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Narnolia

Narnolia Financial Advisors Ltd.

Narnolia Research

Narnolia follows the ‘Growth-in-Value' investment philosophy and has demonstrated a successful track record in fund management measured in terms of superior risk-adjusted returns on an absolute, relative, and consistent basis - Not by Chance, but by Design. Quality always prevails. Along with quality, in a growing economy like India where every production or consumption parameter's upside potential is still humongous, the majority of existing market leaders remain minuscule in the global context. Indian markets over the last thirty years since the great economic reform have oscillated between phases of out-performance by quality companies and phases of out-performance by growing businesses. ‘Growth-in-Value' combines the advantages of these two fundamental parameters and helps create superior performance in fund management. This philosophy is further supported by the 'Principle of Linearity', '360 degree 5-M Research Framework', and our Risk Management framework, one of the most comprehensive techniques in fund management.

Research Connect

Market-Percpective

Market Perspective

Market perspective is a Detailed Analysis of the Indian Stock Markets considering Domestic & Global Macros. It also discusses the Investment argument for various Themes in the Market.

Topic Month Year Action
Nifty & Global Markets Near All Time High-Way ForwardDecember2025
Viksit Bharat- Mega Themes for InvestmentMay2024
Investment Opportunity@22000February2024
India Equity OutlookSeptember2023
Growth Magnets for the New Bull MarketMay2023
India Equity OutlookApril2023
India Equity OutlookMarch2023
India Equity OutlookFebruary2023
India Equity OutlookJanuary2023
India EquityDecember2022
Impact of Rising Interest RatesNovember2022
Market Outlook & Investment Opportunity Amid Recent VolatilityOctober2022
India OpportunitiesSeptember2022
This Decade Belongs to Emerging Markets-India to ShineAugust2022
Markets Settling to a New NormalJuly2022
Investment-Perspective
Investment Perspective

Fund Manager’s Perspective and Outlook about Markets and Investment Strategy.

Topic Month Year Action
Investment Perspective - April 2026April2026
Investment Perspective - March 2026March2026
Investment Note on Current MarketsMarch2026
Investment Perspective - February 2026February2026
Investment Perspective-Jan 2026January2026
Investment Perspective - Dec 2025December2025
Investment Perspective - Nov 2025November2025
Investment Perspective - Oct 2025October2025
Investment Perspective - Sept 2025September2025
Investment Perspective - Aug 2025August2025
Investment Perspective - July 2025July2025
India Market Update in a challenging global macroeconomic landscapeJune2025
Impact of Global Re-Set in Interest RatesNovember2022
India : Outperforming Nation for the DecadeSeptember2022
Swings and Surge are more important source of investment return in the short term while underlying Trend determines return for the long term investor.July2022
Research-Blog
Research Blog

Analyst’s Perspective on a particular Macro-Economic or Market Related Topics and Themes.

Topic Month Year Action
Budget 2024-25 : From PLI (Production Linked Incentive) to ELI (Employment Linked Incentive) : Foundation for wholesome structural growthJuly2024
Growth Magnets of India Series - $1 trillion of Merchandise Exports by 2030September2023
High Growth alongwith Margin revival witnessed in Portfolio companies for Q4FY23 Quarterly ResultsJune2023
Indian Banks stress test amidst Global Banks failure environmentMarch2023
UNION BUDGET 2023 - Another Right step in Right directionFebruary2023
Macro Vs Micro - Unknowable Vs KnowableJanuary2023
Strong Q2FY23 Results for Portfolio Companies Amidst Global VolatilityNovember2022
Sideways Market keeping Sectoral / Style Out-Performance IllusiveOctober2022
Market Short term movement anchored on Bond YieldSeptember2022
NS Portfolio Companies Shines Amid Gloomy Q1FY23 ResultsAugust2022
Indian Banking Opportunity - Higher Credit Growth Alongwith Lower NPAs and Higher Recoveries Promises Higher Profitability for BanksAugust2022
PLI SCHEME-EMERGING INVESTMENT OPPORTUNITYAugust2022
Investigating Recent Under-Performance of Quality Companies with NarnoliaJuly2022
Research

Managing Funds with the Research Edge

At Narnolia, our funds management is predicated on a very strong and unbiased research capacity. The research base not only spans a variety of asset classes but also bringsa degreee of bottom-up depth to the table with deep industry insights market intelligence. The research edge is based on 4 key parameters

Invest with Narnolia

Narnolia is an 8 letter wordSo is Research, So is Advisory

The history of the company dates back to 1993. The brilliant academic track record and a deep understanding of capital market of its founder CMD Mr. Krishna Narnolia helped him to lay the solid foundation of Narnolia with well defined philosophies and core values.

