Company lists · Data refreshed September 2026
Top 25 Financial services research firms based in India
RevenueBase identified 292 financial services research firms headquartered in India as of September 2026 and tracks 22,286 professional contacts across them, including 3,881 with verified work emails. Mumbai is the largest hub.
This list covers financial services research firms headquartered in India, matched on what each company actually does as described in its own words. Ranked by team size, largest first. Every row shows the company's own description, its RevenueBase Smart Search rating, and when it was last checked. Data refreshed September 16, 2026.
Published by RevenueBase, a B2B data infrastructure company. This list was built with RevenueBase Smart Search, the natural-language company search RevenueBase customers use to build their own targeted lists and unlock verified emails and direct dials at the companies on them. How these lists are built and judged.
The 25 largest financial services research firms based in India
Ranked by team size| # | Company | Contacts | |||
|---|---|---|---|---|---|
| 1 | 13,208 contacts → | ||||
Partial evidence “Motilal Oswal Financial Services Ltd.(MOFSL) was founded in 1987 as a small sub-broking unit, with just 2 people running the show.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 2 | 2,161 contacts → | ||||
Partial evidence “Established In 1990, SMC is a well-diversified financial services company in India offering services across brokerage (across the asset classes of equities (cash and derivatives)…” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 3 | 816 contacts → | ||||
Indirect evidence “Connect and Converse with likeminded people, Contribute and share your thoughts.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 4 | 784 contacts → | ||||
Indirect evidence “SEBI Reg No:NSE (CM, F&O) & BSE No:0893 | DP ID: IN300-079/450 | NSE Member No- 07066 | BSE Clg.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 5 | 429 contacts → | ||||
Partial evidence “William O’Neil India is part of the O’Neil companies, a family of businesses dedicated to providing industry-leading financial services and information.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 6 | 268 contacts → | ||||
Indirect evidence “PhillipCapital India Pvt.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 7 | 212 contacts → | ||||
Strong evidence “Epic Research is a leading financial services provider with presence in Indian and other global capital markets.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 8 | 204 contacts → | ||||
Partial evidence “With a legacy spanning over 140 years, B&K (Batlivala & Karani) stands as one of the oldest financial services groups in India.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 9 | 179 contacts → | ||||
Partial evidence “The Research Insights is an obligated organization and a global ground breaker in research, analytics and advisory.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 10 | 158 contacts → | ||||
Partial evidence “Value Research is a leading provider of independent investment research in India.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 11 | 156 contacts → | ||||
Strong evidence “Axience is a specialist business services firm providing research, analytics and intelligence services to all pillars of the financial services industry, consultancy, governmental…” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 12 | 149 contacts → | ||||
Partial evidence “We are a leading financial services firm delivering integrated financial solutions for a dynamic marketplace.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 13 | 94 contacts → | ||||
Strong evidence “Magistral offers offshore capacity and capabilities for Financial Research, Analytics, Technology and AI for global financial services industry.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 14 | 87 contacts → | ||||
Partial evidence “Reports Insights is the leading research industry that offers contextual and data-centric research services to its customers across the globe.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 15 | 84 contacts → | ||||
Indirect evidence “Sunidhi Group was founded in the 1960s as a stock broking enterprise by Late Jasvantlal Parekh, Late Jayantilal Shah, and Late Dhirajlal Parekh.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 16 | 72 contacts → | ||||
Partial evidence “Alchemy Research and Analytics is a leading next-generation, tech-powered, human-led provider of bespoke solutions in business research, market intelligence, sustainability…” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 17 | 62 contacts → | ||||
Indirect evidence “Invergence Analytics is a subsidiary of Convergence Inc.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 18 | 59 contacts → | ||||
Partial evidence “Opulent Investment Adviser Private Limited SEBI Registered Research Analyst (Registration No.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 19 | 47 contacts → | ||||
Strong evidence “Trusted by a million members worldwide, Equitymaster is a leading financial research firm that offers independent, unbiased, and actionable insights on the Indian stock market.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 20 | 42 contacts → | ||||
Partial evidence “Northstar Analytics provides high-quality, consistent, and cost-effective investment research and analytical support to asset managers (public equity, private equity, venture…” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 21 | 41 contacts → | ||||
Partial evidence “Golden Hills Capital India Private Limited is a leading provider for data analytics and research providing a comprehensive suite of solutions ranging from consulting services to…” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 22 | 36 contacts → | ||||
Partial evidence “ValueAdd Research and Analytics Solutions (ValueAdd) is a growing research and analytics solutions provider.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 23 | 25 contacts → | ||||
Partial evidence “Spark Institutional Equities is a top-3 rated research led broker in India with over 75 employees.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 24 | 22 contacts → | ||||
Partial evidence “Maxim Research Private Limited provides differentiated and value-add research & analytics services to its global clients.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
| 25 | 21 contacts → | ||||
Indirect evidence “We are a Team of Highly Skilled Professionals with a mission to bring World Class Investment Services and Solutions to Investors in India and around the globe.” Source: RevenueBase Database · checked Sep 16, 2026Thanks. The Data Team will review it. | |||||
RevenueBase Smart Search
RevenueBase Smart Search assesses information from a company’s LinkedIn profile, information supplied directly by the company, its website, and other publicly available sources. It uses that information to rate how closely the company relates to this list’s category: financial services research firms. Every row carries its rating and the description the rating was read from, so each one can be checked rather than taken on trust.
