Institutional Equities
Meet the team
Mukul Kochhar
Head of Institutional Equities
Mukul heads Institutional Equities at Investec India. Mukul joined Investec from Espirito Santo. Prior to this, he was Associate Director at Kotak Securities. Earlier in his career, he was an Equity Research Analyst in New York - part of a two-member top-ranked IT Services team at Sanford Bernstein, and Senior Analyst covering Building Products at CIBC World Markets. Mukul worked as a management consultant in the United States advising financial companies on automating business processes. He holds a BE from BIT, Mesra. He has an MBA from IIM – Calcutta as well as from Columbia Business School, New York.
Aditya Bhartia
Head of Research
I joined Investec in February 2015 from Espirito Santo, where I was the lead analyst on Capital Goods and Infrastructure sectors for almost two years. Prior to that, I worked at CLSA, the leading broker in India, covering the same sectors. I have also worked with Execution Noble (subsequently acquired by Espirito Santo) for two years, covering the UK Industrials & Support Services sector. I'm a rank-holding Chartered Accountant and a CFA charter holder.
Aditya Bhartia
Head of Research
I joined Investec in February 2015 from Espirito Santo, where I was the lead analyst on Capital Goods and Infrastructure sectors for almost two years. Prior to that, I worked at CLSA, the leading broker in India, covering the same sectors. I have also worked with Execution Noble (subsequently acquired by Espirito Santo) for two years, covering the UK Industrials & Support Services sector. I'm a rank-holding Chartered Accountant and a CFA charter holder.
Ritesh Shah
Head of Mid-Market Research Coverage and ESG
Ritesh heads Mid-market coverage & ESG for Investec India and leads Materials coverage. He is unique combination of Engineer, Lawyer and MBA (finance). He has been consistently rated amongst top analysts for Metals & Mining/Cement/ESG categories. He loves to interact with both clients and corporates. Ritesh regularly presents on Strategy & ESG to several corporates, and is much sought for his unbiased and differentiated views. He joined Investec in February 2015, prior to which, he worked at Espirito Santo, IDFC. Ritesh also had brief stints as consultant/main frames programmer with Capgemini/Patni Computers.
Ritesh Shah
Head of Mid-Market Research Coverage and ESG
Ritesh heads Mid-market coverage & ESG for Investec India and leads Materials coverage. He is unique combination of Engineer, Lawyer and MBA (finance). He has been consistently rated amongst top analysts for Metals & Mining/Cement/ESG categories. He loves to interact with both clients and corporates. Ritesh regularly presents on Strategy & ESG to several corporates, and is much sought for his unbiased and differentiated views. He joined Investec in February 2015, prior to which, he worked at Espirito Santo, IDFC. Ritesh also had brief stints as consultant/main frames programmer with Capgemini/Patni Computers.
Mehul Thakker
Head of Sales Trading
Mehul Thakker
Head of Sales Trading
I head the trading desk at India Institutional Equities desk. With more than a decade’s experience in sales trading, I am responsible for the best execution and risk management along with building the international franchise for Equities business. Prior to Investec, I was associated with Edelweiss Securities Ltd and HSBC Securities & Capital Markets where I was responsible for sales-trading for clients based out of US & APAC region. I have a Post Graduate Diploma in Finance from SIES College of Management Studies and B.Com from R.A Podar College, India.
Mehul Thakker
Head of Sales Trading
I head the trading desk at India Institutional Equities desk. With more than a decade’s experience in sales trading, I am responsible for the best execution and risk management along with building the international franchise for Equities business. Prior to Investec, I was associated with Edelweiss Securities Ltd and HSBC Securities & Capital Markets where I was responsible for sales-trading for clients based out of US & APAC region. I have a Post Graduate Diploma in Finance from SIES College of Management Studies and B.Com from R.A Podar College, India.
Praveena Pattabiraman
Co-Head of Sales (ex-US)
I co-head sales at Investec and I am based out of and run the equities desk at Investec Singapore, covering Asian and a few large domestic clients. Prior to joining Investec, I was CEO – Ambit Singapore and managed the Asian client relations. I have also worked at the Institutional Desk at Avendus Capital and as a equity research analyst at Nomura Securities, as well as Fixed Income research desk at Lehman Brothers. I have a MBA from IIM Lucknow and Masters in Economics from Cornell University.
Praveena Pattabiraman
Co-Head of Sales (ex-US)
I co-head sales at Investec and I am based out of and run the equities desk at Investec Singapore, covering Asian and a few large domestic clients. Prior to joining Investec, I was CEO – Ambit Singapore and managed the Asian client relations. I have also worked at the Institutional Desk at Avendus Capital and as a equity research analyst at Nomura Securities, as well as Fixed Income research desk at Lehman Brothers. I have a MBA from IIM Lucknow and Masters in Economics from Cornell University.
Sunny Shah
Co-Head of Sales (ex-US)
I joined Investec in February 2015. Prior to this, I worked at Espirito Santo India as an equity salesperson for four years. Previously, I was at UBS Investment Bank as the lead analyst in Equity Capital Markets covering Real Estate, Power, Utilities and Financials in New York and Mumbai. I also worked with Citi in Fixed Income Derivatives Solutions in New York in 2007. I have a BSc in Finance and Economics from Carnegie Mellon University, USA.
