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.
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.
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.
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.
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.
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.
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.
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.
// 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.
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.
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.
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.
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 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.
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.
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.
Standard KYC documentation and a SEBI-mandated risk-profiling questionnaire. Ensures research is calibrated to your appetite, capital base and goals.
Most Important Terms & Conditions (MITC) and subscription agreement signed digitally. Fee structure, scope of services, grievance redressal — all in writing.
Welcome email and subscription confirmation issued. First research delivery within 7 working days. Onboarding complete — coverage begins.
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.
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.
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.
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.
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.
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.
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 →Escalate to SCORES 2.0 — SEBI's centralised, web-based grievance redressal platform for time-bound resolution under regulatory oversight.
scores.sebi.gov.in →Approach the Smart ODR platform for online conciliation or arbitration administered under SEBI's framework. Final-tier resolution.
smartodr.in →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.