Top Equity Research Companies in India- Detailed List

So, in this article I will show enumerate the complete list of equity research companies in India. Also will cover not just the Top equity research firms in India from the broking side but also Kpo’s. So let’s get started.

Category of Equity Research Firms in India

So there are multiple ways to look at these companies however, let me categorise it on the basis of;

  • Tier 1 – Equity Research firms in India
  • Tier 2- KPO based
  • Tier 3- Boutique equity research companies

Tier 1 Equity Research Companies in India

So let me first start with the most premium and sought after companies to work with in this field. And first in my list is

  • Crisil Global Equity Research

Now, Crisil is a one of those companies in this business for decades. In fact it still is one of the top employers from Ivy League b schools in India.

Now generally speaking in case of Crisil, you should either be from

  1. Ivy League top 10 b -schools
  2. CFA level 2 & above
  3. Or A chartered accountant

and this criteria is very stringent only for global equity research, not other business’s of Crisil.

Crisil Equity research Interview Questions

  • Transparent Value

Based out of Mumbai, transparent value is another premium name in this business. However, in terms of the scale of hiring, this might not be that common. However the research experience you can get working with them is just awesome.

Generally category of people they hire:

  1. CFA’s,CA, MBA’S
  2. Graduates

Now the interesting thing about transparent value is that they are not very stringent on qualifications alone.

  • Evalue serve

Another crown in India which specialises in research is EVS, as it is popularly known. EVS can be a difficult gate to open, when you apply. Majorly because of their entry level requirements.

Generally speaking the following background is acceptable at EVS;

  1. CFA,CA’S, MBA’s(Top 10)

Rarely have I seen graduates being entertained here for interviews. Which I think is not because of their policy but because of their client requirements.

Also check out our equity research interview question blog

Tier 2 KPO Based Top Equity Research Firms in India

Now, in this category I will discuss the companies that hire all kinds of people. Moreover, you also need to remember that these firms might not be directly in research. However, it would still be relevant and value to freshers to start their journey with these firms.

  • Visible Alpha

Based out Mumbai and NCR region, visible alpha hires wide variety of candidates. However, their work is not directly related to equity research but related to a platform. The platform is a research application, which uses existing research models to update the information to the user.

visible alpha equity research firm

  • Daloopa

Daloopa is also based out NCR region and their research primarily covers the real estate asset. Another place where you can kick start your career with normal and average qualification. However, do note that the entry level test is 120 questions related to financial statement analysis. Which is not a cake walk at any cost.

Tier 3- Boutique equity research companies

Finally moving into the final category of top equity research firms in India, with minimal requirements. Note that I call these as tier 3 not because the work is tier 3 but because of the compensation.

Generally speaking Tier 3 boutique research firms tend to pay 3.5 to 4 LPA for a fresher. However, the benefit is that, the experience is priceless. In fact, with these firms you learn much faster than the more established companies. Let me list down some very well known names;

  • Avendus Capital
  • Puranrtha Investment Advisors
  • Gallaghar and Mohan
  • Equities capital advisors
  • Moxie capital


Equity research is an exciting career for those who are intellectually inclined towards business. Also if you wish to learn the requisite skills for this industry, then you can pursue the Equity research course by mentormecareers, which guarantees interviews .Also is one of the most highest reviewed live courses in research.