Sunny Shah
Co-Head of Sales (ex-US)
I joined Investec in February 2015. Prior to this, I worked at Espirito Santo India as an equity salesperson for four years. Previously, I was at UBS Investment Bank as the lead analyst in Equity Capital Markets covering Real Estate, Power, Utilities and Financials in New York and Mumbai. I also worked with Citi in Fixed Income Derivatives Solutions in New York in 2007. I have a BSc in Finance and Economics from Carnegie Mellon University, USA.
Aditya Sheth
Equity Sales
I work at Investec Capital India as an equity salesperson. I joined Investec’s consumer, and media research team in 2017. Prior to this, I worked at Batlivala & Karani covering the Indian FMCG sector. I was the lead sub-sector analyst for alcohol beverages and Electricals. Previously, I worked as a financial analyst trainee with American Express in Paris, France. I have a Master of Science in Finance from IESEG School of Management, France and BCom from HR College, India.
Aditya Sheth
Equity Sales
I work at Investec Capital India as an equity salesperson. I joined Investec’s consumer, and media research team in 2017. Prior to this, I worked at Batlivala & Karani covering the Indian FMCG sector. I was the lead sub-sector analyst for alcohol beverages and Electricals. Previously, I worked as a financial analyst trainee with American Express in Paris, France. I have a Master of Science in Finance from IESEG School of Management, France and BCom from HR College, India.
Balaji Jayaraman
US Sales - India
North America Sales – India Specialist
Balaji (Bala) Jayaraman is the India specialist sales for selling India product to North American based Institutional Investors.
Bala has more than 20yrs experience in the capital markets working at Jefferies LLC as Pan Asia Generalist and India Specialist and Morgan Stanley in New York and Mumbai Offices prior to Investec. He also has experience working in various capacities as equity research analyst (US and India), cross-sector asset and equity sales. Bala was the Chief Financial Officer of ASK Raymond James & Associates prior to joining Morgan Stanley in 2003.
Bala is a Chartered Account, Cost Accountant, and Post Graduate Diploma in Management from Indian School of Business, Hyderabad. Bala also holds a CFA Charter holder from the CFA Institute, USA.
Balaji Jayaraman
US Sales - India
North America Sales – India Specialist
Balaji (Bala) Jayaraman is the India specialist sales for selling India product to North American based Institutional Investors.
Bala has more than 20yrs experience in the capital markets working at Jefferies LLC as Pan Asia Generalist and India Specialist and Morgan Stanley in New York and Mumbai Offices prior to Investec. He also has experience working in various capacities as equity research analyst (US and India), cross-sector asset and equity sales. Bala was the Chief Financial Officer of ASK Raymond James & Associates prior to joining Morgan Stanley in 2003.
Bala is a Chartered Account, Cost Accountant, and Post Graduate Diploma in Management from Indian School of Business, Hyderabad. Bala also holds a CFA Charter holder from the CFA Institute, USA.
Romil Bhandari
Equity Sales – India & Asia
I joined Investec’s Equity Sales desk in June 2015 from the research team where I was working in the building materials sector. From September 2014, I worked on the Fixed Income (DCM Origination) desk of the Investment Banking Division at Investec. I have an MBA from EDHEC Business School, France and I’m an alumnus of IIM - Ahmedabad.
Romil Bhandari
Equity Sales – India & Asia
I joined Investec’s Equity Sales desk in June 2015 from the research team where I was working in the building materials sector. From September 2014, I worked on the Fixed Income (DCM Origination) desk of the Investment Banking Division at Investec. I have an MBA from EDHEC Business School, France and I’m an alumnus of IIM - Ahmedabad.
Aditya Jhawar
Lead Analyst – Auto and Agri
I joined Investec in February 2015. Prior to Investec, I was part of Execution Noble for five years which was taken over by Espirito Santo. I also worked at CLSA in India for four years. Prior to that, I worked in the Audit & Assurance division of Deloitte Haskins & Sells. I'm a member of the Institute of Chartered Accountants of India and hold a Bachelors of Commerce degree from the Symbiosis College of Arts & Commerce, Pune.
Aditya Jhawar
Lead Analyst – Auto and Agri
I joined Investec in February 2015. Prior to Investec, I was part of Execution Noble for five years which was taken over by Espirito Santo. I also worked at CLSA in India for four years. Prior to that, I worked in the Audit & Assurance division of Deloitte Haskins & Sells. I'm a member of the Institute of Chartered Accountants of India and hold a Bachelors of Commerce degree from the Symbiosis College of Arts & Commerce, Pune.
Anshuman Gupta
Lead Analyst – Healthcare & Chemicals
I joined Investec in December 2017. I was voted the best health care analyst from India by AsiaMoney Brokers Poll 2020. I have over 15 years of experience in the pharma sector between financial services (both BUY / SELL side) and Indian pharma corporates. I began my career with Indian Pharma corporate at Dr Reddy’s, and later worked at Glenmark and Wockhardt. Prior to Investec, I was covering the Global Generics sector at DE Shaw & CO (BUY side) and was leading SELL side research covering the Indian pharma sector at other Indian / MNC firms. I hold a bachelor’s degree in chemical engineering and a management degree from MDI, Gurgaon.
