Indian Markets · Regulation · Derivatives · Funds

Financial research writer for Indian markets.

I turn SEBI orders, AMFI tables, RBI and IRDAI reports, NSE data, and lived derivatives experience into sharp public-facing analysis.

Strongest at the intersection of regulation, distribution incentives, market structure, and retail behaviour. Open to research, editorial, investor-education, and capital-markets content roles.

Sources

SEBI · AMFI · RBI · IRDAI · NSE · scheme disclosures

Formats

investigations · data essays · explainers · notebook notes

Edge

regulation + market structure + lived F&O experience

Selected work

Five flagship pieces.

All work
Lab Rats

Analysis · Narrative · Comparative Regulation · F&O

Lab Rats

I was in the ninety-one percent. This piece traces what that means structurally through SEBI's loss study, the referral economy delivering traders to the product, and why the US has never applied its forex disclosure mechanism to listed options.

91% · Individual F&O traders lost money₹75,000cr · Aggregate retail net loss in FY2024
11 min read
The Due-Diligence Trail

Investigations · Data Journalism · AMFI · Mutual Funds

The Due-Diligence Trail

AMFI publishes annual commission data. The due-diligence outcomes it's supposed to trigger are in no public document. This piece builds the proxy and asks where the trail goes.

2,802 · Distributors screened30 · Survived both public filters
5 min read
Rules, Not Discretion

Analysis · Regulatory Policy · Securities Markets Code

Rules, Not Discretion

To punish one broker, SEBI must be proportionate. To redesign a market for millions, SEBI must find it expedient. The asymmetry is written into the Securities Markets Code Bill 2025.

82% · Bank Nifty weekly options turnover collapse₹4,843cr · Impounded in Jane Street interim order
7 min read
The Same Stock, Twice

Investigations · Regulatory Design · AMFI · Mutual Funds

The Same Stock, Twice

Bosch Limited was a mid-cap stock in June 2025 and a large-cap stock in December 2025. The company did not change. The AMFI reclassification list did.

₹2,87,000cr · Near-floor scheme AUM in sample40% · Reclassification churn removed by buffer band
18 min read
The Price of Forty-Five Seconds

Data Essays · Data Journalism · Personal Finance

The Price of Forty-Five Seconds

We modeled what stopping a ₹5,000/month SIP during a correction actually costs using Nifty 50 TRI data, AMFI figures, and SBI FD rates. Three corrections. One ranking: keeper first, fixed deposit second, stopper last.

₹1,38,897 · COVID crash cost of stopping3 corrections · Keeper beat stopper in the full history
4 min read

Notebook

Latest notes.

View notebook

Explainers

Market rules explained for the people they affect.

Auction Market Theory series

7-part series · Auction Market Theory

How markets find price, test it, and move on.

From a vegetable bazaar to Nifty. Seven chapters on the mechanics underneath every trade.