DEAR Finance

Data-driven Equity Analysis & Research - An Independent Financial Research Firm

Independent, unbiased research

Independent Equity Research

Research that helps you understand the opportunity, the business, the price and the catalyst.

Investing is rarely about finding a stock name in isolation.

A well-informed investment decision requires understanding where the opportunity exists, whether the underlying business is attractive, whether the current market price offers a reasonable risk-reward, and whether a specific catalyst could materially change the investment thesis.

Our research is therefore structured into five distinct research products, each designed to answer a different investment question.

You can purchase individual research reports on a one-time basis, or choose a subscription plan for ongoing access to our research.

Explore research options

What this service is — and is not

DEAR Finance is a SEBI-registered Research Analyst. We publish independent research on securities and, where applicable, a buy, hold or sell view supported by documented analysis.

What we do not do

  • Investment advisory services, or advice tailored to your personal circumstances
  • Portfolio management services
  • Executing transactions, or trading on your behalf
  • Holding or handling your funds or your securities

Our research is published to the clients of the relevant research product and is not tailored to any individual’s circumstances, objectives or risk tolerance.

Full regulatory scope and investor protections

01

Our Five Research Products

Each research product has a distinct purpose.

ResearchThe Question It Answers
Sector IntelligenceWhere should I look for opportunities?
Company IntelligenceIs this business fundamentally attractive?
Investment IntelligenceIs this stock attractive at its current price?
360° Equity ResearchShould I consider this stock after looking at the complete picture?
Thematic & Special Situation ResearchIs a specific event, theme or catalyst creating an opportunity?

This means you can purchase only the research that is relevant to your investment objective — or combine them through our subscription plans.

02

Which research answers my question?

Which one should I buy?

If this is your questionStart here
I want to understand which sectors are attractive.Sector Intelligence
I already have a company in mind and want to understand the business.Company Intelligence
I know the company but want to assess valuation, price and risk-reward.Investment Intelligence
I want the complete investment assessment.360° Equity Research
I want to investigate a particular event, theme, corporate action or catalyst.Thematic & Special Situation Research

Why choose individual research?

You may already have a clear investment question.

For example:

  • “I am interested in the banking sector.”
    Sector Intelligence
  • “I want to understand this particular company.”
    Company Intelligence
  • “I know the company is good, but I am unsure whether the current price is attractive.”
    Investment Intelligence
  • “I want the complete analysis before taking an investment decision.”
    360° Equity Research
  • “There has been a demerger/regulatory change/M&A announcement. Could this create an opportunity?”
    Thematic & Special Situation Research

You pay only for the research relevant to your requirement.

Find the sectors where opportunity may be emerging.

Understand the business before you buy the stock.

Determine whether the stock is attractive at the price the market is offering.

The complete investment assessment.

Find opportunities created by change, events and catalysts.

Enquire about a research product

03

How the five research products work together

The products are designed to be complementary, but they are not the same report divided into five parts.

Thematic & Special Situation Research
WHAT NEW EVENT, CHANGE OR CATALYST COULD CREATE AN OPPORTUNITY?

Thematic & Special Situation Research can therefore be purchased independently and does not require the investor to have purchased the other research products.

04

Research subscription plans

For investors who want continuing access to our research.

Instead of purchasing individual reports, subscribers can choose a plan based on the breadth and depth of research they require.

The plans are designed so that each level provides a clear increase in research coverage.

Essential

For investors who want sector-level and thematic intelligence.

Fees on request

Included

  • Sector Intelligence
  • Thematic & Special Situation Research
  • Research updates relating to included research
  • Access to the research archive applicable to the plan

Not included

  • Company Intelligence
  • Investment Intelligence
  • 360° Equity Research

Best suited for

Investors who primarily want to understand where opportunities are emerging and what major themes or developments could affect markets and industries.

Professional

Our recommended plan for serious self-directed investors.

Fees on request

Included

  • Sector Intelligence
  • Company Intelligence
  • Investment Intelligence
  • Thematic & Special Situation Research
  • Research updates relating to included research
  • Access to the research archive

Not included

  • 360° Equity Research

Best suited for

Investors who want regular access to research covering sectors, companies, valuation, market behaviour, and themes and catalysts.

This plan is designed for investors who conduct their own investment decisions but want access to a broader and deeper independent research framework.

Premium

Complete access to our research ecosystem.

Fees on request

Included

  • Sector Intelligence
  • Company Intelligence
  • Investment Intelligence
  • 360° Equity Research
  • Thematic & Special Situation Research
  • Research updates relating to included research
  • Full research archive

Best suited for

Investors who want the complete research framework: macro, sector, company, fundamentals, valuation, technicals, risk/reward, catalysts and investment thesis.

Premium is designed for investors who want our most comprehensive research coverage without purchasing individual reports separately.

