Dhananjay Sinha
Mumbai
Summary
Dynamic Senior Economic Analyst with a proven track record at JM Financial, excelling in macroeconomic research and strategy development. Expert in data analysis and stakeholder engagement, I spearheaded initiatives that significantly enhanced research capabilities and client relationships, leading to top rankings in industry surveys.
Overview
28
28
years of professional experience
Work History
Senior Economic Analyst
DALAL ST. INVESTMENT JOURNAL
Mumbai
07.2022 - Current
- Analyzed economic trends to provide insights for investment decisions.
- Evaluated market data with statistical software and economic models to support data-driven investment decisions.
- Prepared comprehensive reports on financial market developments and forecasts.
- Conducted research on various sectors to support investment strategies.
- Monitored regulatory changes impacting financial markets and investments to ensure compliance and strategic alignment.
- Researched Indian economy, currency markets, equity analysis, mutual funds, Indian real estate and construction to inform investment strategies.
- Key Achievements: Quickly scaled up to become the topmost contributor to the periodical; Given responsibility to write cover themes, Corporate features and themes; Initiated India’s first periodical on real estate and real estate construction sector-Construction Update.
Managing Director, Chief Economist and Strategist
JM Financial
Mumbai
05.2021 - 07.2022
- Spearheading for Market and Macro Research role across the group companies for corporate and investor clients. It includes strategy research, macro economy and thematic research. Coordinate and guide research across teams.
- Key achievements: Global and domestic Metals-Steel Cycle, India private capex cycle, banking sector, global inflections-growth, monetary policies and financial market spillovers.
- Expert calls with Chief Economic Advisor, CMIE discussion and India Real Estate, Indian Investments Cycle
- Provided financial services to institutional, corporate, and individual clients at JM Financial, a diversified financial services group.
Director – Head of Institutional Equity Research and Strategist
SYNTEMATIX GROUP
Mumbai
01.2020 - 04.2021
- Spearheading for Corporate and Macro Research role for the securities business. The role involved enhancing the research capability, attract talent to widen the companies covered by the team, guidance on research work, providing top down outlook for various sectors, strategy research, macro economy and thematic research.
- Key achievements: Successfully added several sectors like cement, capital goods, banking, non-banking finance, insurance, pharmaceuticals, macro research.
- Lateral hiring for the above sectors.
- Several differentiated research which were appreciated by clients.
- Successfully identified global policy responses to the pandemic and the positioning a bull call at the peak of uncertainty, consistent follow up research to ensure conviction of our calls.
- Proactive in deciding the economic recovery factors and communicating.
- Positive call on metals, banking, commercial vehicles, and rural sectors.
- Successfully team research: metals, automobiles, FMCG, banking, insurance, specialty chemicals.
- Arranged events involving expert discussions: China outlook, Chief Economist Netixis, Labor economics expert from ICRIER, Agriculture sector reports, ICRIER, industry experts, National Commodities Management Services Ltd.
- Systematix Group is a financial services house engaged in institutional equity broking, investment banking and wealth management.
Head of Strategy Research and Chief Economist
IDFC SECURITIES
Mumbai
06.2019 - 01.2020
- Spearheading for Market Research role, that includes equity market strategy research, macro economy and thematic research and in industry themes across sectors.
- Key differentiated research: Global trade conflicts and impact on India, Indian consumption revival, Assessing the potential and implications of government dipping into RBI’s reserve for funding fiscal stimulus.
Head of Research, Economist and Strategist
EMKAY GLOBAL
Mumbai
10.2011 - 05.2019
- Shouldering the responsibility as a part of senior management, dealing with a variety of projects relating to the development of market-based incentives by overseeing research and corporate access; steering interactions with corporate, regulatory & government officials.
- Spearheading for Market Research role, that includes equity market strategy research, macro economy and thematic research and in industry themes across sectors (The research team comprises of 35 analysts covering 15 sectors and 300 company coverage).
- Supervises multiple senior researchers and oversees work as needed; functioning well within multidisciplinary teams for team performance, research pipeline, client relationship, global and domestic road shows and sales efforts.
- Successfully established Asia business.
- Authored or co-authored knowledge products, write columns for financial media and quoted in domestic & global media.
- Built strong relationship with domestic and global funds at CIO and senior fund manager level.
- Key Achievements: Added 150+ companies under coverage in past 5 years by ramping up Emkay Research, thereby gaining top ranks in Asia Money and Institutional Investor surveys.
- Ranked highly in Institutional Investor voting and Asia Money.
- Established Emkay Research among top research firms, initiated global business strategy by doubling Asia business with my leadership skills; spearheaded corporate conferences of over 150 companies for past 5 years.
- Successfully conducted thematic conferences: Doubling of farm income, IMF’s world view and implications for India, Agri sector reforms.
- Spearheaded collaborative arrangement of Emkay Global with DBS Singapore which includes co-branded Research, institutional sales and corporate banking efforts.
- Emkay Global is a financial services company engaged in institutional equity broking, investment banking and wealth management.
Co-Head Institutional Equity, Economist and Strategist
CENTRUM BROKING
Mumbai
04.2008 - 10.2011
- Managed the spectrum of equity sales, sales trading & operations.
- Identified the data and methods to produce robust and unbiased research that includes all market strategy research, macro economy and theme pieces; closely involved in industry themes across several sectors (Real Estate, IT, Banking, Capital Goods, Retail and Auto). Manage the research team of 25 analysts covering 18 sectors and coverage of over 100 companies.
- Mentored and enhanced the productivity of the sales and sales trading teams, ensure appropriate connectivity between sales and research, facilitate sales-client connectivity; manage and conduct domestic and global road shows.
