Mr. Anwani, who works at Mumbai-based Kantilal Chhaganlal Securities Pvt., said his best calls were on regional real-estate companies Sobha Developers Ltd. —which rose 92% under his buy call last year—and Housing Development & Infrastructure Ltd, which he rated a buy throughout the year as it more than doubled.

Courtesy of the analyst

Mr. Anwani covers midcap companies, with a focus on capital goods, real estate and construction. His other winning picks in 2012 included Cummins India Ltd., a unit of U.S.-based Cummins Inc., and engineering and construction firm Supreme Infrastructure India Ltd. They returned 51% and 56%, respectively, during the year.

Mr. Anwani attributes his success as a stock picker to detailed study of the sectors he covers. He said he prefers companies with a unique business model that has an inherent competitive advantage, sound financial parameters and quality management.

He expects the sectors he covers to perform well in 2013 as the central bank cuts interest rates, and adds that activity in those sectors could heat up if the government announces—as many expect it to—a number of infrastructure projects ahead of the 2014 general elections.

Still, he plans to pick stocks rather than sectors this year, and his favorite pick remains Sobha Developers, which he sees as a safe bet due to its strong position in the South India market, marquee clients and good execution record. The stock should deliver returns of around 30% this year, he said.

Among others, he also likes road construction company IRB Infrastructure Developers Ltd.and supermarket and shopping chain developer Phoenix Mills Ltd.

Moving forward, Mr. Anwani, who previously worked for a U.S. hedge fund, plans to expand his coverage to include banking.