Quick Summary
Karan Narendra Dixit holds SEBI Research Analyst registration INH000015792, active since April 2, 2024, running MarketPulse Research Services as a solo practitioner. His own website publishes a GST number. Searched directly, that number belongs to a different business entirely, one called Options Research. He’s also listed as Customer Care, Head of Customer Care, Compliance Officer, CEO, and Principal Officer, all five roles, all with the same phone number and email. And the site’s About page describes a “team” of SEBI registered analysts, financial experts, and data scientists, though only one person actually holds the registration.
Karan Narendra Dixit is not a company. He’s a single individual, registered with SEBI in his own name, running a research brand called MarketPulse Research Services.
That distinction matters more than it might first appear, because several details on the website built around his registration point in a direction the registration itself doesn’t support, and a first-time visitor would have no easy way to spot the gap without checking each detail directly.
This page covers the registration, a GST number that traces to someone else’s business, how many titles one person can hold at once, and the privacy policy worth reading before you hand over your details.
Is Karan Narendra Dixit SEBI Registered?
Yes. He holds an active SEBI Research Analyst registration under number INH000015792, valid from 2 April 2024, on a perpetual basis.
This is an individual registration, not a company registration. SEBI’s record lists his registered and correspondence address as 94/A Neelkunj, Sir Mukadam Mara, Ramnagar, Nagpur, Maharashtra 440033.
No SEBI enforcement or adjudication order against this registration was found in the research behind this review.
Treat that as a neutral finding rather than a clearance, since the absence of an order simply means nothing has been formally found against him yet, not that every claim on his website has been checked and cleared.
He operates his advisory service under the brand name MarketPulse Research Services.
Does MarketPulse Research’s Pricing Break the SEBI Rule?
A SEBI Research Analyst can charge an individual or HUF client at most ₹1,51,000 a year, per family, not counting GST.
None of MarketPulse’s plans are actually sold as a yearly package. Every one runs for a short window instead: 7, 15, 30, or 90 days.
That’s the detail that makes this easy to miss, since no single price tag on the page ever shows you the yearly number.
Here’s what every plan actually costs once you renew it enough times to cover a full year.
Equity plans:
- Silver, ₹19,999 for 7 days. Renewed roughly 52 times a year, that’s ₹10.4 lakh a year, over by ₹8.9 lakh.
- Gold, ₹34,999 for 30 days. Renewed 12 times, that’s ₹4.2 lakh a year, over by ₹2.7 lakh.
- Platinum, ₹69,999 for 90 days. Renewed 4 times, that’s ₹2.8 lakh a year, over by ₹1.29 lakh.
Options & Commodity plans:
- Silver, ₹29,999 for 15 days. Renewed 24 times; that’s ₹7.2 lakh a year, over by ₹5.7 lakh.
- Gold, ₹49,999 for 30 days. Renewed 12 times; that’s ₹6 lakh a year, over by ₹4.5 lakh.
- Platinum, ₹99,999 for 90 days. Renewed 4 times, that’s ₹4 lakh a year, over by ₹2.5 lakh.
Combo plans:
- Silver, ₹49,999 for 15 days. Renewed 24 times, that’s ₹12 lakh a year, over by ₹10.5 lakh.
- Gold, ₹79,999 for 30 days. Renewed 12 times, that’s ₹9.6 lakh a year, over by ₹8.1 lakh.
- Platinum, ₹1,49,000 for 90 days. Renewed 4 times, that’s ₹5.96 lakh a year, over by ₹4.45 lakh.
Every one of the nine plans breaks the SEBI limit once you actually annualise it. None of them are close. The smallest gap, on the Equity Platinum plan, still runs almost double what SEBI allows for a full year.
Before you sign up for any MarketPulse plan, work out the real yearly cost yourself by multiplying the price by however many times you’d need to renew it to cover 12 months, not the headline price shown on the page.
For the full plan-by-plan pricing table, along with the refund policy and complaint data, the MarketPulse Research page on this site covers all of that in detail.
Does the GST Number on His Website Actually Belong to Him?
This is the sharpest finding on this page, and it’s directly checkable.
The MarketPulse Research Services website displays a GST number, 27BQNPD9238D1ZP, as part of its published business details.
