< The 2014 All-India Research TeamVenugopal GarreBarclaysFirst-place appearances: 0

Total appearances: 1

Analyst debut: 2014Barclays analyst Venugopal Garre debuts on this lineup in second place and rises from No. 2 to the top position in Capital Goods. He reports on six Indian power stocks with “rigorous attention to detail and a well-seasoned expertise,” as one portfolio manager puts it. Clients single out for praise Garre’s long-standing overweight rating on Power Grid Corp. of India, reiterated in December just ahead of the utility’s follow-on public offering. Through late October the stock advanced 52.9 percent, to 139.80 rupees, and outdistanced the sector by 32.2 percentage points. It remains a favorite, with a target price of Rs149. The researcher’s recommendation to underweight Reliance Power has also proved wise. He has been negative on the Navi Mumbai–based electricity generator since May 2012, when its shares were trading at 93.65 rupees, in part because of project delays. By late last month the stock had tumbled 22.3 percent, to Rs72.75, lagging its peers by 35.2 percentage points. Over the trailing 12-month period, Reliance Power slipped 1.9 percent, against the sector’s rise of 18.8 percent. “He stuck to his guns, and he was right,” attests another booster.