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2016 All-Asia Research Team: India, No. 1: Ridham Desai & team
Morgan Stanley’s squad piloted by Ridham Desai repeats in first place.
Total Appearances: 21
Team Debut: 1996
Morgan Stanley’s squad piloted byRidham Desairepeats in first place. In reporting on 130 Indian companies, the team — based primarily in Mumbai, with a few members stationed in Hong Kong — takes “a fresh approach that consistently challenges conventional wisdom and produces recommendations that reflect optimal risk-reward,” one fund manager remarks. Investors single out for praise the analysts’ long-standing bullishness on Mumbai’s Kotak Mahindra Bank, one of the nation’s top-five private lenders. Since May 2014, Desai and his associates have encouraged clients to overweight the stock, raising their rating from equal weight at that time because they believed that Kotak would benefit from declining volatility in Indian capital markets and rising domestic demand for equities. By late last month shares of the full-service commercial bank had jumped 50.1 percent, to 678.40 rupees, outperforming the domestic broad market by 42.1 percentage points. “Ridham has a great ability to glean insights from heaps of data and has been especially helpful on the financial sector,” attests another supporter. Going forward, the researchers are selectively optimistic. “Our proprietary sentiment indicator, which signaled a strong buy in February, remains in buy territory, and we expect market breadth to improve,” says the 48-year-old crew chief.