Anshuman Gupta
Lead Analyst – Healthcare & Chemicals
I joined Investec in December 2017. I was voted the best health care analyst from India by AsiaMoney Brokers Poll 2020. I have over 15 years of experience in the pharma sector between financial services (both BUY / SELL side) and Indian pharma corporates. I began my career with Indian Pharma corporate at Dr Reddy’s, and later worked at Glenmark and Wockhardt. Prior to Investec, I was covering the Global Generics sector at DE Shaw & CO (BUY side) and was leading SELL side research covering the Indian pharma sector at other Indian / MNC firms. I hold a bachelor’s degree in chemical engineering and a management degree from MDI, Gurgaon.
Harit Kapoor
Lead Analyst – Consumer Sector
I cover the Consumer Sector for Investec India. Prior to this, I worked with IDFC securities covering various aspects of consumer sector including FMCG, Retail, Alcoholic Beverages and Paints. I have completed my MMS.
Harit Kapoor
Lead Analyst – Consumer Sector
I cover the Consumer Sector for Investec India. Prior to this, I worked with IDFC securities covering various aspects of consumer sector including FMCG, Retail, Alcoholic Beverages and Paints. I have completed my MMS.
Nidhesh Jain
Lead Analyst – NBFC and Insurance
I joined Investec in February 2015. Prior to this, I was a Banking and Financial analyst at Espirito Santo for five years. I completed my post graduate course in management from IIM Ahmedabad, one of Asia’s top business schools in 2010. I had worked with ANSYS for two years where I consulted research departments of automobile companies (GM, Ford, Honda). I did my bachelor’s in Mechanical engineering from IIT Roorkee, and I’m a CFA charter holder.
Nidhesh Jain
Lead Analyst – NBFC and Insurance
I joined Investec in February 2015. Prior to this, I was a Banking and Financial analyst at Espirito Santo for five years. I completed my post graduate course in management from IIM Ahmedabad, one of Asia’s top business schools in 2010. I had worked with ANSYS for two years where I consulted research departments of automobile companies (GM, Ford, Honda). I did my bachelor’s in Mechanical engineering from IIT Roorkee, and I’m a CFA charter holder.
Nitin Padmanabhan
Lead Analyst – IT & Telecom
Prior to joining Investec in February 2015, I was a lead analyst at Espirito Santo for three years covering a breadth of large and midcap tech stocks. Previously I was the lead IT Services analyst at Motilal Oswal Securities and with Indiabulls Securities prior to that. I have over eight years of experience covering the technology sector. I have an MBA from ICFAI Business School.
Nitin Padmanabhan
Lead Analyst – IT & Telecom
Prior to joining Investec in February 2015, I was a lead analyst at Espirito Santo for three years covering a breadth of large and midcap tech stocks. Previously I was the lead IT Services analyst at Motilal Oswal Securities and with Indiabulls Securities prior to that. I have over eight years of experience covering the technology sector. I have an MBA from ICFAI Business School.
Saharsh Maniar
Sales Trader
I have ten years of experience in the Indian Equity markets as an Institutional trader with experience in handling large basket trades. Before joining Investec, I have worked with Haitong Securities and Motilal Oswal. I am a commerce graduate from Mumbai University.
Saharsh Maniar
Sales Trader
I have ten years of experience in the Indian Equity markets as an Institutional trader with experience in handling large basket trades. Before joining Investec, I have worked with Haitong Securities and Motilal Oswal. I am a commerce graduate from Mumbai University.
Swapna Bhandarkar
Lead – Corporate Access
I joined Investec in June 2018. I lead the corporate access initiatives for Investec with a focus on bringing quality access to our clients. Prior to Investec, I was heading corporate communications for ICICI Securities for 10 years and Hexaware Technologies for three years. I have also worked with the Times Group as a journalist. I hold a MSc in Statistics from Mumbai University.
Swapna Bhandarkar
Lead – Corporate Access
I joined Investec in June 2018. I lead the corporate access initiatives for Investec with a focus on bringing quality access to our clients. Prior to Investec, I was heading corporate communications for ICICI Securities for 10 years and Hexaware Technologies for three years. I have also worked with the Times Group as a journalist. I hold a MSc in Statistics from Mumbai University.
Tejas Shah
Alternative & Quant Research
Tejas Shah
Alternative & Quant Research
I joined Investec India Equities team in October 2020 as Alternative and Quant Research analyst. Prior to Investec, I worked at CGS-CIMB Securities India and Edelweiss Institutional Equities. I have a Post Graduate Diploma in Finance from Mumbai Educational Trust and M.Com from Mumbai University.
Tejas Shah
Alternative & Quant Research
I joined Investec India Equities team in October 2020 as Alternative and Quant Research analyst. Prior to Investec, I worked at CGS-CIMB Securities India and Edelweiss Institutional Equities. I have a Post Graduate Diploma in Finance from Mumbai Educational Trust and M.Com from Mumbai University.
