Vishal Advani

Batlivala & Karani Securities India Pvt Ltd. (B&K Securities) is an independent brokerage firm headquartered in Mumbai, India. Founded in 1998, B&K Securities offers investment and financial services such as equity, debt, currency and derivatives research, sales and trading for institutional and corporate clients.

Antique Stock Broking Ltd. is the broker/dealer subsidiary of Investment Trust of India Ltd. (NSE: THEINVEST) in India. Headquartered in Mumbai, the firm offers Equities and Derivatives broking services to high net-worth individuals and institutional investors.

SBICAP Securities Ltd. (SSL) is the wholly-owned brokerage subsidiary of SBI Capital Markets Ltd., itself a subsidiary of the Indian Government's State Bank of India (BOM: 500112, NSE: SBIN). The firm was created in 2006 to take over the broking operations of SBI Capital Markets Ltd., which was founded in 2001. Headquartered in Mumbai, SSL provides broking services to a range of investors including financial institutions, FIIs, mutual funds, banks, corporates, high-net worth individual, non-residential investors and retail Indian investors. Its broking product range covers Institutional and Retail Equity, Derivatives, Depository Participant services, On-Line trading and a wide variety of Third Party Distribution products.

Nirmal Bang Equities Pvt Ltd. is the brokerage subsidiary of Nirmal Bang Financial Services in India. Headquartered in Mumbai, the firm was founded in 1986 and offers corporate houses and institutions dealing capabilities on India stock exchanges (NSE and BSE) in the cash and derivatives segments. This unit has devised a process driven approach to address the needs of institutional clients who have unique and specialized investment needs. Their specialized services consist of the most experienced market professionals and Institutional Broking Services are backed by an insightful research team who provide the most in-depth reports on the markets.

Anand Rathi Financial Services Ltd. (ARFS) is an independent securities brokerage firm headquartered in Mumbai, India. The firm was founded in 1994 as Anand Rathi Securities Ltd. ARFS provides Indian equities trading capabilities in the mid and small-cap companies to institutions, corporations, high net-worth individuals and families.

Part of Centrum Capital Ltd., Centrum Broking Ltd. is an Indian brokerage company. The company is based in Mumbai, India. The company was founded in 1977. Nischal Maheshwari has been the CEO of the company since 2018.

Prabhudas Lilladher Pvt Ltd. (PL) is an investment research firm headquartered in Mumbai, India. The firm was founded in 1983 and provides various global equity research reports for institutional and retail clients. PL covers over 150 stocks that span across 20 mid and large sectors. Their Research Desk is comprised of dedicated teams for technical and fundamental research, conducting painstaking research to beat the market time and again. The lab has internally developed analytical tools and models that have consistently provided clients with an edge over the market. The findings of the research team take shape in the form of their various daily, monthly and quarterly; fundamental & technical research reports.

JM Financial Institutional Securities Ltd. (JMF-IS) is the securities arm of JM Financial Services Ltd., which is owned by JM Financial Ltd. (NSE: JMFINANCIL), an integrated financial services group based in India. Headquartered in Mumbai, the firm was founded in 1995 as ASK-Raymond James & Associates Pvt Ltd., a joint venture between India-based ASK Investment and Financial Consultants Ltd., US-based Raymond James Financial, Inc. and Bharat Shah. JMF-IS provides trade execution services as well as research and analysis with a strong focus on the Indian economy. Their clients are domestic and offshore institutions, high-net worth individuals and non-resident Indians.

IDBI Capital Markets & Securities Ltd. (ICMS) is the brokerage subsidiary of IDBI Bank Ltd. (NSE: IDBI). The firm is headquartered in Mumbai. ICMS provides brokerage services to their clients.

Ambit Capital Pvt Ltd. (Ambit) is a brokerage firm headquartered in Mumbai, India. The firm was founded in 2005 and is a subsidiary of Xero Ltd. (ASX: XRO) in New Zealand. Ambit provides customized execution services to family office, HNIs and professional investor clients. They offer innovative tactical trade ideas for special situations, Futures & Options and derivative trading, hedging strategies, block trades and Interest Rate Futures.

Systematix Shares & Stocks (India) Ltd. is the securities brokerage subsidiary of Systematix Group in India. Headquartered in Mumbai, the firm provides broking services to an array of clients such as Foreign Institutional Investors, Domestic Financial Institutions, Insurance Companies, Bank Treasuries, Corporates, Corporate Treasuries, Promoters, Ultra HNIs, HNIs and retail investors.

