Meet the Research Team

Nikhil Bhauwala, CFA, is the founder of Alliance Equity Research, where he leads equity research, financial modeling, valuation, and company analysis across public markets, with a particular focus on undercovered companies and businesses that require detailed fundamental and industry analysis. Before founding Alliance Equity Research, he worked as a senior investment research analyst at an investment bank, evaluating opportunities across public and private equity markets. His work combines bottom-up company research with operating-driver forecasts, scenario analysis, financial statement modeling, and valuation. He holds an MBA in Finance and is a CFA charterholder.

Gaurav Premani, CFA, is a Partner at Alliance Equity Research, where he focuses on equity research, financial modeling, valuation, and company analysis across public markets. His research spans multiple industries and geographies, with particular experience in healthcare and pharmaceutical businesses and a strong focus on translating business models, operating drivers, and industry dynamics into detailed financial forecasts and valuation frameworks. His work combines fundamental company research, industry analysis, and financial modeling to assess the underlying economics of a business and the financial implications of company and sector developments. He is a CFA charterholder with an academic background in finance.

Varun Bhauwala, MBA, has over six years of experience in equity research and public-market analysis, with a focus on the Consumer Discretionary and Consumer Staples sectors. His background also includes founding and operating a textile manufacturing business, giving him first-hand exposure to business operations, supply chains, cost structures, and commercial decision-making across apparel, textiles, and consumer-facing industries. He holds an MBA from the University of Mumbai.

Simran Goenka, CA, has over five years of experience across accounting, financial planning and analysis (FP&A), and equity research, with a focus on the Financials sector. Her background in accounting and corporate finance supports detailed analysis of financial statements, profitability, capital allocation, and business performance. She holds a Bachelor of Commerce and is a Chartered Accountant.

Palak Choudhary, CS, specializes in corporate governance, regulatory compliance, and capital markets, with a strong understanding of corporate law and disclosure requirements. Her background as a Company Secretary supports analysis of corporate actions, ownership structures, governance frameworks, and transaction-related developments. At Alliance Equity Research, her work spans capital markets, M&A, and special situations.