Amit Rustagi
Antique Stock Broking
First-place appearances: 0

Total appearances: 1

Analyst debut: 2013

Amit Rustagi of Antique Stock Broking debuts in third place. Covering 12 oil and gas names and seven utilities, Rustagi has increased his travel over the past year, “improving client interactions around corporate visits,” he says. Clients appreciate the extra effort. “Amit is hardworking and well networked,” attests one fund manager. In November 2012 the researcher directed investors’ attention to two Mumbai-based refiners and marketers of crude oil. He downgraded Hindustan Petroleum Corp. from buy to hold because its earnings were soft, he believed, and pounded the table on rival Bharat Petroleum Corp., citing its recent oil discoveries in Brazil. By the middle of October, Hindustan’s shares had fallen 30 percent, to 184.55 rupees, and Bharat’s had risen 13.1 percent, to 343.10 rupees. During the same period the sector advanced 5.8 percent. Bharat remains a favorite, largely thanks to its “valuable international [exploration and production] opportunities,” says Rustagi. — Ben Mattlin