Pranay Mehta
Equity Sales – Domestic Funds
Pranay has close to a decade of experience across various industries including Indian Equities and Real Estate consulting. Prior to joining Investec, Pranay worked with HDFC Securities and Jones Lang LaSalle. He holds a Bachelors degree in Financial Markets as well as a degree in Law.
Pranay Mehta
Equity Sales – Domestic Funds
Pranay has close to a decade of experience across various industries including Indian Equities and Real Estate consulting. Prior to joining Investec, Pranay worked with HDFC Securities and Jones Lang LaSalle. He holds a Bachelors degree in Financial Markets as well as a degree in Law.
Ashay Shah
Equity Sales – Domestic Funds
Ashay focuses on domestic funds. He has extensive knowledge of the Indian equity markets. Ashay joined Investec in 2021, prior to which he was a consultant in the chemicals sector at Haitong Securities & a relationship manager in Valorem Advisors. He graduated from S. P. Jain School of Global Management specializing in Global Finance.
Ashay Shah
Equity Sales – Domestic Funds
Ashay focuses on domestic funds. He has extensive knowledge of the Indian equity markets. Ashay joined Investec in 2021, prior to which he was a consultant in the chemicals sector at Haitong Securities & a relationship manager in Valorem Advisors. He graduated from S. P. Jain School of Global Management specializing in Global Finance.
Aditya Bhartia
Head of Research
I joined Investec in February 2015 from Espirito Santo, where I was the lead analyst on Capital Goods and Infrastructure sectors for almost two years. Prior to that, I worked at CLSA, the leading broker in India, covering the same sectors. I have also worked with Execution Noble (subsequently acquired by Espirito Santo) for two years, covering the UK Industrials & Support Services sector. I'm a rank-holding Chartered Accountant and a CFA charter holder.
Aditya Bhartia
Head of Research
I joined Investec in February 2015 from Espirito Santo, where I was the lead analyst on Capital Goods and Infrastructure sectors for almost two years. Prior to that, I worked at CLSA, the leading broker in India, covering the same sectors. I have also worked with Execution Noble (subsequently acquired by Espirito Santo) for two years, covering the UK Industrials & Support Services sector. I'm a rank-holding Chartered Accountant and a CFA charter holder.
Ritesh Shah
Head of Mid-Market Research Coverage and ESG
Ritesh heads Mid-market coverage & ESG for Investec India and leads Materials coverage. He is unique combination of Engineer, Lawyer and MBA (finance). He has been consistently rated amongst top analysts for Metals & Mining/Cement/ESG categories. He loves to interact with both clients and corporates. Ritesh regularly presents on Strategy & ESG to several corporates, and is much sought for his unbiased and differentiated views. He joined Investec in February 2015, prior to which, he worked at Espirito Santo, IDFC. Ritesh also had brief stints as consultant/main frames programmer with Capgemini/Patni Computers.
Ritesh Shah
Head of Mid-Market Research Coverage and ESG
Ritesh heads Mid-market coverage & ESG for Investec India and leads Materials coverage. He is unique combination of Engineer, Lawyer and MBA (finance). He has been consistently rated amongst top analysts for Metals & Mining/Cement/ESG categories. He loves to interact with both clients and corporates. Ritesh regularly presents on Strategy & ESG to several corporates, and is much sought for his unbiased and differentiated views. He joined Investec in February 2015, prior to which, he worked at Espirito Santo, IDFC. Ritesh also had brief stints as consultant/main frames programmer with Capgemini/Patni Computers.
Mehul Thakker
Head of Sales Trading
Mehul Thakker
Head of Sales Trading
I head the trading desk at India Institutional Equities desk. With more than a decade’s experience in sales trading, I am responsible for the best execution and risk management along with building the international franchise for Equities business. Prior to Investec, I was associated with Edelweiss Securities Ltd and HSBC Securities & Capital Markets where I was responsible for sales-trading for clients based out of US & APAC region. I have a Post Graduate Diploma in Finance from SIES College of Management Studies and B.Com from R.A Podar College, India.
Mehul Thakker
Head of Sales Trading
I head the trading desk at India Institutional Equities desk. With more than a decade’s experience in sales trading, I am responsible for the best execution and risk management along with building the international franchise for Equities business. Prior to Investec, I was associated with Edelweiss Securities Ltd and HSBC Securities & Capital Markets where I was responsible for sales-trading for clients based out of US & APAC region. I have a Post Graduate Diploma in Finance from SIES College of Management Studies and B.Com from R.A Podar College, India.
Praveena Pattabiraman
Co-Head of Sales (ex-US)
I co-head sales at Investec and I am based out of and run the equities desk at Investec Singapore, covering Asian and a few large domestic clients. Prior to joining Investec, I was CEO – Ambit Singapore and managed the Asian client relations. I have also worked at the Institutional Desk at Avendus Capital and as a equity research analyst at Nomura Securities, as well as Fixed Income research desk at Lehman Brothers. I have a MBA from IIM Lucknow and Masters in Economics from Cornell University.
