Mayur Milak

HSBC Securities & Capital Markets (India) Pvt Ltd. (HSBC Securities India) is a securities brokerage firm headquartered in Mumbai, India. The firm was founded in 1994 and is a subsidiary of HSBC Investment Bank Holdings BV, ultimately held by HSBC Holdings Plc (LON: HSBA) in Great Britain. HSBC Securities India offers services in Investment Banking (IB), Infrastructure and Real Estate, Equities research and stock broking. Infrastructure and Real Estate Group services are provided to governments, large corporates and top-tier banks. Equities research and stock broking primarily cater to the institutional client base which includes foreign institutional investors, foreign portfolio investors, local institutions, mutual funds, insurance companies, and select high net worth and corporate clients.

HDFC Securities Ltd. is a securities brokerage firm headquartered in Mumbai, India. The firm was founded in 2000 and is a subsidiary of HDFC Bank Ltd. (NSE: HDFCBANK). HDFC provides brokerage services across different asset classes such as equity, gold, debt, real estate, stocks, derivatives, mutual funds, fixed deposits, NCDs, insurance, bonds and currency derivatives.

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.

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.

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.

Kisan Ratilal Choksey Shares & Securities Pvt. Ltd. is an independent securities brokerage firm headquartered in Mumbai, India. Founded in 1979, the firm offers trading services to high net-worth individuals, corporates, NRI, mutual funds, as well as other financial institutions.

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.

Angel One Ltd. (Broker) (Angel One-Broker) is the stockbroker division of Angel One Ltd. (NSE: ANGELONE), a Fintech firm headquartered in Mumbai, India. The firm was founded in 1987 and formerly known as Angel Broking Ltd. Angel One-Broker provides full-service broking services to retail clients through various platforms.

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.

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.

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.

R. Subramanian & Co. is a private company based in Chennai, India. The Indian company was founded by Ramanatha Subramanian.

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.

Emkay Global Financial Services Ltd. (Broker) (Emkay-Broker) is the securities brokerage division of Emkay Global Financial Services Ltd. (NSE: EMKAY), a publicly held financial services company headquartered in Mumbai, India. Founded in 1995, Emkay-Broker offers commodities, currency derivatives and retail broking services to various investors.

Quantum Information Services Pvt Ltd. provides investment and retirement planning services. The company was founded on December 19, 1989 and is headquartered in Mumbai, India.

Part of BNP Paribas SA, BNP Paribas Securities India Pvt Ltd. is an Indian company that provides brokerage services. The company is based in Mumbai, India and was founded in 2008.

Centrum Wealth Management Ltd. (CWM) is the research firm subsidiary of Centrum Capital Ltd. (NSE: CENTRUM). The firm is headquartered in Mumbai. CWM provides investment research to their clients.

Part of Reliance Capital Ltd., Reliance Securities Ltd. is an Indian company that provides brokerage services. The company is based in Mumbai, India.

Quantum Securities Pvt Ltd. is an independent investment research firm headquartered in New Delhi, India. Founded in 1994, the firm provides research and in depth market analysis to institutions and High net worth individuals. Quantum Securities is strongly focused on Emerging ideas particularly in Mid-caps.

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.

M.P. Chitale & Associates is an Indian company that provides full service auditing and consulting services. The private company is based in Mumbai, India.

IL&FS Broking Services Pvt. Ltd. is the brokerage subsidiary of IL&FS Financial Services Ltd., which is ultimately held by Infrastructure Leasing & Financial Services Ltd. The firm is headquartered in Mumbai and was founded in 1999. IL&FS provides brokerage services to their clients.

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.

Edelweiss Financial Services Ltd. (Broker) (Edelweiss-Broker) is the securities broker division of Edelweiss Financial Services Ltd. (NSE: EDELWEISS), an investment and financial services company headquartered in Mumbai, India. The firm was founded by Rashesh C. Shah in 1996. Edelweiss-Broker provides broking services to global and domestic institutional investors.

Indsec Securities & Finance Ltd. (Indsec) is an independent securities broker headquartered in Mumbai, India. Founded in 1993, Indsec offers a complete range of broking services to various investors.

Analec Infotech Pvt Ltd. is an investment research firm headquartered in Gurgaon, India. The firm offers platforms and solutions in the investment research and related client servicing space, working with a range of broker-dealers and investment banks globally.

Part of Equirus Capital Pvt Ltd., Equirus Securities Pvt Ltd. is a trusted investment bank based in Ahmedabad, IN. The company's expertise in structuring and delivering transactions tailored to client needs sets them apart. The Indian company has established a stellar reputation and market presence across domains, offering expert advisory for growth, capital, and wealth management. Maximize your investments with their proven solutions. The CEO of the company is Ajay Garg.

Part of YES BANK Ltd., YES Securities (India) Ltd. is a brokerage firm. The company is based in Mumbai, India. The company was founded in 2013. Prasanth Prabhakaran has been the CEO of the Indian company since 2017.

JHP Securities Pvt. Ltd. is an independent brokerage firm headquartered in Mumbai and was founded in 1997. The firm provides broking and equity portfolio management services.

Pug Securities Pvt Ltd. provides financial intermediation services. The private company is based in New Delhi, India.

Visible Alpha LLC is an investment research firm headquartered in New York City. The firm was founded by Scott Rosen in 2012 and was acquired by S&P Global, Inc. (NYSE: SPGI) in 2024. Visible Alpha provides immediate access to the latest consensus forecast data and historical data on granular metrics. They offer fundamental investment research capabilities on S&P Global Market Intelligence’s Capital IQ Pro platform. The firm enhances the buy-side investment research process by extracting meaningful value from key sell-side assets.

Part of Moody's Corp., Moody's Analytics Knowledge Services (India) Pvt Ltd. is an Indian company that provides financial intelligence and analytical tool services. The company is based 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.

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.