trailing 12-month period, lagging the sector by 14.7 percentage points, he ascribed the sell-off to an overreaction to regulatory changes and upgraded NTPC from buy to outperform. It had rebounded to Rs146.55 by late October, rising 25.6 percent and besting its peers by 7 percentage points.