Praveena Pattabiraman
Co-Head of Sales (ex-US)
I co-head sales at Investec and I am based out of and run the equities desk at Investec Singapore, covering Asian and a few large domestic clients. Prior to joining Investec, I was CEO – Ambit Singapore and managed the Asian client relations. I have also worked at the Institutional Desk at Avendus Capital and as a equity research analyst at Nomura Securities, as well as Fixed Income research desk at Lehman Brothers. I have a MBA from IIM Lucknow and Masters in Economics from Cornell University.
Sunny Shah
Co-Head of Sales (ex-US)
I joined Investec in February 2015. Prior to this, I worked at Espirito Santo India as an equity salesperson for four years. Previously, I was at UBS Investment Bank as the lead analyst in Equity Capital Markets covering Real Estate, Power, Utilities and Financials in New York and Mumbai. I also worked with Citi in Fixed Income Derivatives Solutions in New York in 2007. I have a BSc in Finance and Economics from Carnegie Mellon University, USA.
Sunny Shah
Co-Head of Sales (ex-US)
I joined Investec in February 2015. Prior to this, I worked at Espirito Santo India as an equity salesperson for four years. Previously, I was at UBS Investment Bank as the lead analyst in Equity Capital Markets covering Real Estate, Power, Utilities and Financials in New York and Mumbai. I also worked with Citi in Fixed Income Derivatives Solutions in New York in 2007. I have a BSc in Finance and Economics from Carnegie Mellon University, USA.
Aditya Sheth
Equity Sales
I work at Investec Capital India as an equity salesperson. I joined Investec’s consumer, and media research team in 2017. Prior to this, I worked at Batlivala & Karani covering the Indian FMCG sector. I was the lead sub-sector analyst for alcohol beverages and Electricals. Previously, I worked as a financial analyst trainee with American Express in Paris, France. I have a Master of Science in Finance from IESEG School of Management, France and BCom from HR College, India.
Aditya Sheth
Equity Sales
I work at Investec Capital India as an equity salesperson. I joined Investec’s consumer, and media research team in 2017. Prior to this, I worked at Batlivala & Karani covering the Indian FMCG sector. I was the lead sub-sector analyst for alcohol beverages and Electricals. Previously, I worked as a financial analyst trainee with American Express in Paris, France. I have a Master of Science in Finance from IESEG School of Management, France and BCom from HR College, India.
Balaji Jayaraman
US Sales - India
North America Sales – India Specialist
Balaji (Bala) Jayaraman is the India specialist sales for selling India product to North American based Institutional Investors.
Bala has more than 20yrs experience in the capital markets working at Jefferies LLC as Pan Asia Generalist and India Specialist and Morgan Stanley in New York and Mumbai Offices prior to Investec. He also has experience working in various capacities as equity research analyst (US and India), cross-sector asset and equity sales. Bala was the Chief Financial Officer of ASK Raymond James & Associates prior to joining Morgan Stanley in 2003.
Bala is a Chartered Account, Cost Accountant, and Post Graduate Diploma in Management from Indian School of Business, Hyderabad. Bala also holds a CFA Charter holder from the CFA Institute, USA.
Balaji Jayaraman
US Sales - India
North America Sales – India Specialist
Balaji (Bala) Jayaraman is the India specialist sales for selling India product to North American based Institutional Investors.
Bala has more than 20yrs experience in the capital markets working at Jefferies LLC as Pan Asia Generalist and India Specialist and Morgan Stanley in New York and Mumbai Offices prior to Investec. He also has experience working in various capacities as equity research analyst (US and India), cross-sector asset and equity sales. Bala was the Chief Financial Officer of ASK Raymond James & Associates prior to joining Morgan Stanley in 2003.
Bala is a Chartered Account, Cost Accountant, and Post Graduate Diploma in Management from Indian School of Business, Hyderabad. Bala also holds a CFA Charter holder from the CFA Institute, USA.
Romil Bhandari
Equity Sales – India & Asia
I joined Investec’s Equity Sales desk in June 2015 from the research team where I was working in the building materials sector. From September 2014, I worked on the Fixed Income (DCM Origination) desk of the Investment Banking Division at Investec. I have an MBA from EDHEC Business School, France and I’m an alumnus of IIM - Ahmedabad.
Romil Bhandari
Equity Sales – India & Asia
I joined Investec’s Equity Sales desk in June 2015 from the research team where I was working in the building materials sector. From September 2014, I worked on the Fixed Income (DCM Origination) desk of the Investment Banking Division at Investec. I have an MBA from EDHEC Business School, France and I’m an alumnus of IIM - Ahmedabad.
Aditya Jhawar
Lead Analyst – Auto and Agri
I joined Investec in February 2015. Prior to Investec, I was part of Execution Noble for five years which was taken over by Espirito Santo. I also worked at CLSA in India for four years. Prior to that, I worked in the Audit & Assurance division of Deloitte Haskins & Sells. I'm a member of the Institute of Chartered Accountants of India and hold a Bachelors of Commerce degree from the Symbiosis College of Arts & Commerce, Pune.
