// SECURE CONNECTION · ESTABLISHED[ OK ]
// SEBI CREDENTIALS · VERIFIED[ OK ]
// RAASB · BSE LIMITED · LINKED[ OK ]
// NSE / BSE MARKET FEEDS · SYNCED[ OK ]
// RESEARCH ENGINE · LOADED[ OK ]
// COMPLIANCE · ACTIVE[ OK ]
// MARKET RISK ADVISORY[ MANDATORY ]
SYSTEM v2.0 · INH000027496
SYSTEM ONLINE SEBI REGISTERED RESEARCH ANALYST REG · INH000027496 BSE ENLISTMENT · XXXXX RAASB · BSE LIMITED ⚠ MARKET RISK ADVISORY · MANDATORY COMPLIANCE · ACTIVE SYSTEM ONLINE SEBI REGISTERED RESEARCH ANALYST REG · INH000027496 BSE ENLISTMENT · XXXXX RAASB · BSE LIMITED ⚠ MARKET RISK ADVISORY · MANDATORY COMPLIANCE · ACTIVE
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SEBI Registered Research Analyst · India

Equity research for the DECISIVE INVESTOR.

A next-generation research practice for Indian equity markets. Powered by first-principles analysis, governed by SEBI Research Analyst Regulations, and delivered with full transparency on methodology, conflict and AI tooling.

SEBI Reg.
INH000027496
Coverage
NSE · BSE
Status
LIVE
BULLLONG
BEARSHORT
VIEWBOTH SIDES
◆ ANALYSIS
RISK
RESEARCH
REASON
REVIEW
REPEAT
SCROLL
0%
SEBI Compliant
0d
Grievance Resolution
0
Research Services
0
Analyst, By Name
01
Our Services

What we offer.

// SRV_01
1
Equity Research
Reports
Fundamental analysis of listed Indian equities — earnings quality, balance sheet integrity, management commentary, valuation frameworks. Each report ships with documented rationale, methodology, and a precisely stated investment horizon.
COVERAGENSE · BSE
// SRV_02
2
Model
Portfolio
A curated basket of equity recommendations with transparent methodology, defined investment horizon and benchmark index. Reviewed and rebalanced at pre-disclosed intervals with full performance attribution.
REVIEWQUARTERLY
// SRV_03
3
Sector &
Thematic Notes
Periodic deep-dives into Indian sectors and structural themes — banking, capital goods, consumption, manufacturing. Written for investors who operate on multi-year horizons, not quarterly noise cycles.
CADENCEMONTHLY
// SRV_04
4
Event-Driven
Updates
Real-time analysis on results, corporate actions, regulatory shifts and management changes affecting securities under coverage. A clear written verdict on whether the underlying thesis still holds.
TRIGGERAS REQUIRED
02
Core Principles

What we stand for.
What we refuse to compromise.

// V_01
Independence
No brokerage tie-ups. No paid promotion. No undisclosed positions. Research conclusions are formed before any commercial consideration enters the conversation.
// V_02
Transparency
Every report carries documented methodology, investment horizon, valuation framework, and full conflict-of-interest disclosures. Nothing is reserved for the inner circle.
// V_03
Long-term Horizon
We invest in businesses, not tickers. Theses are built for multi-quarter, multi-year holding periods — not for the headline of the hour or the volatility of the moment.
// V_04
Documented Process
Every recommendation is written, archived, and traceable. No verbal tips. No WhatsApp "calls." The record holds the analyst accountable — to clients, to SEBI, and to herself.
// V_05
Conviction
over Consensus
We don't chase the trade everyone's already in. Original analysis, unfashionable views, contrarian theses — when the work supports it. Crowds are not a research methodology.
// V_06
Compliance First
SEBI regulations aren't a checklist — they're the operating system. Every disclosure, every disclaimer, every record-keeping requirement is met before publication, not after.
03
Research Methodology

From idea
to published report.

01
SCREEN

Idea generation & screening

Ideas surface from quantitative screens (return on capital, debt profile, growth trajectory), industry reading, regulatory filings, and management commentary. Hundreds are screened. Only a handful clear the first filter.

Quant Screens RoCE / RoE Sector Read
02
RESEARCH

Primary research & financial modelling

Annual reports read cover-to-cover. Five-year financial models built from scratch. Industry benchmarking against listed peers. Management commentary reviewed across quarters for consistency. Capital allocation history scrutinised.

Annual Reports 5Y Models Peer Bench Cap. Allocation
03
VALUE

Valuation & thesis stress-test

Multiple valuation frameworks applied — DCF, relative multiples, sum-of-parts where applicable. Bear, base, and bull scenarios modelled. Thesis stress-tested against contrarian arguments before any recommendation is written.

DCF Relative Bear/Base/Bull Risk Map
04
WRITE

Report drafting & disclosure

Report written with documented thesis, investment horizon (stated upfront), target levels, risk factors, and exit triggers. SEBI-mandated disclosures attached — conflict of interest, AI usage, registration, standard warnings. Methodology archived.

