Equity Research Analyst - Public Markets

Role Overview
We are looking for sharp, intellectually curious and detail-oriented Equity Analysts with hands-on experience in public markets to join our investment research team. The role involves identifying, researching and evaluating high-quality listed companies, developing differentiated investment views, and working closely with Fund Managers on portfolio and investment decisions.
The ideal candidate should have a strong understanding of equity markets, fundamental analysis, financial statements, business models, valuation and industry dynamics, along with the ability to convert extensive research into clear and actionable investment theses.

Key Responsibilities

• Conduct fundamental research on listed companies across sectors, with a focus on identifying high-quality and under-researched investment opportunities.
• Build detailed understanding of a company's business model, competitive advantages, industry structure, management quality and long-term growth drivers.
• Analyse annual reports, investor presentations, earnings calls, industry data, regulatory filings and other primary sources.
• Develop detailed financial models, earnings estimates, valuation frameworks and scenario analyses.
• Track quarterly results, management commentary, business developments, capital allocation and key operating metrics.
• Identify earnings inflection points, structural growth opportunities, business transitions and potential risks before they are fully reflected in market valuations.
• Develop and maintain investment theses, including the key drivers of upside, downside risks, valuation expectations and potential catalysts.
• Conduct peer and sector analysis and benchmark companies on growth, profitability, capital efficiency, valuation and competitive positioning.
• Monitor portfolio companies and provide timely updates to Fund Managers on material developments.
• Challenge existing investment views and independently assess both bull and bear cases.
• Work closely with Fund Managers to translate research into actionable investment recommendations and portfolio decisions.
• Maintain a high-quality research database covering companies, industries, financial metrics, valuations and historical investment observations.

Candidate Profile

• Prior experience in public-equity research, equity investing, portfolio management, sell-side research, investment banking or a closely related public-markets role.
• Strong understanding of Indian equity markets and listed businesses.
• Demonstrated ability to independently research companies and develop a clear, differentiated investment thesis.
• Strong financial modelling, accounting and valuation skills.
• Ability to analyse businesses beyond reported financial numbers and understand the underlying economics of the business.
• Strong interest in identifying small- and mid-cap companies with long-term compounding potential.
• Excellent written and verbal communication skills, with the ability to present complex investment ideas in a concise and structured manner.
• High degree of intellectual curiosity, scepticism and attention to detail.
• Most importantly, a demonstrated passion for investing and public markets.

What We Value
We are particularly interested in candidates who can demonstrate:

• Investments or research ideas they have independently developed.
• Strong understanding of why a stock should outperform, rather than simply why a company is fundamentally good.
• Ability to distinguish between business quality, earnings growth and valuation.
• Evidence of identifying changes in business fundamentals before they became consensus.
• Ability to think independently and challenge prevailing market narratives.
• A disciplined approach to risk-reward assessment and downside protection.
• Long-term orientation combined with an awareness of market expectations and valuation.

This is a high-ownership role for someone who wants direct exposure to investment decision-making and the opportunity to work closely with Fund Managers in building concentrated, high-conviction portfolios.