Aditya Jhawar
Lead Analyst – Auto and Agri
I joined Investec in February 2015. Prior to Investec, I was part of Execution Noble for five years which was taken over by Espirito Santo. I also worked at CLSA in India for four years. Prior to that, I worked in the Audit & Assurance division of Deloitte Haskins & Sells. I'm a member of the Institute of Chartered Accountants of India and hold a Bachelors of Commerce degree from the Symbiosis College of Arts & Commerce, Pune.
Anshuman Gupta
Lead Analyst – Healthcare & Chemicals
I joined Investec in December 2017. I was voted the best health care analyst from India by AsiaMoney Brokers Poll 2020. I have over 15 years of experience in the pharma sector between financial services (both BUY / SELL side) and Indian pharma corporates. I began my career with Indian Pharma corporate at Dr Reddy’s, and later worked at Glenmark and Wockhardt. Prior to Investec, I was covering the Global Generics sector at DE Shaw & CO (BUY side) and was leading SELL side research covering the Indian pharma sector at other Indian / MNC firms. I hold a bachelor’s degree in chemical engineering and a management degree from MDI, Gurgaon.
Anshuman Gupta
Lead Analyst – Healthcare & Chemicals
I joined Investec in December 2017. I was voted the best health care analyst from India by AsiaMoney Brokers Poll 2020. I have over 15 years of experience in the pharma sector between financial services (both BUY / SELL side) and Indian pharma corporates. I began my career with Indian Pharma corporate at Dr Reddy’s, and later worked at Glenmark and Wockhardt. Prior to Investec, I was covering the Global Generics sector at DE Shaw & CO (BUY side) and was leading SELL side research covering the Indian pharma sector at other Indian / MNC firms. I hold a bachelor’s degree in chemical engineering and a management degree from MDI, Gurgaon.
Harit Kapoor
Lead Analyst – Consumer Sector
I cover the Consumer Sector for Investec India. Prior to this, I worked with IDFC securities covering various aspects of consumer sector including FMCG, Retail, Alcoholic Beverages and Paints. I have completed my MMS.
Harit Kapoor
Lead Analyst – Consumer Sector
I cover the Consumer Sector for Investec India. Prior to this, I worked with IDFC securities covering various aspects of consumer sector including FMCG, Retail, Alcoholic Beverages and Paints. I have completed my MMS.
Nidhesh Jain
Lead Analyst – NBFC and Insurance
I joined Investec in February 2015. Prior to this, I was a Banking and Financial analyst at Espirito Santo for five years. I completed my post graduate course in management from IIM Ahmedabad, one of Asia’s top business schools in 2010. I had worked with ANSYS for two years where I consulted research departments of automobile companies (GM, Ford, Honda). I did my bachelor’s in Mechanical engineering from IIT Roorkee, and I’m a CFA charter holder.
Nidhesh Jain
Lead Analyst – NBFC and Insurance
I joined Investec in February 2015. Prior to this, I was a Banking and Financial analyst at Espirito Santo for five years. I completed my post graduate course in management from IIM Ahmedabad, one of Asia’s top business schools in 2010. I had worked with ANSYS for two years where I consulted research departments of automobile companies (GM, Ford, Honda). I did my bachelor’s in Mechanical engineering from IIT Roorkee, and I’m a CFA charter holder.
Nitin Padmanabhan
Lead Analyst – IT & Telecom
Prior to joining Investec in February 2015, I was a lead analyst at Espirito Santo for three years covering a breadth of large and midcap tech stocks. Previously I was the lead IT Services analyst at Motilal Oswal Securities and with Indiabulls Securities prior to that. I have over eight years of experience covering the technology sector. I have an MBA from ICFAI Business School.
Nitin Padmanabhan
Lead Analyst – IT & Telecom
Prior to joining Investec in February 2015, I was a lead analyst at Espirito Santo for three years covering a breadth of large and midcap tech stocks. Previously I was the lead IT Services analyst at Motilal Oswal Securities and with Indiabulls Securities prior to that. I have over eight years of experience covering the technology sector. I have an MBA from ICFAI Business School.
Saharsh Maniar
Sales Trader
I have ten years of experience in the Indian Equity markets as an Institutional trader with experience in handling large basket trades. Before joining Investec, I have worked with Haitong Securities and Motilal Oswal. I am a commerce graduate from Mumbai University.
Saharsh Maniar
Sales Trader
I have ten years of experience in the Indian Equity markets as an Institutional trader with experience in handling large basket trades. Before joining Investec, I have worked with Haitong Securities and Motilal Oswal. I am a commerce graduate from Mumbai University.
Swapna Bhandarkar
Lead – Corporate Access
I joined Investec in June 2018. I lead the corporate access initiatives for Investec with a focus on bringing quality access to our clients. Prior to Investec, I was heading corporate communications for ICICI Securities for 10 years and Hexaware Technologies for three years. I have also worked with the Times Group as a journalist. I hold a MSc in Statistics from Mumbai University.
Swapna Bhandarkar
Lead – Corporate Access
I joined Investec in June 2018. I lead the corporate access initiatives for Investec with a focus on bringing quality access to our clients. Prior to Investec, I was heading corporate communications for ICICI Securities for 10 years and Hexaware Technologies for three years. I have also worked with the Times Group as a journalist. I hold a MSc in Statistics from Mumbai University.