Search that number directly, and it comes back registered to a different business entirely: Options Research, a proprietorship in Maharashtra with a different PAN, registered under a completely separate name.
A GST number identifies who is legally billing and receiving payment for a service.
If the number on the site doesn’t actually belong to MarketPulse, it isn’t clear which entity you’re actually paying when you subscribe, or who is legally responsible for the transaction.
This could be an honest mistake, a copied template, or something that genuinely needs an explanation, and there’s no way to tell which from the outside.
Ask Karan Narendra Dixit directly which entity issues your invoice and receives your payment, and get that confirmed in writing before you pay anything.
How Many Job Titles Does One Person Hold Here?
Normally, a business has different people checking each other’s work. One person handles complaints, another checks compliance, someone else runs the company.
Here, it’s just one man doing all of it.
That means if something goes wrong, the person you complain to is also the person who’s supposed to be watching himself.
The site’s own grievance and escalation page lists five separate roles:
| Role | Name | Contact |
|---|---|---|
| Customer Care | Karan Narendra Dixit | Same phone and email |
| Head of Customer Care | Karan Narendra Dixit | Same phone and email |
| Compliance Officer | Karan Narendra Dixit | Same phone and email |
| CEO | Karan Narendra Dixit | Same phone and email |
| Principal Officer | Karan Narendra Dixit | Same phone and email |
One person, five titles, one phone number, one email address for all of them. For a solo, individually registered analyst, that isn’t unusual on its own, and many small research practices in this sector run the same way.
What it does mean is there’s no internal separation between the person handling your complaint and the person who’d be compliance-checking that same complaint.
His own name is written out in full only once across the entire site, on that grievance page. Everywhere else, the business refers to itself only as MarketPulse, or as a team.
Does the “Team of Analysts” Language Match Who Is Actually Registered?
MarketPulse Research Services describes itself, on its own About Us page, as founded by a “team of SEBI registered analysts, financial experts, and data scientists.”
SEBI’s registration record shows exactly one individual behind this Research Analyst registration: Karan Narendra Dixit. No other named analyst, financial expert, or data scientist appears anywhere on the site.
Plural language describing a team, when the underlying registration belongs to a single person, is a mismatch between how the business presents its size and what the regulatory record actually shows.
A solo practitioner can genuinely draw on outside help, but none of that help is named, credentialed, or verifiable the way the SEBI registration itself is.
Before trusting a claim of institutional scale or a “team” behind any research service, check whether the underlying SEBI registration actually reflects more than one person. In this case, it doesn’t.
Is “MarketPulse” the Same Company as Any Registered Stock Broker?
Worth clearing up directly, since the name is close enough to cause real confusion.
Market Pulse Securities is a genuinely SEBI registered stock broker, an entirely separate, venture-backed company that operates a trading platform.
It has no connection to Karan Narendra Dixit’s MarketPulse Research Services, a solo Research Analyst registration in Nagpur.
Two real, differently regulated businesses happen to share a very similar name, and search results for one can easily surface alongside the other.
If you’re searching online to verify MarketPulse, make sure you’re checking the actual registration number, INH000015792, and not a similarly named broker with its own, unrelated SEBI licence.
What Does the Privacy Policy Actually Allow?
Most people never read a privacy policy before clicking accept.
That’s usually fine, but here it’s worth ten minutes.
Some lines in this one let the company use your details far beyond just sending you research, including selling your information to other businesses and letting outside advertisers track you.
A few clauses here are worth reading closely before you submit any personal information:
1. A Lot Of Data Collected, With No Clear Reason Given
To sign up for research alerts, you shouldn’t need to hand over much more than your name and phone number. This policy asks for a lot more than that.
It lists your name, address, phone, email, IP address, age, gender, your browsing and search history, which services you’ve looked at, and your KYC details.
Nowhere does it explain why a research service needs your age, your gender, or a record of what you’ve been browsing, just to send you a stock recommendation.
When a policy collects more than the service actually needs, and doesn’t explain why, that’s worth noticing.
2. Your Data Can Be Used To Sell You Other Things
You’d expect your details to be used for one thing, giving you research. This policy goes further.
