< The 2014 All-India Research Team
Total Appearances: 3
Analyst Debut: 2011Barclays researcher Venugopal Garre advances one position to claim the No. 1 spot on this list for the first time, dethroning three-time sector leader Lokesh Garg of Kotak Securities, who slips to No. 2. Garre, 36, also earns his first appearance on the Power roster this year, in second place. Hailed for “keeping us abreast of trends, which has been especially important in light of the elections,” as one portfolio manager puts it, the analyst monitors 11 Indian capital goods companies. Among his favorites is Havells India, a Noida-based electrical-products manufacturer. In January 2013 his channel checks with distributors revealed steady demand trends that he believed would benefit Havells India, so Garre upgraded the stock from equal weight to overweight, at a split-adjusted 136.11 rupees. Over the 12 months through late October, it soared 95.5 percent, to Rs273.40, beating the sector by 40.5 percentage points. He projects that it will advance to Rs318. Also garnering client accolades is his coverage of Mumbai-based power manufacturer of electric power transmission towers KEC International. In October 2013, citing rising orders and a recovery in the company’s earnings margins, the researcher reiterated his overweight stance. A year later the shares had more than tripled, rising to Rs108.10, while India’s basic materials shares jumped 55 percent. Garre covered this sector for Credit Suisse before moving to Barclays in October 2011. He holds an MBA from the Indian Institute of Management, Lucknow, and a bachelor’s degree in technology from the Technological Institute of Textile & Sciences in Bhiwani. “His good sense of the pulse of the industry leads to good stock calls,” offers another supporter.
