THIRD TEAM

Princy Singh  J.P. Morgan

In third place is J.P. Morgan’s Princy Singh, whose “honesty and integrity are especially important in the midcap space,” according to one buy-side backer. Singh initiated coverage on Jain Irrigation Systems, a sprinkler manufacturer headquartered in Jalgaon, in August 2010 with an underweight rating, at a split-adjusted 253 rupees. After surveying farmers, Singh concluded that Jain management was overstating the growth potential of its microirrigation systems. Sure enough, sales lagged. At the end of April, the company reported that net profit for the first three months of the year slipped 6.9 percent, to Rs1.09 billion ($24.1 million), compared with the same period one year earlier; a month later, Jain’s stock had tumbled 33.2 percent, to Rs169, and underperformed the sector by 25.3 percentage points.