Tejas Shah
Alternative & Quant Research
Tejas Shah
Alternative & Quant Research
I joined Investec India Equities team in October 2020 as Alternative and Quant Research analyst. Prior to Investec, I worked at CGS-CIMB Securities India and Edelweiss Institutional Equities. I have a Post Graduate Diploma in Finance from Mumbai Educational Trust and M.Com from Mumbai University.
Tejas Shah
Alternative & Quant Research
I joined Investec India Equities team in October 2020 as Alternative and Quant Research analyst. Prior to Investec, I worked at CGS-CIMB Securities India and Edelweiss Institutional Equities. I have a Post Graduate Diploma in Finance from Mumbai Educational Trust and M.Com from Mumbai University.
Pranay Mehta
Equity Sales – Domestic Funds
Pranay has close to a decade of experience across various industries including Indian Equities and Real Estate consulting. Prior to joining Investec, Pranay worked with HDFC Securities and Jones Lang LaSalle. He holds a Bachelors degree in Financial Markets as well as a degree in Law.
Pranay Mehta
Equity Sales – Domestic Funds
Pranay has close to a decade of experience across various industries including Indian Equities and Real Estate consulting. Prior to joining Investec, Pranay worked with HDFC Securities and Jones Lang LaSalle. He holds a Bachelors degree in Financial Markets as well as a degree in Law.
Ashay Shah
Equity Sales – Domestic Funds
Ashay focuses on domestic funds. He has extensive knowledge of the Indian equity markets. Ashay joined Investec in 2021, prior to which he was a consultant in the chemicals sector at Haitong Securities & a relationship manager in Valorem Advisors. He graduated from S. P. Jain School of Global Management specializing in Global Finance.
Ashay Shah
Equity Sales – Domestic Funds
Ashay focuses on domestic funds. He has extensive knowledge of the Indian equity markets. Ashay joined Investec in 2021, prior to which he was a consultant in the chemicals sector at Haitong Securities & a relationship manager in Valorem Advisors. He graduated from S. P. Jain School of Global Management specializing in Global Finance.
Aditya Bhartia
Head of Research
I joined Investec in February 2015 from Espirito Santo, where I was the lead analyst on Capital Goods and Infrastructure sectors for almost two years. Prior to that, I worked at CLSA, the leading broker in India, covering the same sectors. I have also worked with Execution Noble (subsequently acquired by Espirito Santo) for two years, covering the UK Industrials & Support Services sector. I'm a rank-holding Chartered Accountant and a CFA charter holder.
Ritesh Shah
Head of Mid-Market Research Coverage and ESG
Ritesh heads Mid-market coverage & ESG for Investec India and leads Materials coverage. He is unique combination of Engineer, Lawyer and MBA (finance). He has been consistently rated amongst top analysts for Metals & Mining/Cement/ESG categories. He loves to interact with both clients and corporates. Ritesh regularly presents on Strategy & ESG to several corporates, and is much sought for his unbiased and differentiated views. He joined Investec in February 2015, prior to which, he worked at Espirito Santo, IDFC. Ritesh also had brief stints as consultant/main frames programmer with Capgemini/Patni Computers.
Mehul Thakker
Head of Sales Trading
I head the trading desk at India Institutional Equities desk. With more than a decade’s experience in sales trading, I am responsible for the best execution and risk management along with building the international franchise for Equities business. Prior to Investec, I was associated with Edelweiss Securities Ltd and HSBC Securities & Capital Markets where I was responsible for sales-trading for clients based out of US & APAC region. I have a Post Graduate Diploma in Finance from SIES College of Management Studies and B.Com from R.A Podar College, India.
Praveena Pattabiraman
Co-Head of Sales (ex-US)
I co-head sales at Investec and I am based out of and run the equities desk at Investec Singapore, covering Asian and a few large domestic clients. Prior to joining Investec, I was CEO – Ambit Singapore and managed the Asian client relations. I have also worked at the Institutional Desk at Avendus Capital and as a equity research analyst at Nomura Securities, as well as Fixed Income research desk at Lehman Brothers. I have a MBA from IIM Lucknow and Masters in Economics from Cornell University.
Sunny Shah
Co-Head of Sales (ex-US)
I joined Investec in February 2015. Prior to this, I worked at Espirito Santo India as an equity salesperson for four years. Previously, I was at UBS Investment Bank as the lead analyst in Equity Capital Markets covering Real Estate, Power, Utilities and Financials in New York and Mumbai. I also worked with Citi in Fixed Income Derivatives Solutions in New York in 2007. I have a BSc in Finance and Economics from Carnegie Mellon University, USA.
Aditya Sheth
Equity Sales
I work at Investec Capital India as an equity salesperson. I joined Investec’s consumer, and media research team in 2017. Prior to this, I worked at Batlivala & Karani covering the Indian FMCG sector. I was the lead sub-sector analyst for alcohol beverages and Electricals. Previously, I worked as a financial analyst trainee with American Express in Paris, France. I have a Master of Science in Finance from IESEG School of Management, France and BCom from HR College, India.
