Research Associate

HSBC Holdings plc; Mumbai; On-site; INR 1,500,000 - 2,700,000; Full time

Job summary

HSBC Securities and Capital Markets (India) Private Limited is seeking a Research Associate to join our Institutional Equities team covering Metals & Mining, Cement and Defence stocks in India. You will work with a seasoned lead analyst to develop detailed company analyses and macro views, while building robust industry models.

The role emphasises producing quality research, identifying key industry trends, and engaging senior stakeholders.

Qualifications

• 2-4 years of work-experience in sell-side equity research.
• Experience covering Metals & Mining, Cement and Defence preferred.
• Excellent communications skills with fluency in English.

Responsibilities

• Explore detailed company analysis and macro views; build/maintain industry models.
• Assist in producing research products: industry themes, company initiations, updates.
• Engage with senior stakeholders and host events/roadshows for HSBC clients.

Skills

Communication skills

Fluent English

Education

CA/CFA/MBA from Tier I Institutions

Job description

Area of Interest: Investment Banking, Markets, and Research

Role Workstyle: Office Worker

Date: 7 Oct 2026

Some careers open more doors than others.

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

Business Descriptor:

We are seeking a highly motivated candidate to join our Institutional Equities team as a Research Associate. You will be working with a seasoned writing lead analyst covering research on Metals & Mining, Cement and Defence sector stocks in India.

HSBC Global Research is an independent research house with a strong focus on Emerging Markets (EMs). We have 350 analysts covering 1,900+ companies, 60+ economies, 45+ sovereigns’ rates and 50+ currencies globally. Our analysts, based out of 24 countries, are spread across Asia-Pacific, Europe, the Americas, the Middle East and Africa. With a particular focus on EMs, as well as climate change issues, we provide regular comment and analysis on topics including economics, currencies, fixed income and equities. Our goal is to generate unrivalled investment opportunities for our clients by sharing our insights and creating thought-provoking ideas.

Key roles and responsibilities:

• You will have the opportunity to explore highly detailed company analysis in addition to gaining a wider, macro level view on the sector. You will have the opportunity to leverage your primary and secondary research skills to build and maintain industry models. You will also assist in building and maintenance of company financial models.


• You will assist the writing analyst in producing quality research products such as industry thematic, company initiation and cover periodical updates on the sector. Your research efforts will be focused in identifying key industry trends and exciting investment ideas within your research scope.


• You will have the opportunity to engage with senior stakeholders within the sector of your coverage and within the fund management industry. You will have the opportunity to build strong relationships with Industry experts and leverage such relationships to augment research by hosting thematic events and non-deal roadshows for HSBC clients.

Key requirements for the role:

• This role is for experienced candidates with 2-4 years of work-experience in sell-side equity research. Candidates with past research experience covering Metals & Mining, Cement and Defence will be preferred.


• Candidates should have excellent communications skills along with fluency in English language.


• Educational qualifications: CA/CFA/MBA from Tier I Institutions.


• Candidate should have strong team ethics, entrepreneurial mindset and, desire to work within a fast-paced environment.


• Minimum Graduation or as required for the role, whichever is higher

Note:

As an employee, you are required to perform your duties in a professional capacity exercising independent judgement, discretion and decision-making authority in planning, organising, directing work, supervising and appraising the work of team members, as applicable; and taking accountability for delivery outcomes. You will represent the organization with relevant internal and external stakeholders. You will allocate and prioritize work, provide direction and feedback, manage team capacity and leave in line with policy as applicable.

• Pro-tip : Familiarity with AI-enabled tools is an advantage.

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working and opportunities to grow within an inclusive and diverse environment.

Personal data held by HSBC relating to employment applications will be used in accordance with our Privacy Statement, which is available on our website.

Issued by HSBC Securities and Capital Markets (India) Private Limited