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The 2014 All-India Research Team: Autos & Auto Parts, No. 2: Hitesh Goel
Total appearances: 2
Analyst debut: 2013
Hitesh Goelof Kotak Securities debuted on this list last year as a runner-up and now leaps to the No. 2 position. He reports on a dozen Indian auto industry companies with “the knack of identifying winners,” as one buy-side counterpart says. “His ability to focus on relevant issues and keep noise out of his research advice is most appreciated.” Investors especially applaud Goel’s steadfast touting of Tata Motors. In June 2012 he noted that the Mumbai-based carmaker was enjoying volume growth and increasing its penetration in China, so he upgraded the stock from reduce to buy, at 228.85 rupees. As of late last month the shares had rocketed to Rs519.15, advancing 37.5 percent during the preceding 12 months alone and besting its peers by 3 percentage points. Their gain of 133.5 percent over the life of the call far surpassed the sector’s 87.2 percent rise over the same period. Goel continues to favor Tata Motors, thanks to “new model launches,” he says, and assigns the stock a price objective of Rs575. “His stock calls are timely and prove fruitful,” marvels another fan.