Ayan Saha

Results-driven Equity Research Analyst with over 4 years of experience covering Banking & NBFCs, Railways, Oil & Gas, and Cement sectors. Proficient in fundamental analysis, financial modelling, and technical analysis (moving averages, MACD, RSI, Fibonacci Retracements, Elliott Wave theory). Currently managing a ₹1 Cr. discretionary fund with an 18% return in FY2025. CFA Level 2 cleared and FRM Part 1 candidate, with a strong academic grounding in Economics and Financial Markets.

Equity Research Analyst – Banking & NBFCs at VT Capital Market Private Limited (2024-09 – Present)

• Analyse quarterly results of listed entities and prepare comprehensive Equity and Technical Research reports with actionable Buy / Hold / Sell recommendations.
• Apply advanced technical tools including moving averages, MACD, RSI, Fibonacci Retracements, and Elliott Wave theory to identify short- and medium-term trading opportunities.
• Collaborate with the management team to recommend short-term positional trading opportunities to clients.
• Managing a ₹1 Cr. discretionary fund, generating an 18% return in FY2025.

Equity Research Associate – Railways / Oil & Gas / Cement at Kredent InfoEdge Private Limited (StockEdge) (2023-02 – 2024-08)

• Authored Fundamental Spotlight Reports on listed stocks across Railways, Oil & Gas, and Cement sectors, covering business model analysis, competitive landscape, and valuation.
• Employed financial modelling techniques to forecast expected quarterly financial performance, including revenue drivers, margin trends, and earnings estimates.

Management Trainee – Equity Research at Dawn Investments Limited (2022-03 – 2023-01)

• Supported senior analysts in preparing research notes and sector-level studies on listed equities.
• Assisted in monitoring portfolio positions and collating data on macroeconomic indicators, corporate announcements, and market trends.
• Gained foundational exposure to equity valuation frameworks, including DCF, P/E, and EV/EBITDA methodologies.

Master of Arts (M.A.) in Economics – Economics, Financial Markets & Statistics – Indira Gandhi National Open University (IGNOU) (2023)

Bachelor of Science (B.Sc.) in Economics – St. Paul's Cathedral Mission College, University of Calcutta (2020)

Higher Secondary Examination in Science – Howrah Vivekananda Institution (W.B.C.H.S.E) (2017)

Secondary Examination – Howrah Vivekananda Institution (W.B.B.S.E) (2015)