It states your information may be used to “market, sell, or supply” not just MarketPulse’s own products, but also those of any other business MarketPulse has a relationship with.
In plain terms, that means your phone number and email could end up being used to promote things that have nothing to do with the research service you actually signed up for, from a business you’ve never dealt with directly.
3. Third Parties Can Use Your Data For Ads
The policy allows outside advertising companies to look at your information and your visits to this site, and use that to target ads at you elsewhere on the internet.
It also permits cookies that build a profile of what you’re interested in, so those ads can be shown to you personally.
This is common practice on a lot of commercial websites, but it’s not something most people expect from a SEBI-registered research service specifically.
4. Data Can Be Shared Without Naming Who With
A policy that shares your data with outside companies should at least tell you which companies.
This one says your personal information may be passed to third parties who handle technical or logistical tasks on MarketPulse’s behalf, things like sending emails or texts.
But it never names a single one of these companies, and never says exactly what data each one gets to see.
You’re asked to trust that your information is handled properly by parties you can’t identify.
5. The Whole Document Reads Like A Generic Template
Read the policy as a whole, and it doesn’t sound like it was written for a stock market research business at all.
Phrases like “business relationships,” “device identifiers,” and “other lawful purposes” repeat throughout, the kind of broad legal language you’d find in almost any company’s privacy policy, for almost any kind of business.
None of it is written around what a SEBI-registered Research Analyst specifically does, or the kind of financial information a client here would actually be sharing.
It reads like a policy copied from a template and never properly adapted to this business.
Why Do the Social Media Pages Push You to WhatsApp Instead of the Website?
The website already lists full pricing and service details for every plan.
The Instagram and Facebook pages don’t point people there. Instead, they tell followers to DM the business on WhatsApp to get started.
If everything needed to subscribe is already on the site, there’s no clear reason to push interested buyers into a private chat instead.
It also means anyone messaging that WhatsApp number is trusting whoever answers, without the same paper trail a website checkout would leave behind.
Before sending any personal or payment details over WhatsApp, confirm the number belongs to Karan Narendra Dixit directly, and ask why the public pricing page isn’t the actual way to sign up.
How to File a Complaint Against Karan Narendra Dixit?
If your own experience doesn’t match what any of this suggests, here’s how to take it further.
Save your payment receipt and any messages describing what you were promised.
Write to him directly first, using the contact details on SEBI’s own record rather than assuming the website’s published contact is the correct regulatory channel.
If the response doesn’t resolve things, here’s where to go next:
- File on the SCORES SEBI complaint page using registration number INH000015792.
- Move to the SMART ODR registration platform if that doesn’t resolve it.
- If that still fails, Stock Market Arbitration ends with a ruling both sides have to follow.
If you want to know the full reporting process in detail, check our guide: complaint against SEBI registered research analyst.
Do You Need Help Filing a Complaint?
Whether you’re dealing with entity mismatches, unverified claims, or unresolved issues, we help you prepare and submit your case to the right regulatory authorities.
Register now for a free consultation with our team.
Conclusion
Karan Narendra Dixit holds a genuine, individual SEBI Research Analyst registration, verifiable directly on SEBI’s own website in a couple of minutes.
Alongside that verified registration sits a GST number that traces to a different business, five job titles held by one person, a “team” description that doesn’t match a solo registration, and a privacy policy that reads like it was written for someone else’s business.
None of this proves wrongdoing by itself. Each one is a checkable fact worth confirming before you rely on the brand’s marketing or hand over your payment details.
Report. Recover. Stay Fraud Free.
Yes. He holds SEBI Research Analyst registration INH000015792, active since 2 April 2024, registered in his personal name rather than a company name. No. Checked directly, that GST number is registered to a different business, called Options Research, not MarketPulse. No. Market Pulse Securities is a completely separate, independently SEBI registered stock broker with no connection to this Research Analyst registration. The website describes a team of SEBI registered analysts, financial experts, and data scientists, but SEBI's record shows only one individual, Karan Narendra Dixit, behind the registration. The MarketPulse Research page on this site covers the full pricing breakdown against SEBI's fee cap, the complaint data disclosure, and other red flags found on the site.Frequently Asked Questions
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