The 2014 All-Asia Research Team: India, No. 2: Bharat Iyer & team
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The 2014 All-Asia Research Team: India, No. 2: Bharat Iyer & team

Bharat Iyer & team

J.P. Morgan

First-place appearances: 5

Total appearances: 15

Team debut: 1994

J.P. Morgan notches its 15th appearance on this lineup with its strongest showing since 2000, seizing second place after three years at runner-up. Bharat Iyer spearheads the 16-person, Mumbai-based crew in reporting on 120 Indian stocks. Clients hail the team for correctly forecasting in August that certain undervalued metals producers would soon shift their focus from funding capital expenditures to generating free cash flow. The analysts accordingly launched coverage on four of these companies with overweight ratings: Hindalco Industries, a Mumbai-based aluminum manufacturer; Goa-based iron-ore miner Sesa Sterlite; Steel Authority of India, which is headquartered in New Delhi and among the world’s top steel makers; and Tata Steel, a Mumbai-based multinational steel producer. Through late April the stocks respectively rocketed 49.5 percent, to 143.75 rupees; 49.1 percent, to Rs193.55; 74.2 percent, to Rs71.35; and 72.9 percent, to Rs426.90. Over the same period India’s broad market leaped 20.7 percent. “We made money following their signals,” concludes one fund manager.

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