Subscription comparison
FeatureEssentialProfessionalPremium
Sector IntelligenceIncludedIncludedIncluded
Company IntelligenceNot includedIncludedIncluded
Investment IntelligenceNot includedIncludedIncluded
360° Equity ResearchNot includedNot includedIncluded
Thematic & Special SituationIncludedIncludedIncluded
Relevant Research UpdatesIncludedIncludedIncluded
Research ArchiveIncluded categoriesIncludedIncluded

Why choose a subscription?

A subscription is designed for investors whose research needs are ongoing rather than one-off.

Instead of repeatedly purchasing individual reports, subscribers receive access to the research categories included in their chosen plan as new research is published.

The higher plans provide access to a broader range of research, culminating in Premium, which includes our complete research offering.

Discuss your research requirement

05

One-time or ongoing?

You do not need a subscription to purchase an individual research report.

Choose one-time research if:

  • You need research on a specific company or sector.
  • You want to evaluate a particular investment before committing to a subscription.
  • You are interested in a specific thematic or special situation.
  • You only require research occasionally.

Choose a subscription if:

  • You want continuous access to our research.
  • You regularly evaluate new investment opportunities.
  • You want access to research across multiple sectors and companies.
  • You prefer a broader research ecosystem rather than purchasing reports individually.
06

Bespoke research

Research tailored to a specific requirement.

Fees on request

For clients requiring research beyond our standard published research products, bespoke research assignments may be undertaken subject to scope, availability, compliance requirements and suitability.

Potential assignments may include:

  • Specific company research
  • Industry studies
  • Multi-company comparative research
  • Custom thematic research
  • Special situation analysis
  • Deep-dive research assignments
  • Research requiring additional primary information gathering, where permissible
  • Other customised research requirements

Bespoke research is quoted separately based on:

  • Scope
  • Number of companies/securities
  • Research depth
  • Complexity
  • Required turnaround time
  • Data requirements
  • Primary research requirements
  • Travel/site visits, where applicable
  • Other incremental research costs

Site visits and other primary research activities, where undertaken, will be subject to applicable regulatory requirements, compliance procedures and appropriate disclosures.

Discuss a bespoke assignment

07

Research updates

Markets and companies change.

A material development may therefore require an existing research view to be revisited.

Where updates are provided, they may be triggered by developments such as:

  • Material company announcements
  • Significant earnings developments
  • Major regulatory changes
  • Corporate actions
  • Important industry developments
  • Material changes to the original investment thesis
  • Significant changes in valuation or market conditions

The nature and frequency of updates may vary according to the research product and subscription plan.

We focus on material developments rather than producing updates merely to meet a predetermined report quota.

08

What our research is — and is not

Independent Research

Our research is designed to provide an independent analytical assessment based on relevant information, research methodology and professional judgement.

Research conclusions are not intended to be influenced by the interests of any particular security issuer or other party.

Evidence-Based Analysis

Our research may incorporate information from:

  • Company disclosures
  • Financial statements
  • Regulatory filings
  • Investor presentations
  • Earnings communications
  • Industry information
  • Publicly available databases
  • Market data
  • Relevant third-party information
  • Other credible sources

Third-party reviews, customer feedback, employee reviews, internet reviews and similar information, where used, are treated as supplementary qualitative inputs and not as substitutes for verified financial or corporate information.

Forward-Looking Analysis

Where forecasts, scenarios, target prices or investment views are provided, they are based on stated assumptions and available information at the time of research.

Actual outcomes may differ materially from expectations.

Investment risk

Investment Risk

Equity investments involve market risk, including the possible loss of capital.

A Buy, Hold or Sell recommendation, where applicable, represents a research view based on the methodology and information available at the time of publication. It does not guarantee a particular return or outcome.

Subscribers and clients should consider their own investment objectives, financial circumstances and risk tolerance before making investment decisions.

09

Our research philosophy

We believe good equity research should do more than provide a stock name and a target price.

It should help investors understand:

  • What is happening?
  • Why is it happening?
  • Who benefits?
  • What could go wrong?
  • What does the market expect?
  • What is the stock worth under different scenarios?
  • What could change the thesis?
  • What is the risk-reward?

Our five research products are structured around these questions so that investors can access the level of analysis that best matches their needs.

10

Enquire

Research is provided under written terms, and fees are quoted on request. There is no online checkout and no account to open — a research enquiry starts with an email.

11

Important regulatory & disclosure information

All research services are provided subject to applicable laws, regulations, regulatory requirements, disclosures, terms and conditions.

Where applicable, recommendations, target prices, forecasts and other research views are based on the information and assumptions available at the time of preparation and may change as circumstances evolve.

Past performance is not indicative of future results. Investment in securities is subject to market risks.

Research should not be interpreted as a guarantee of returns or preservation of capital.

Any conflicts of interest, material disclosures and other information required under the applicable regulatory framework will be disclosed in the relevant research report and/or service documentation.

Research involving direct company interaction, primary research, site visits or other additional activities will be undertaken only where appropriate and permissible under the applicable regulatory and compliance framework.

SEBI compliance & investor protection