Delhi NCR has a large base of independent Research Analysts and advisory practices serving North-India investors, plus a growing Gurugram and Noida fintech scene. Most run on a spreadsheet and a broadcast channel, which is exactly where the Regulation 25 record-keeping gap opens up.
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Counted from SEBI's register as on 1 Nov 2026, by the city in each firm's registered record. Browse the Research Analysts registered in Delhi.
A Delhi NCR practice serving retail and HNI clients across sectors needs each note routed to the clients who hold the stock, not a broadcast to everyone.
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Delhi NCR's compliance ecosystem spans two distinct hubs: the older chartered-accountancy and legal-advisory practices around Connaught Place and Nehru Place that have served North India's trading and broking community for decades, and the newer corporate compliance and consulting firms clustered in Gurugram's Cyber City and DLF business districts, many of which already work with SEBI-registered intermediaries. A Delhi NCR RA has access to both without leaving the region.
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