Gautam Chhaochharia & team
UBS
Gautam Chhaochharia guides the UBS squad to a second straight appearance in third place. The researchers “keep tabs on interesting midcap companies in India with a level of depth that is unparalleled on the Street,” proclaims one client. The group added three members last year, bringing its total to nine, and covers more than 70 stocks from headquarters in Hong Kong, Jakarta, Manila, Mumbai, Shanghai, Singapore and Taipei. “The sector as a whole is trading at near-historical valuation gaps when compared to the large-cap universe,” says Chhaochharia. Even as the analysts’ outlook is generally positive, “our focus is on [generating] bottom-up ideas rather than looking at stocks from a sector approach,” he explains. Exide Industries is a top pick; the India-based battery maker has recently unveiled cost-cutting initiatives to offset margin pressure from declining demand. “The stock has a great industry structure and business, with the markets pricing in the last two years’ disappointments as continuing,” the team leader says. Exide’s shares were trading at 132.70 rupees in late April; the UBS crew has a target price of Rs165. — Pam Baker