Equity Research Analyst

Aranca; Mumbai; On-site; INR 3,000,000 - 5,000,000; Full time

Job summary

Aranca in Mumbai seeks a seasoned equity research professional to independently initiate and deliver high-quality research for global institutional clients. You will develop differentiated views across sectors and macro themes, supported by rigorous financial models and earnings forecasts.

You will also produce institutional-grade research, earnings updates, and initiation reports, while engaging with clients and senior stakeholders to build long-term, research-led relationships.

Qualifications

• MBA/PGDM in Finance from a reputed institution.
• CFA, CA, or equivalent qualification.
• 5+ years of relevant equity research experience.
• Strong financial modelling, forecasting, accounting, valuation skills.
• Experience preparing institutional research, including company updates and earnings reports.
• Exposure to global markets, multiple sectors; AI/LLM tools, Python, or VBA advantageous.

Responsibilities

• Independently initiate, execute, and deliver high-quality equity research for global institutional clients.
• Develop differentiated investment views across companies, sectors, countries, and macro themes.
• Build and maintain detailed financial models with revenue, cost, margin, working capital, capex, and cash-flow drivers.
• Translate analysis into earnings forecasts, valuation conclusions, investment theses, and stock recommendations.
• Apply analytical judgment to challenge assumptions and assess second- and third-order implications of developments.
• Produce institutional-quality research demonstrating analytical depth and sound investment judgement.
• Prepare earnings updates, company notes, sector/thematic reports, and initiation-of-coverage reports.
• Develop clear investment theses supported by financial analysis, catalysts, and risks.
• Communicate complex investment arguments clearly, both verbally and in writing.
• Engage proactively with institutional investment professionals through research and investment discussions.
• Build credibility with senior stakeholders through expertise, responsiveness, independent thinking, and consistent execution.

Skills

Financial modelling

Forecasting

Valuation

Financial analysis

Education

MBA/PGDM in Finance

CFA, CA, or equivalent

Tools

Python

VBA

Job description

Investment Research & Idea Generation

• Independently initiate, execute, and deliver high-quality equity research for global institutional clients.
• Develop differentiated investment views across companies, sectors, countries, and relevant macro themes.
• Conduct in-depth company and sector research covering business models, competitive positioning, key drivers, catalysts, and risks.
• Build and maintain detailed financial models with a strong understanding of revenue, cost, margin, working capital, capex, and cash-flow drivers.
• Demonstrate strong knowledge of accounting, corporate finance, valuation methodologies, and financial statement analysis.
• Translate analysis into earnings forecasts, valuation conclusions, investment theses, and stock recommendations.
• Quickly assess key business drivers, KPIs, valuation frameworks, and risks across sectors.
• Apply analytical judgment to challenge assumptions and assess second- and third-order implications of developments.
• Working knowledge of Python, VBA, or similar analytical tools would be an advantage.

Research Writing & Communication

• Produce institutional-quality research demonstrating analytical depth, clarity, and sound investment judgment.
• Prepare earnings updates, company notes, sector/thematic reports, and initiation-of coverage reports.
• Develop clear investment theses supported by financial analysis, valuation, catalysts, and risks.
• Communicate complex investment arguments clearly and succinctly, both verbally and in writing.
• Participate confidently in idea-driven discussions and defend views through evidence-based reasoning.
• Ensure high standards of accuracy, consistency, and presentation across research output.

Client Engagement

• Engage proactively with institutional investment professionals through research and investment discussions.
• Build credibility with senior stakeholders through expertise, responsiveness, independent thinking, and consistent execution.
• Understand client investment priorities and proactively identify relevant ideas, themes, and developments.
• Operate independently with minimal process handholding and build long-term, research-led client relationships.

POSITION REQUIREMENTS

Functional Requirements

• MBA/PGDM in Finance from a reputed institution,
• CFA, CA, or equivalent qualification.
• 5+ years of relevant equity research experience, preferably in institutional sell-side research.
• Strong financial modelling, forecasting, accounting, valuation, and financial statement analysis skills.
• Experience preparing institutional research, including company updates, earnings reports, sector/thematic reports, and preferably initiation reports.
• Exposure to global markets, multiple sectors, financial databases, AI/LLM tools, Python, or VBA would be advantageous.