2013-11-tom-johnson-all-india-research-team-nimish-joshi.gif
Nimish Joshi
CLSA
First-place appearances: 2

Total appearances: 3

Analyst debut: 2011

CLSA’s Nimish Joshi tops this roster for a second consecutive year, thanks in part to what one advocate terms his “intellectual honesty — a very rare trait on the Street.” Early signs of recovery in the West are augmenting demand and accelerating revenue growth for his sector, the 32-year-old researcher says, and rupee depreciation is benefiting information technology companies whose costs are denominated in rupees and revenues are expressed in dollars, euros or pounds. “The twin benefits are coming together, and this is a first,” Joshi explains. “Both of these things have never happened simultaneously.” As a result, he is positive on the sector over the next six to nine months and recommends, in particular, Noida-headquartered HCL Technologies. The software-development and engineering services provider is likely to surprise positively on margins and revenue, has a new chief executive who will inspire more confidence over time and trades at a cheap price-earnings multiple, he notes. Joshi also favors Mumbai-based global IT consulting services provider Tata Consultancy Services. “The largest company by far, with scale across different geographies, across different business lines,” he advises, “TCS can keep gaining on that advantage.” In addition, TCS is able to take risks to win new business and can gain market share as its smaller competitors fail, he believes. After spending more than two years in retail banking at Citigroup and less than a year in equity research at Deutsche Bank, Joshi joined CLSA in 2007. He earned a B.E. in computer science from the University of Mumbai and the equivalent of a master’s degree in business administration from the Indian Institute of Management, Calcutta. “He’s a good mix of candor and integrity,” insists another booster. — Carolyn Koo