SEBI Registered Research Analysts in India
All 2,134 analysts on SEBI's public register as on August 3, 2026, across 192 cities and 27 states. Search by pincode to find the ones closest to you, or browse by location below.
Type a 6-digit pincode to sort all 2,134 analysts by distance. We never ask for or store your location.
Where analysts are registered
Colour shows how many registered analysts have their office in each state. Hover or tap a state, or a city below, to see the count. Click through to browse.
Browse by registered year
From 2015 to 2026 — find the earliest registered analysts, or see who joined the register most recently.
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Before you subscribe to anyone's research, it is worth understanding what SEBI registration actually guarantees, how a research analyst differs from an investment adviser, and which questions to ask before you pay for recommendations.
Read the guide to SEBI registered research analysts →Common questions
- What is a SEBI registered research analyst?
- A SEBI Registered Research Analyst (RA) is licensed by the Securities and Exchange Board of India under the SEBI (Research Analysts) Regulations, 2014 to research securities and publish buy, sell or hold recommendations. Unlike a stock tipster, an RA must disclose their own holdings and cannot trade against the recommendations they publish.
- How do I verify that a research analyst is genuinely registered?
- Ask for their registration number, which always begins with INH, then check it against the official register on the SEBI website. Every analyst listed in this directory carries their registration number on their profile page. Never rely on a screenshot or a certificate image sent over WhatsApp or Telegram.
- How many SEBI registered research analysts are there in India?
- SEBI listed 2,134 registered research analysts as on August 3, 2026, spread across 192 cities. Maharashtra alone accounts for 30 percent of them, and Mumbai and Indore together make up about 25 percent of the national total.
- Is a research analyst the same as an investment adviser?
- No. A research analyst researches securities and publishes recommendations, which are often the same report sent to many subscribers. An investment adviser builds a plan around your specific financial situation. Both are SEBI regulated, but they are different registrations with different obligations.
- Does The Rational Investor recommend any of these analysts?
- No. This directory reproduces SEBI’s public register so it is easier to search. We are not paid for listings, we do not rank analysts by quality, and inclusion here is not an endorsement.
Compiled from SEBI's public register of Research Analysts as on August 3, 2026. Registration details change: always confirm someone's current status on the official SEBI register before engaging them.
Inclusion in this directory is not an endorsement, recommendation, or assessment of any analyst. The Rational Investor is not affiliated with SEBI or with anyone listed, receives no payment for listings, and does not verify the services analysts offer. Read our full disclaimer.