Trusted Fund Management Firm since 1997.

Serving over 50 Broker Partners, Fund Houses & Institutional Investors

Strong team of 40 analysts

Performance by Design, not by Chance. Research Team, Truly Process-driven (112 Sub processes), Promoter led, Growth-in-value Philosophy, 360 x 5M Research Parameters (Risk Management)

Most Consistent PortfolioManager of the Country 2018, 2019 by BSE Tefla's
2nd Largest Registered Investment Advisor (RIA) of the Country, 2020-21 by BSE Star
Most Consistent PortfolioManager of the Country 2018 & 2019 by BSE Tefla's
Narnolia Multi-CapPMS Strategy Rated 4Star (Rank 2), 2020-21 by CRISIL
Narnolia PMS awarded‘Best PMS on 5 YrsPerformance’ - Rank 2 by IIM Ahmedabad
Read about Narnolia

Partner With Us

Partnership is in our DNA. 25 years of lovely & meaningful partnership between the promoters and over two decades of association with hundreds of distribution partners is proof in itself that we know with whom to enter into and how to keep adding value to these partnerships. As an Investment Advisory Firm, collaboration with healthy competition, coopetition, for the benefit of our customers is the new mantra for today & tomorrow. So, let's use each other's strengths to create the right environment for all our stakeholders & grow together. Our Investment Advisory Firm remains committed to fostering these partnerships and ensuring mutual growth and success.

Our Esteemed Distribution Partners

LGT
MOWM
ICICI_Securities_Logo
IIFL
Nuvama
AnandRathi
Aditya-Birla
CSec
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Religare_Broking
SMC
Bonanza
fisdom
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SKSE
R Wadiwala
Reliance
PrabhudaS-Liladhar
Jainam
Jhaveri
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JK
Profitmart
A c Agarwal
Ajmera
AZH
Bhartia
Fast Capital
Finolutions
India Advantage
Labdhi
Ratnkar
RMONEY
Vardhaman
Relevance-Broking

and many more...

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About Narnolia

Narnolia, an investment management and advisory firm, was founded in 1997 by Krishna Narnolia & Shailendra Kumar. At Narnolia, we focus on improving the health of your wealth. As an Investment Advisory Firm, we have created one of the best data-driven buy-side research teams in the country, with capabilities spread across asset classes and investment strategies. Not only do we focus on returns, but we also focus on the quality of returns with the objective to maximize returns per unit of risk for the investor. Our commitment as an Investment Advisory Firm is to ensure that every investment decision is informed, strategic, and beneficial for our clients.

Investment Solutions

Portfolio Management Services (PMS) Narnolia PMS is meant to be a part of an investor's core buy-and-hold portfolio. It aims to capitalize on the wealth-creation opportunity in the indian economy by providing our investors an unique opportunity to diversify their investments by participating in 4 different equity strategies all through a single account based on their needs & risk-profile.

Investment Advisory Portfolios (IAP - Equity & Mutual Funds) Research-backed thematic baskets of stocks or mutual funds grouped together to achieve long-term growth with an expected return & a corresponding degree of risk.

Mutual Funds Research & AdvisoryInvestment Advisory Portfolios are thematic baskets grouped together to provide an expected return with a corresponding degree of risk. It provides discipline, professional competency, & a long- term approach

Index ManagementNarnolia Research has developed 69 objective indices including the world- famous and widely tracked 'All shares index (ASI)

Partner Solutions

We believe in collaboration with healthy competition, co- opetition, for the benefit of our customers. Let's use each other's strengths, create the right environment for our investors and grow together

B2B Investment Platform: Alphanest

Alphanest is a 'Customer Centric Multi- Asset, Multi- Strategy and Multi Broker' B2B Wealth Management Ecosystem.