THIRD TEAM

Saion Mukherjee Nomura

Saion Mukherjee of Nomura, who finishes third, is a “true expert,” according to one grateful client. A former chemical engineer, Mukherjee launched coverage of Lupin in November 2008 with a buy rating, at a split-adjusted 107.10 rupees, on the Mumbai-based pharmaceuticals developer’s expansions in Japan and the U.S. In September 2009, when the share price had nearly doubled, to a split-adjusted Rs212.48, he reiterated the buy and raised his target price. By the end of May 2011, the stock price had doubled again, to Rs469.90, for an overall gain of 338.7 percent that outperformed the sector by a mind-boggling 227.4 percentage points. “Saion’s understanding is deep,” cheers one happy investor.