- Strong evidence
- The company's own public description of its business names financial services research firms.
- Partial evidence
- Its own public description names part of financial services research firms, so it works in or next to the category without describing itself that way.
- Indirect evidence
- The description shown does not name financial services research firms. The match rests on the rest of the company's public profile rather than the one sentence quoted here, so this is the rating to check first.
RevenueBase Smart Search is how these lists are built: RevenueBase's data engine and AI assemble the companies that match a category defined in a user's own words, so a list can be about what companies actually do rather than about whichever industry code they were filed under.
Showing 25 of 292 financial services research firms based in India
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Financial services research firms based in India at a glance
As of Sep 16, 2026Companies by employee count
Email recency for this list is measured worldwide rather than for India, so it is reported there. Company counts and contact totals on this page are exact for India, over 292 companies.
How this list was built
Company categories are rarely black and white. RevenueBase reads each company's own description of its business to decide whether it belongs among financial services research firms, so some rows will be adjacent to the category rather than pure plays. The description and RevenueBase Smart Search rating on every row are there so you can check each match yourself.
- Source
- The RevenueBase company graph: 60 million companies and 398.9 million professional contacts resolved from primary sources, queried with RevenueBase Smart Search, the natural-language company search available to every RevenueBase user.
- What qualifies
- Companies headquartered in India whose own description of what they do matches “financial services research firms”. Matching reads each company's description, not its industry code or its name.
- RevenueBase Smart Search
- RevenueBase Smart Search is how this list is assembled and how each row is rated. RevenueBase's data engine and AI assess a company's LinkedIn profile, information supplied directly by the company, its website and other publicly available information, then relate it to a category defined in a user's own words. Each row is rated strong evidence (its own description names financial services research firms), partial evidence (it names part of the category) or indirect evidence (the description shown names none of it and the match rests on the rest of the company's profile). The description supporting each rating is quoted on the row.
- What we exclude
- Companies whose own description does not clearly place them among financial services research firms, and records with no verified work email. Companies headquartered outside India are excluded even when they keep an office there.
- Match quality
- In blind human judging of this matching method, 86% of matched companies were on target. Expect roughly 1 in 7 rows to be adjacent to the category rather than a pure play. Every row shows the company's own description and its RevenueBase Smart Search rating so you can judge each match yourself. Read the full methodology: how the lists are built, how the judging worked, and what the figure means.
- Ranking
- Team size, largest first: companies are ordered by the number of professionals RevenueBase tracks at each one. Employee ranges shown are reported bands, for context.
- Verification
- Every listed company carries at least one verified work email, 3,881 across the full list. Contacts re-verify on a rolling cadence, and each contact's own verification date is shown inside RevenueBase.
- Refresh
- This page's figures were pulled from the company graph on September 16, 2026. Lists refresh periodically as the graph is re-checked.
- Corrections
- Wrong category, wrong headquarters, or a company that has closed? Use “Report an issue” on any row. Reports go to the RevenueBase Data Team and feed back into the company graph.
Financial services research firms by metro
- Financial services research firms in Mumbai43
- Financial services research firms in Pune42
Frequently asked
What is RevenueBase Smart Search?
RevenueBase Smart Search is how RevenueBase decides which companies belong on this list and how strongly each one fits. Its data engine and AI assess a company's LinkedIn profile, information supplied directly by the company, its website and other publicly available information, then relate it to the category the list is about. Each row is rated strong evidence when the company's own description names financial services research firms, partial evidence when it names part of the category, and indirect evidence when the description shown names none of it and the match rests on the rest of the company's profile.
How many financial services research firms are there based in India?
RevenueBase identified 292 financial services research firms headquartered in India as of September 2026, matched on each company's own description of what it does rather than its industry code.
What is the largest company on this list?
Motilal Oswal Financial Services LTD, headquartered in Mumbai, tops this list with the largest team on record.
Which city has the most financial services research firms?
Mumbai leads with 43 headquartered companies, followed by Pune (42) and Indore (20).
How do I get contact information for these companies?
A free RevenueBase account lets you run this exact search and work the top results, verified emails and direct dials included. Upgrading unlocks all 3,881 verified decision-maker contacts tracked across these 292 companies.
How current is this list?
The list refreshes periodically as the company graph is re-checked. This page's figures were pulled on September 16, 2026.
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About this data
RevenueBase is a B2B data infrastructure company. Its company graph covers 60 million companies and 398.9 million professional contacts, with emails verified on a rolling cadence rather than scraped once and left to decay. These company lists are generated directly from that graph with RevenueBase Smart Search, the same natural-language company search every RevenueBase user has: describe a market in plain words, get the companies that match, and add verified emails and direct dials for the people at them. It is the same data that powers RevenueBase's B2B data products, and a free account includes 500 credits to start. How these lists are built and judged.
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