ICICI Securities Ltd. (Broker) is the brokerage division of ICICI Securities Ltd., a subsidiary of ICICI Bank Ltd. (NSE: ICICIBANK) in India. Headquartered in Mumbai, the firm was founded in 1995 and offers retail trading and investment services for corporates, financial institutions, high net-worth individuals and retail investors.

Evalueserve.com Pvt Ltd. (dba Evalueserve) is an AI-enhanced managed services global provider headquartered in Gurgaon, India. The firm was founded by Alok Aggarwal and Marc Vollenweider in 2000. They are owned by Evalueserve Holdings AG in Switzerland. More than 30% of the Fortune 1000, which includes over 25,000 platform users, rely on Evalueserve’s intelligence and analytics to strengthen and accelerate decision-making. Their solutions uniquely combine expert services with domain-specific AI and have been recognized by analysts such as Forrester and Chartis. Evalueserve’s solutions include data analytics, insights and advisory, intellectual property and R&D, investment banking services, lending services, private equity services, and risk and compliance. These solutions are powered by Evalueserve’s modular AIRA (AI for Research and Analytics) ecosystem, which includes domain-specific accelerators, products, and platforms. Evalueserve experts use these tools to reduce time to value and integrate new solutions into existing workflows. Notable products and platforms include Insightsfirst, Insightloupe, Publishwise, Spreadsmart, and Compsbuilder. The firm supports three categories of firms: financial services, corporates, and professional services. Specifically, this includes Investment Banks, Corporate and Commercial Banks, Asset and Wealth Management Firms, Private Equity and Venture Capital Firms, Index Providers, Technology and Telecom, Life Sciences and Healthcare, Manufacturing and Industrial Goods, Energy, Chemicals, CPG and Retail, Logistics and Transportation, Professional Service Firms, Consultancy and Advisory Firms, Legal Firms, Real Estate Firms, Education and EdTech Firms.

Motilal Oswal Securities Ltd. (MOSL) is a diversified brokerage firm headquartered in Mumbai with an extensive network of branch offices throughout India. The firm is a subsidiary of Motilal Oswal Financial Services Ltd. (NSE: MOTILALOFS). MOSL provides research-based brokerage services that covers equity and derivatives. Their clients are international institutions from the US the UK, Hong Kong and Singapore, as well as corporations, high-net worth individuals and retail investors.

Dolat Capital Market Pvt Ltd. is an independent brokerage firm headquartered in Mumbai, India. The firm was founded in 1970 to offer equity research services, trade execution and settlement (equities and derivatives) to institutional clients. They specialize in the Indian mid-market coverage across sectors.

Part of Morgan Stanley, Morgan Stanley India Co. Pvt Ltd. is an Indian financial services company that has been operating for 25 years. The company is based in Mumbai, India. The company offers various services and career opportunities, and its employees bring innovative solutions to every role they tackle. Additionally, the company has an Inclusive Ventures Group that aims to broaden access to capital for underrepresented innovators and spotlight their successes. Aisha de Sequeira has been the CEO of the company since 2008.

KPMG India Pvt Ltd. provides accounting services. It specializes in risk consulting, strategic alliances, deal advisory, infrastructure advisory and government advisory services. The company was founded in September 1993 and is headquartered in Bangalore, India.

InCred Research Services Pvt Ltd. (InCred Research) is an investment research firm headquartered in Mumbai, India. The firm was founded by Devesh Kumar and Bhupinder Singh. They are a subsidiary of InCred Financial Services Ltd., which is ultimately owned by KKR & Co., Inc. (NYSE: KKR) in the US. InCred Research provides equities research and trading services in Indian companies to clients across Institutions/Corporates, Ultra-High/High-Net-Worth Individuals and Small and Medium Enterprises.

UBS Securities India Pvt Ltd. is a broker-dealer headquartered in Mumbai, India. The firm was founded in 1996 and is a subsidiary of UBS AG, which is owned by UBS Group AG (SWX: UBSG; NYSE: UBS) in Switzerland. UBS Securities India provides stock broking services to corporate, institutional and wealth management clients.

Vodafone India Ltd. engages in the provision of wireless telecommunications services. Its products include postpaid, prepaid, world and home calling cards, and handy phone. The firm'sservices include mailing, messaging, bill info, and dial in services. The company was founded in 1994 and is headquartered in Mumbai, India.

MIB Securities India Pvt Ltd. (MIBSI) is the brokerage subsidiary of MIB Securities India Pvt Ltd., an investment bank headquartered in Mumbai, India. The firm is a wholly-owned subsidiary of Maybank IBG Holdings Ltd., which is ultimately owned by Malayan Banking Bhd. (KLSE: MAYBANK; OTCMKTS: MLYBY) in Malaysia. Founded in 2007, MIBSI provides retail and institutional securities broking, equity financing, derivatives and prime brokerage to institutional clients.