Balaji Jayaraman
US Sales - India
North America Sales – India Specialist
Balaji (Bala) Jayaraman is the India specialist sales for selling India product to North American based Institutional Investors.
Bala has more than 20yrs experience in the capital markets working at Jefferies LLC as Pan Asia Generalist and India Specialist and Morgan Stanley in New York and Mumbai Offices prior to Investec. He also has experience working in various capacities as equity research analyst (US and India), cross-sector asset and equity sales. Bala was the Chief Financial Officer of ASK Raymond James & Associates prior to joining Morgan Stanley in 2003.
Bala is a Chartered Account, Cost Accountant, and Post Graduate Diploma in Management from Indian School of Business, Hyderabad. Bala also holds a CFA Charter holder from the CFA Institute, USA.
Romil Bhandari
Equity Sales – India & Asia
I joined Investec’s Equity Sales desk in June 2015 from the research team where I was working in the building materials sector. From September 2014, I worked on the Fixed Income (DCM Origination) desk of the Investment Banking Division at Investec. I have an MBA from EDHEC Business School, France and I’m an alumnus of IIM - Ahmedabad.
Aditya Jhawar
Lead Analyst – Auto and Agri
I joined Investec in February 2015. Prior to Investec, I was part of Execution Noble for five years which was taken over by Espirito Santo. I also worked at CLSA in India for four years. Prior to that, I worked in the Audit & Assurance division of Deloitte Haskins & Sells. I'm a member of the Institute of Chartered Accountants of India and hold a Bachelors of Commerce degree from the Symbiosis College of Arts & Commerce, Pune.
Anshuman Gupta
Lead Analyst – Healthcare & Chemicals
I joined Investec in December 2017. I was voted the best health care analyst from India by AsiaMoney Brokers Poll 2020. I have over 15 years of experience in the pharma sector between financial services (both BUY / SELL side) and Indian pharma corporates. I began my career with Indian Pharma corporate at Dr Reddy’s, and later worked at Glenmark and Wockhardt. Prior to Investec, I was covering the Global Generics sector at DE Shaw & CO (BUY side) and was leading SELL side research covering the Indian pharma sector at other Indian / MNC firms. I hold a bachelor’s degree in chemical engineering and a management degree from MDI, Gurgaon.
Harit Kapoor
Lead Analyst – Consumer Sector
I cover the Consumer Sector for Investec India. Prior to this, I worked with IDFC securities covering various aspects of consumer sector including FMCG, Retail, Alcoholic Beverages and Paints. I have completed my MMS.
Nidhesh Jain
Lead Analyst – NBFC and Insurance
I joined Investec in February 2015. Prior to this, I was a Banking and Financial analyst at Espirito Santo for five years. I completed my post graduate course in management from IIM Ahmedabad, one of Asia’s top business schools in 2010. I had worked with ANSYS for two years where I consulted research departments of automobile companies (GM, Ford, Honda). I did my bachelor’s in Mechanical engineering from IIT Roorkee, and I’m a CFA charter holder.
Nitin Padmanabhan
Lead Analyst – IT & Telecom
Prior to joining Investec in February 2015, I was a lead analyst at Espirito Santo for three years covering a breadth of large and midcap tech stocks. Previously I was the lead IT Services analyst at Motilal Oswal Securities and with Indiabulls Securities prior to that. I have over eight years of experience covering the technology sector. I have an MBA from ICFAI Business School.
Saharsh Maniar
Sales Trader
I have ten years of experience in the Indian Equity markets as an Institutional trader with experience in handling large basket trades. Before joining Investec, I have worked with Haitong Securities and Motilal Oswal. I am a commerce graduate from Mumbai University.
Swapna Bhandarkar
Lead – Corporate Access
I joined Investec in June 2018. I lead the corporate access initiatives for Investec with a focus on bringing quality access to our clients. Prior to Investec, I was heading corporate communications for ICICI Securities for 10 years and Hexaware Technologies for three years. I have also worked with the Times Group as a journalist. I hold a MSc in Statistics from Mumbai University.
Tejas Shah
Alternative & Quant Research
I joined Investec India Equities team in October 2020 as Alternative and Quant Research analyst. Prior to Investec, I worked at CGS-CIMB Securities India and Edelweiss Institutional Equities. I have a Post Graduate Diploma in Finance from Mumbai Educational Trust and M.Com from Mumbai University.
Pranay Mehta
Equity Sales – Domestic Funds
Pranay has close to a decade of experience across various industries including Indian Equities and Real Estate consulting. Prior to joining Investec, Pranay worked with HDFC Securities and Jones Lang LaSalle. He holds a Bachelors degree in Financial Markets as well as a degree in Law.
Ashay Shah
Equity Sales – Domestic Funds
Ashay focuses on domestic funds. He has extensive knowledge of the Indian equity markets. Ashay joined Investec in 2021, prior to which he was a consultant in the chemicals sector at Haitong Securities & a relationship manager in Valorem Advisors. He graduated from S. P. Jain School of Global Management specializing in Global Finance.