THIRD TEAM
 
Malvika Gupta  J.P. Morgan

In third place is J.P. Morgan’s Malvika Gupta, who moved from London to Mumbai in June 2010. Two months later the analyst launched coverage on Idea Cellular with an underweight rating, at 72.65 rupees, noting that the Mumbai-based mobile communications provider had won contracts that May to provide 3-G services in only 11 of India’s 22 telecom zones, whereas competitors Bharti Airtel and Reliance Communications each had won the rights to serve 13 zones. Gupta’s recommendation yielded mixed results. Idea shares sank as low as Rs57.55 in late February before rising on news that the company was poised to begin its 3-G rollout; the stock had advanced to Rs68.65 by the end of May, for a length-of-call loss of 5.5 percent that lagged the broad market by 5.8 percentage points but trounced the sector by 43.1 points. Still, Gupta “is an up-and-comer to watch,” insists one loyalist.