Part of IndiaNivesh Ltd., IndiaNivesh Securities Ltd. is a Mumbai-based company that offers online share trading, financial updates, and a range of investment options such as equities, mutual funds, commodities, currencies, private equity, and portfolio management services. The company provides tailored brokerage solutions and advisory services, and clients can access their online share trading account from their mobile, tablet, and desktop. IndiaNivesh Securities also offers research reports on different financial products such as equity, mutual fund, commodity, and currency. The company was founded by Dinesh Kumar Nuwal, who has been the CEO since incorporation. IndiaNivesh Securities was acquired by Sanyei Corp. Ltd. on February 02, 2006 for $1.13 million.

HSBC InvestDirect (India) Ltd. provides financial services. The firm though its subsidiaries offers securities broking, investment advisory, financial products distribution, portfolio management and securities related financing services for retail and corporate customers. The company is headquartered in Mumbai, India.

Part of Grant Thornton International Ltd., Grant Thornton India LLP is an Indian company that provides accounting services. The company is based in New Delhi, India.

Nuvama Wealth Management Ltd. (Nuvama) is the securities brokerage subsidiary of Edelweiss Financial Services Ltd. (NSE: EDELWEISS) in India. Formerly known as Edelweiss Securities Ltd., the firm is headquartered in Mumbai and provides brokerage services to global and domestic institutional investors. Nuvama offers perspective and fundamental research on economic issues, emerging themes and strategic analysis. They cover more than 250 stocks across 25+ sectors. Their trading desk offers multiple platforms that enable seamless execution of complex trades, across the entire gamut of trading strategies.

Equirus Capital Pvt Ltd. is an investment bank based in Mumbai, IN. and has subsidiaries in India. The private company was founded in 2007 by Ajay Garg, who has been the CEO since 2007. The company's expertise in structuring and delivering transactions tailored to client needs sets them apart, and they provide proven solutions to maximize investments. Equirus has established a reputation and market presence across domains, offering expert advisory for growth, capital, and wealth management.

First Global Stockbroking Pvt Ltd. (FGS) is the brokerage subsidiary of First Global. Headquartered in New Mumbai, the firm was founded by Devina Mehra and Shankar Sharma and provides investment analysis to their clients.

Hewlett-Packard India Ltd. provides computing, internet and intranet solutions, services, communications products and measurement solutions. It has sales and support offices in Delhi, Bangalore, Hyderabad, Chennai, Mumbai, and Kolkata and a manufacturing facility in Bangalore. Hewlett-Packard India is located in Mumbai, India.

Daiwa Capital Markets India Pvt Ltd. (DCMI) is the brokerage subsidiary of Daiwa Securities Group, Inc. (TYO: 8601). The firm is headquartered in Mumbai and was founded in 2007. DCMI provides brokerage services to their global institutional clients investing in Pan Asian markets.

DAM Capital Advisors Ltd. (Broker) (DAM Capital-Broker) is the securities broker division of DAM Capital Advisors Ltd., an integrated full-service equity-focused Investment Bank and Institutional Equities platform headquartered in Maharashtra, India. The firm was founded in 1993 and formerly known as IDFC Securities Ltd. DAM Capital-Broker offers proficient and effective research and broking services to marquee global and local institutions investing in Indian equities.

Nomura Financial Advisory & Securities (India) Pvt Ltd. (NFASPL) is a brokerage firm headquartered in Mumbai, India. The firm was founded in 2007 and is a subsidiary of Nomura Holdings, Inc. (TYO: 8604) in Japan. NFASPL provides stock broking, merchant banking and research to various investors.

Karvy Stock Broking Ltd. (KSBL) is an independent brokerage firm headquartered in Hyderabad, India. The firm offers stock broking services to corporate, institutions and individual investors. Their services include share trading, currency trading, demat services and investment in various financial products at competitive brokerage charges in each segment. KSBL offers a user-friendly online trading platform in the industry that provides the benefits of trading in equities, derivatives and currencies. It also facilitates investments in bonds, NCDs, exchange traded funds (ETF) and mutual funds.

Elara Securities (India) Pvt Ltd. (Elara Securities India) is a securities brokerage firm headquartered in Mumbai, India. The firm was founded in 2007 and is a subsidiary of Elara Capital (India) Pvt Ltd., which is owned by Elara Capital Plc in Great Britain. Elara Securities India is a market maker across Indian cash equities and equity derivatives and offers execution services across a host of platforms, state of the art services in term of DMA, algorithm trading, and state of the art programs. They serve long only funds, hedge funds and asset management companies and private banks amongst other institutions.