Sagar Shah

BofA Securities India Ltd. is the Indian broker/dealer subsidiary of Bank of America Corp. (NYSE: BAC) in the US. The firm was formerly known as DSP Merrill Lynch Ltd. It provides capital raising solutions, M&A advisory, securities research, sales and trading capabilities to corporates, financial institutions, multinationals and foreign government entities. The company was founded in October 23, 1975 and was headquartered in Mumbai, India.

Deutsche Bank India engages in the provision of integrated financial services to corporate, institutional, and individual clients. It operates through the following segment: Global Market, Commercial Banking, Retail Banking, and Others. The Global Market segment includes trading in forex, derivatives, corporate bonds, government securities, placement of corporate debt in the market. The Commercial Banking segment comprises of transaction banking services, catering to working capital requirement of corporate customers, and custodial and wealth management services. The Retail Banking segment focuses on raising of deposits from retail customers and catering to loan requirements of such customers. The Others segment represents parabanking income and revenue earned on account of the notional capital charge, and notional cost of fixed asset usage. The company is headquartered in Mumbai, India.

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.

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.

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.

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.

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.

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.

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.

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.

Citigroup Global Markets India Pvt Ltd. (Citi India) is a brokerage firm headquartered in Mumbai, India. The firm was founded in 2000 and is a subsidiary of Seven World Holdings LLC, ultimately held by Citigroup, Inc. (NYSE: C) in the US. Citi India offers full-service execution services to corporate and investment banking companies.

Part of Bank of Baroda, BOB Capital Markets Ltd. is an Indian company that provides brokerage services. The private company is based in Mumbai, India. Ratnesh Kumar has been the CEO of the company since 2016.

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.

Religare Securities Ltd. (RSL) is the wholly-owned securities brokerage subsidiary of Religare Enterprises Ltd. (NSE: RELIGARE) in India. Headquartered in Mumbai, the firm was founded in 2017 and they offer broking services in Equity, Currency and Commodity as well as depository participant services. RSL serves over 10 lakh clients across both Offline and Online platforms.

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.

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.

Goldman Sachs (India) Securities Pvt Ltd. (GS India) is the India-based broker-dealer subsidiary of Goldman Sachs Securities Co. Ltd., ultimately held by The Goldman Sachs Group, Inc. (NYSE: GS) in the US. Headquartered in Mumbai, GS India was founded in 2006 and provides execution services to corporate and institutional clients.

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.

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.

Part of S & P Global, Inc., CRISIL Research is an Indian company that provides investment research. The company is based in Mumbai, India and was founded in 2010.

Part of Dun & Bradstreet Holdings, Inc., Dun & Bradstreet Information Services India Pvt Ltd. is an Indian data analytics company that offers a wide suite of credit information solutions and database services extensively used by banks, financial institutions, multinationals, corporate entities, public sector undertakings, SMEs, exporters & importers. The company is based in Mumbai, India. The company was founded in 1841. Dun & Bradstreet helps companies improve their business performance through data and insights delivered through their data cloud, live business identity, and the solutions they power. The company's extensive international network and presence enables millions of executives to make confident business decisions with reliable information. The company also offers a trade exchange program that gives 24-hour online access to payment information on companies to understand risk exposure. The CEO is Avinash Gupta.

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.

Haitong Securities India Pte Ltd provides online share trading services. The company is headquartered in Mumbai, India.

Part of BDO LLP, BDO India LLP is an Indian company that provides accounting, tax, and advisory services. The company is based in Mumbai, India and was founded in 1988.

ICRA Ltd. (Research Firm) (ICRA Research) is the research division of ICRA Ltd., which is ultimately held by Moody’s Corp. (NYSE: MCO). The firm is headquartered in Gurgaon, India. ICRA Research provides research services to their clients.

Alternative Investments Market of India operates as an online marketplace, which connects institutional investors. It offers a tech platform that enables price discovery in bonds through innovative trading protocols. The company was founded by Pratham Jahoorkar in 2014 and is headquartered in Mumbai, India.

Fair Value Capital Pvt Ltd. is an independent advisory firm headquartered in New Delhi, India. The firm was founded by Rakshit Sethi in 2006. Fair Value Capital provides investment management services to institutional investors which includes Endowments, Foundations, Insurance & Pension Funds and global Family Offices.

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.

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.

Axis Capital Ltd. is an institutional brokerage firm headquartered in Mumbai, India. The firm was founded in 2005 and is a subsidiary of Axis Bank Ltd. (NSE: AXISBANK). Axis Capital offers an entire suite of execution services across cash and derivatives segments – with high touch and electronic trading capabilities for all their clients with access to unique pools of liquidity across large and mid-market segments.