Thesis Horizon Exit Triggers SEBI Discl.
05
PUBLISH

Delivery & ongoing coverage

Report delivered to subscribers via secure channels (see Delivery section below). Coverage continues post-publication — earnings, corporate actions, regulatory shifts. Theses are revisited; updates issued in writing. Performance is tracked transparently.

Secure Delivery Ongoing Notes Audit Trail
04
How You Get It

How research reaches
you.

Telegram Primary

Research recommendations, equity & options calls, and time-sensitive market updates are delivered primarily through our private Telegram channel. Subscribers receive every recommendation directly on their phone — fast, secure, and with full message history.

// PRIMARY CHANNEL

Email

Full written research reports, periodic notes, and onboarding communication are delivered to your registered email. Each report carries the analyst's signature, registration number, and complete SEBI-mandated disclosures.

// SECONDARY
05
Subscription Plans

Three plans.
Pick your access level.

// Plan I
Monthly
Get started month-to-month with full equity research and support.
₹4,000
/ Month
  • Equity & options recommendations
  • Doubt-solving support
  • Research delivered to your email
  • Event-driven alerts
Subscribe →
// Plan II
Quarterly
Three months of full research access — our most popular plan.
₹8,000
/ Quarter
  • Equity & options recommendations
  • Doubt-solving support
  • Research delivered to your email
  • Event-driven alerts
Subscribe →
// Plan III
Yearly
A full year of research at the best value, with added priority support.
₹15,000
/ Year
  • Equity & options recommendations
  • Priority doubt-solving support
  • Research delivered to your email
  • Event-driven alerts
Subscribe →
View All Plans → // Contact us for full details and custom plans

// SEBI Fee Cap. All subscription fees are within the SEBI-prescribed ceiling of ₹1.51 lakh per family per annum, as per the SEBI (Research Analysts) Regulations. Fees are payable only via banking channels against duly issued invoices.

06
What We Don't Do

What we don't do.
And why.

×

No "Sure Shot" Calls

No "guaranteed returns." No "doubling money in 30 days." No "VIP jackpot tips." If anyone — including us — promises certainty, walk away. Markets don't offer it.

×

No Paid Promotion

We are never paid by companies to write about them. We do not accept brokerage commissions for referring clients. Our only revenue is the subscription fee you pay.

×

No Verbal Recommendations

Recommendations live in writing or they don't exist. We do not give "calls" over phone, WhatsApp voice, or Telegram. Every actionable view is documented, archived, and disclosed.

×

No Discretionary Trading

We are Research Analysts, not Portfolio Managers. We do not place trades on your behalf, hold your funds, or access your demat account. Execution is always your decision.

×

No Unsolicited Marketing

No cold calls. No spam. No "limited time offer" pressure tactics. If someone claims to be calling on our behalf and asks for payment or credentials, report it to SEBI immediately.

07
Analyst Profile

The signal.
Not the noise.

Saumya Agarwal
// IMAGE EMBEDDED Saumya Agarwal · Research Analyst

Independent.
On record.
By name.

Dr. Saumya Agarwal is a SEBI Registered Research Analyst operating an independent practice focused exclusively on listed Indian equities. Her work is built on first-principles analysis: read the business, then read the chart — not the other way around.

Every research output ships with her name, her registration number, and a complete conflict-of-interest declaration. Methodologies are defined before recommendations are issued. Investment horizons are stated in advance. Performance is tracked transparently.

The practice is deliberately small in scale, exceptionally high in care. She believes independent research is a craft — and that the only way to earn an investor's capital is to earn their understanding first.

SEBI Reg.
INH000027496
Certification
NISM-XV
Qualification
BDS
Coverage
NSE · BSE
08
Getting Started

How to become
a subscriber.

// STEP 01
Get in Touch

Reach out via email or our enquiry form with your investment objectives and any questions. No phone calls — everything starts in writing, so you have a clear record from day one and we confirm whether our research approach is a fit for you.

// STEP 02
KYC & Risk Profile

Standard KYC documentation and a SEBI-mandated risk-profiling questionnaire. Ensures research is calibrated to your appetite, capital base and goals.

// STEP 03
Signed Agreement

Most Important Terms & Conditions (MITC) and subscription agreement signed digitally. Fee structure, scope of services, grievance redressal — all in writing.

// STEP 04
Welcome & First Delivery

Welcome email and subscription confirmation issued. First research delivery within 7 working days. Onboarding complete — coverage begins.

09
Frequently Asked

Questions, answered.
In writing. On record.

