Bastion Research is a boutique, SEBI-registered equity research firm (INH000023199) dedicated to uncovering structural growth in the Indian markets. We specialize in providing deep-dive, fundamental equity recommendations on under-covered companies (sub-₹10,000 Cr Market Cap) that offer asymmetric risk-reward payoffs. Serving as a trusted research partner to institutions, family offices, and fund managers across India, we rely on rigorous primary research and our proprietary S.M.A.R.T. framework to cut through market noise and identify high-quality businesses with strong unit economics.
Fund Manager -
Navid Virani (Co-Founder & Fund Manager): With over 10 years of institutional equity research experience, Navid embodies the exact temperament required for high-conviction investing. He is fiercely long-term oriented and possesses a disciplined ability to tune out short-term macroeconomic or company-specific noise. Navid never makes investment decisions in the heat of the moment; every buy or sell is the result of stepping back, analyzing the data, and thinking it through methodically.
Highly process-driven, he firmly weighs the quality of the research process over short-term outcomes. In the markets, he is ruthlessly objective about accepting his mistakes, extracting the lesson, and moving on without ego. Crucially, Navid is deliberately "lazy" when it comes to selling stocks, a rare and necessary trait that allows compounding to work uninterrupted in high-quality winners. A passionate student of business lifecycles, he also hosts the "Made in India" podcast, engaging with company leaders and prominent investors to decode the real stories behind fascinating Indian enterprises.