THIRD TEAM
 
Unmesh Sharma  Macquarie Capital Securities

Dubbed “a solid fundamental researcher whose forte is identifying good entry and exit points,” Unmesh Sharma lands on the third team. In November, a month after he rejoined Macquarie Capital Securities following a year at BofA Merrill Lynch Global Research, Sharma resumed coverage of Indiabulls Real Estate, downgrading the Mumbai-based developer from outperform to underperform, at 170.20 rupees, on its excessive purchases of high-end residential property in its home city. Sure enough, Mumbai’s real estate prices started to slide — and Indiabulls’ stock plunged 31.1 percent, to Rs117.35, in line with the sector’s decline, through May.