< The 2014 All-India Research Team
Total Appearances: 4
Analyst Debut: 2011Advancing one notch to return to the winner’s circle he most recently occupied in 2011 is Jefferies’ researcher Govindarajan Chellappa. “I trust Govindarajan’s views,” declares one admirer. “We have made money following his calls.” One example of the 38-year-old analyst’s winning stock picks, investors says, is his June 2012 upgrade of New Delhi–based automaker Maruti Suzuki India. Citing rising demand, especially for its diesel products, and deeming the manufacturer a beneficiary of the weak currency thanks to its significant export business, Chellappa boosted Maruti Suzuki from hold to buy, at 1,103.34 rupees — and he has maintained that stance. Over the 12 months ended in late October, the shares catapulted 110.8 percent, to Rs3,177.20, besting their domestic peers by 76.3 percentage points. “Govindarajan’s long-term perspective fits the way we invest,” says another portfolio manager. Chellappa actively tracks seven Indian autos and auto parts companies, and another of his favorites in the group is Mumbai’s Tata Motors, which makes cars and commercial vehicles. Its shares have been unfairly beaten down because of overblown concerns regarding its exports to China, he advises. Moreover, he expects a sustained recovery in the domestic truck market to be a boon to Tata Motors. So in September he elevated the stock from hold to buy, at Rs516.25. It had moved little by late October, but Chellappa believes that a price of Rs627 is justified.