Research Analyst
A SEBI-registered person or entity that publishes research reports and recommendations on securities.
How it is identified
Test: the person holds a SEBI registration as a research analyst and complies with the disclosure and conduct requirements for published research
Unit
qualitative
In depth
The registration requirement exists because unregistered stock recommendations proliferated on social media, often from people holding the very positions they promoted. Registered analysts must disclose their own and their associates' holdings in the securities covered, any compensation from the issuer, and the basis of the recommendation. That disclosure paragraph, usually at the end of the report, is the most informative part for assessing conflict. A recommendation without such disclosure and without a registration number should be treated as promotion rather than research, whatever its presentation.
Worked example
A report ends with a disclosure that the analyst's associates hold the stock covered. That does not invalidate the analysis, and knowing it is why the disclosure is mandatory rather than optional.
Illustrative figures, chosen so the arithmetic is easy to follow. Not a live price and not a valuation of any company.
Educational reference only
This entry explains what “Research Analyst” means. It is not investment advice and not a recommendation to buy or sell any security. Any numbers above are illustrative, not live prices, and nothing here predicts price direction or rates a stock. Consider your own circumstances and consult a SEBI-registered investment adviser before acting.