< The 2014 All-India Research TeamVipul PrasadMorgan StanleyFirst-place appearances: 0

Total appearances: 2

Analyst debut: 2012After a year’s absence from this list, Morgan Stanley analyst Vipul Prasad returns in second place, marking his strongest showing to date. Of the nine Indian basic materials companies he monitors, Tata Steel has been a top pick since October 2013. Management of the Mumbai-based integrated steel producer, he argued at the time, was taking steps to consolidate its balance sheet, reduce costs and drive earnings. The restructuring he predicted came to pass, and by late last month the stock had leaped 53.8 percent, to 457.15 rupees, outdistancing the sector by 28.3 percentage points. He foresees additional upside, citing rapid volume growth and declining capital expenditures, and pegs Tata Steel at Rs480. On a similar theme, Prasad also favors New Delhi–based Steel Authority of India, because he expect’s management’s recent modernization program to deliver cost savings. “Vipul drills down deep into individual companies for differentiated valuation matrixes,” observes one investor.