- Key achievements: Contributed towards enhancing empanelment of over 100 investor clients, voted in Asia Money and Institutional Investor surveys.
- Centrum Broking is part of Centrum Capital. Centrum Capital is an investment banking and corporate finance company and has a NBFC license in India. Its business spread include retail financial services, wealth management, corporate finance, institutional broking, real estate advisory and foreign exchange.
Head of Research
INFOSYS
Bangalore
02.2007 - 03.2008
- Played a pivotal role as in-charge of outsourced research of Deutsche Bank, including Quantitative research, Company research and Economic Research; managed a team of 120 analysts working for DB Global Market Research (GMR).
- Accountable for Quantitative research team (both equity and fixed income research) covering Rates, Index and Equity derivatives; economic research encompasses macro trends and forecasts relating to financial markets.
- Spearheaded for managing relationship with DB GMR management and senior research; looked after risk, quality, training and HR issues.
- Key achievements: Scale up department revenue of USD 7 mil / year, Established governance to meet commitments and expectations, Showcased Infosys capabilities.
- Global Market Research Engagement
Chief Economist
ICICI BANK
Mumbai
06.2003 - 01.2005
- Managing research efforts of the bank; Manage a team of ten analysts including economist and quantitative analysts.
- Primary responsibility of generating all macroeconomic and market forecasts. The job responsibility under this role included development of forecasting models and related empirical work.
- Responsible for productizing all research work through creation of web site and research products. Under my leadership, the research team was successful in generating a suite of products including Market Strategy, FX Focus, Market Outlook and series of presentations on economic and market outlook.
- The research client list included both external and internal clients. Internal clients included the treasury fund managers and top bank management officials.
- Played an important role in bank’s risk committee and ALCO meetings. Primary role here was to update the bank management on economic outlook and forecast the market risks.
- Providing independent views. Advise the bank on strategies relating to liability adjustments, investment and trading. Created training modules for other departments on Macro Economies, Asset Markets, Interest rates and Exchange rate.
- Interaction with global counterparts, visitors from foreign banks and multilateral financial institutions.
- Part of client interface for the treasury sales team.
- Regular interaction with RBI Monetary Policy Dept and the media.
Fixed Income Economist
JM MORGAN STANLEY
Mumbai
02.2001 - 06.2003
- Fixed Income Research: Tracking bond markets and recommending trade strategies; Worked on bond yield forecasting models.
- Research products: India Money Market Outlook and India Derivative Markets; Advise on mutual fund research.
- Constant interaction with clients through presentations.
- Investment banking: Work with debt origination team for primary issues.
- Client interactions on the origination side; Advising on market outlook, pricing and structuring, based on outlook.
- Strong interaction with firm management, market regulators including RBI & SEBI and media.
- Key achievements: Established strong fixed income research reputation in the market; Contributed to debt originations for companies like TATA Motors, Hindalco; Spearheaded effort towards creating Primary Dealer business for the company.
Treasury Economist
TIMES BANK / HDFC BANK
Mumbai
12.1999 - 02.2001
- Macroeconomic, Fixed income and FX research; advising the management and corporate clients.
- Advising firm management on interest rate strategy.
- Prepare reports and presentations on Indian economic outlook; Provide short term as well as long-term market views.
- Key achievements: Quickly scaled up my role within the organisation and became part of the ALCO; provided technical support for asset-liability management to the top most leadership of the bank.
Senior Feature Writer – Debt Market Specialist
BUSINESS STANDARDS
Mumbai
01.1998 - 12.1999
- Covering money and forex markets; Focus mainly on features appearing in Money Managers.
- Extensively covering issues pertaining to banking, government finances & infrastructure sector finances.
- Key achievements: Money Manager product gained pre-eminence in the Indian fixed income markets.
Education
Certified Equity Research Analyst -
National Institute of securities Management (NISM)
SEBI01-2019
Post Graduation - Economics
Delhi School of Economics
INDIA01-1992
Graduation - Economics
Kirorimal College, University of Delhi
INDIA01-1989
Skills
- Research Design & Methodology
- Data Analysis (EVIEWS, Python)
- Qualitative & Quantitative Research
- Stakeholder Engagement
- Report Writing & Presentation
- Project Management
- Policy Analysis
- Market Research
- Use of AI for Research
Personal Information
- Date of Birth: 03/11/68
- Nationality: Indian
- Marital Status: Married
Hobbies and Interests
- Painting
- Music
- Cooking
- Long distance running
Languages
- Hindi
- English
- Hindi
Phone
+91, 9870988819
Timeline
Senior Economic Analyst
DALAL ST. INVESTMENT JOURNAL
07.2022 - Current
Managing Director, Chief Economist and Strategist
JM Financial
05.2021 - 07.2022
Director – Head of Institutional Equity Research and Strategist
SYNTEMATIX GROUP
01.2020 - 04.2021
Head of Strategy Research and Chief Economist
IDFC SECURITIES
06.2019 - 01.2020
Head of Research, Economist and Strategist
EMKAY GLOBAL
10.2011 - 05.2019
Co-Head Institutional Equity, Economist and Strategist
CENTRUM BROKING
04.2008 - 10.2011
Head of Research
INFOSYS
02.2007 - 03.2008
Chief Economist
ICICI BANK
06.2003 - 01.2005
Fixed Income Economist
JM MORGAN STANLEY
02.2001 - 06.2003
Treasury Economist
TIMES BANK / HDFC BANK
12.1999 - 02.2001
Senior Feature Writer – Debt Market Specialist
BUSINESS STANDARDS
01.1998 - 12.1999
Certified Equity Research Analyst -
National Institute of securities Management (NISM)
Post Graduation - Economics
Delhi School of Economics
Graduation - Economics
Kirorimal College, University of Delhi