SECOND TEAM

Manish Karwa Kotak Securities

Manish Karwa, who captures second place, “is an example of the perfect balance between fundamental research, stock calls, written reports and conference activity,” marvels one advocate. In July 2010 the Kotak Securities researcher pounded the table on midsize public banks as likely recipients of a government stimulus initiative to recapitalize lenders with low cash resources. He singled out Bank of Baroda as a bargain, at 716.05 rupees, and it proved to be good advice. Shares of the Gujarat-based institution surged 20.4 percent, to Rs862, and bested the sector by 12.3 percentage points, through May.