A SEBI Registered Research Analyst (RA) is licensed by SEBI to issue research reports and recommendations on securities. We publish research — we do not manage client portfolios, place trades, or hold client funds. An Investment Advisor (RIA), by contrast, gives personalised advice tailored to an individual's full financial profile. Both are SEBI-regulated, but the scope is different. As an RA, our role is research; the execution decision remains entirely yours.
We cannot and will not promise any specific return. SEBI explicitly prohibits Research Analysts from offering any assurance of profit or guaranteed performance. Investments in securities markets are subject to market risk. What we do offer is rigorous research, transparent methodology, documented thesis, and complete disclosures — so that you make informed decisions with full visibility into our reasoning. Past performance is not indicative of future results.
Subscription fees are paid only via banking channels — UPI, bank transfer, or net banking — against a duly issued invoice in the name of the registered Research Analyst. We never accept cash. We never accept payment to unregistered third-party accounts. If anyone requests payment via unofficial means or pressures you to pay immediately, treat it as fraud and report to SEBI.
KYC and contact information is collected solely for regulatory compliance (SEBI/AML requirements) and service delivery. Data is stored securely and never shared with third parties for marketing. We will never ask for your trading, demat, or bank login credentials. Any communication doing so is fraudulent.
Yes. The refund and cancellation policy is documented in the Most Important Terms & Conditions (MITC) you'll sign at onboarding. In summary: you may discontinue at any time; refunds for unused service periods are processed per the agreed policy. There are no lock-in penalties — but research already delivered remains paid for.
That's healthy. Research is a perspective, not a directive. The recommendation includes the full thesis, methodology, and risk factors — so you can stress-test it against your own view. The final decision to act is always yours. If you believe a published view contains a factual error, write to us; we welcome corrections on the record.
Three escalation paths, in order: (1) Write to the Research Analyst directly at grievance@rasaumya.com — addressed within 21 days per SEBI mandate. (2) If unresolved, escalate to SCORES 2.0 — SEBI's centralised grievance redressal platform. (3) Final tier: Smart ODR platform for online conciliation or arbitration. Full details are in the Grievance section below.
Per SEBI's AI-disclosure circular, we disclose any use of AI tools. AI is used only as a supplementary aid — for data processing, document summarisation, or first-draft assistance. Final research conclusions and recommendations are issued by the Research Analyst, who remains solely accountable. No recommendation is ever auto-generated.
10
Mandatory Disclosures

Disclosures.
Full transparency mode.

i. Registration

SEBI Registered Research Analyst

Dr. Saumya Agarwal is registered with SEBI as a Research Analyst under Registration No. INH000027496, enlisted with BSE Limited (RAASB) under Enlistment No. XXXXX.

Verify at sebi.gov.in.

ii. Conflict of Interest

No undisclosed positions.

The Research Analyst has not received any compensation from companies mentioned in research reports in the preceding twelve months.

Material financial interest, ownership or conflict applicable to a specific report is disclosed within the report itself, per SEBI norms.

iii. AI Tool Usage

Transparency on AI assistance.

Per SEBI's AI-disclosure circular, any use of AI in research services is limited to supplementary aid.

Final conclusions and recommendations are issued by the Research Analyst, who remains solely accountable.

iv. Standard Warnings

Registration ≠ Guarantee.

Registration by SEBI, BSE enlistment and NISM certification in no way guarantee the performance of the Research Analyst or assure returns to investors.

Securities quoted are for illustration only and are not recommendatory.

v. Other Business

Clear segregation.

The Research Analyst confirms no other activity is undertaken which would conflict with the role of a Research Analyst. Any permitted activity is segregated and disclosed with the SEBI-mandated disclaimer that it is not regulated by SEBI.

vi. Disciplinary History

Clean regulatory record.

No material disciplinary action has been taken against the Research Analyst by SEBI, BSE/RAASB, or any other regulatory authority that may impact equity research activities.

Annual audit reports will be published on this website as required.

Market Risk Advisory

Investments in securities market are subject to market risks. Read all related documents carefully before investing. Past performance is not indicative of future performance. Views expressed in research reports are based on publicly available information and the Analyst's own analysis — they are not solicitations to buy or sell any securities. No assurance of returns is offered, expressed or implied.

11
Raising a Complaint

Three-tier resolution.
Time-bound.

// 01
Reach the
Analyst

Write to the Research Analyst directly. Grievances are addressed immediately and in any case not later than 21 days from receipt — per SEBI mandate.

grievance@rasaumya.com →
// 02
SCORES 2.0
// SEBI

Escalate to SCORES 2.0 — SEBI's centralised, web-based grievance redressal platform for time-bound resolution under regulatory oversight.

scores.sebi.gov.in →
// 03
Smart ODR
Platform

Approach the Smart ODR platform for online conciliation or arbitration administered under SEBI's framework. Final-tier resolution.

smartodr.in →
12
Get in Touch

Start the conversation.
In writing.

Reach out with your investment objectives and any questions about the research service. We respond in writing, so you always have a clear record from day one — no phone calls, no pressure.

research@rasaumya.com
Replies within 1–2 working days
// For grievances, please use the dedicated channel and escalation path in the Grievance section above.
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