Quick Summary
Prime Market Research is a SEBI registered Research Analyst proprietorship run by Ram Naresh Singh, INH000015039, based in Indore since February 2024. Its Impulse Basket plan, priced at ₹90,000 a quarter, annualises to ₹3.6 lakh if renewed across a year, more than double the ₹1,51,000 SEBI fee ceiling. Fortune Elite and Momentum Delight both stay under the ceiling. The website carries several outcome oriented phrases, including a claim about “multiplying your wealth” and an unsupported track record statement, alongside broken social media links. Its complaint disclosure and independent reviews are covered in full on our dedicated Prime Market Research Reviews page.
“Multiplying your wealth” is the promise. One of the three plans behind it costs more than double what SEBI actually allows a research analyst to charge.
Prime Market Research operates under SEBI Research Analyst registration INH000015039, held by Ram Naresh Singh.
The registration itself checks out cleanly.
What genuinely needs a closer look sits past the registration number: the pricing on Impulse Basket and the language used to sell all three plans in the first place.
This page works through the registration, the full pricing breakdown against the ₹1,51,000 fee ceiling, and the promotional claims worth checking before you subscribe.
Prime Market Research Company Review
Prime Market Research operates as a proprietorship providing equity research and market analysis, aimed at helping investors and traders decide when to buy, sell, or hold securities.
Its three research products are Fortune Elite, built around blue-chip stocks; Momentum Delight, built around momentum-based trading; and Impulse Basket, covering stock and index futures and options.
Recommendations are delivered in real time during market hours through a Telegram Premium Channel, with entry-to-exit guidance provided alongside each call.
The firm states its team carries five-plus years of combined experience and uses technology, algorithms, and research-based methods in producing its recommendations.
The firm operates from a registered office at Maruti Nagar, Sukhliya, Indore, with a separate correspondence office at Rafael Tower, Saket Square, also in Indore.
Its social media icons for Facebook and Twitter are displayed on the site, but neither link functions when clicked, leaving no way to verify the firm’s activity on either platform from its own website.
None of this establishes wrongdoing, and nothing further on this page does either.
Where a registered analyst’s conduct does cross a line, the formal escalation route is covered in full on our reviews page linked above.
Is Prime Market Research SEBI Registered?
Yes, and the registration is confirmed directly against the firm’s own published disclosure.
| Detail | Information |
| Name | Ram Naresh Singh, Proprietor, Prime Market Research |
| SEBI Registration Number | INH000015039 |
| Type of Registration | Individual |
| Validity | 14 February 2024, Perpetual |
| BSE Enlistment | Enlisted, validity period stated as 14 February 2024 to 13 February 2029 |
| Registered Address | 22/1, Maruti Nagar Sukliya, Indore, Madhya Pradesh 452010 |
| Correspondence Address | 401 to 402, Rafael Tower, 8/2 Old Palasia, Indore, Madhya Pradesh 452001 |
| Contact Person | Ram Singh |
What the INH Prefix Permits
The INH prefix marks a Research Analyst. It permits publishing research and issuing recommendations to a subscriber base.
It does not permit personalised advice built around an individual client’s income, goals or holdings, trade execution, or portfolio management.
One Point Worth a Second Look on Validity
The firm’s own material states a BSE enlistment validity running from 14 February 2024 to 13 February 2029, a five-year term, while separately describing the SEBI registration itself as perpetual.
Both statements can be accurate at once, since BSE enlistment periods and the underlying SEBI registration status are tracked separately, but it is worth confirming both figures directly against SEBI’s own register rather than the site’s summary of them.
Who Is Ram Naresh Singh?
Ram Naresh Singh is the proprietor and compliance officer of Prime Market Research, meaning the same individual holds both roles at this firm.
For a sole proprietorship, this is a common and permitted structure.
It also means the person responsible for handling a client grievance is the same person the grievance is most likely to concern, which is worth knowing before relying solely on the firm’s internal process for anything serious.
A named individual account describing this proprietor directly appears among the reviews covered on our dedicated reviews page.
Prime Market Research Pricing and the ₹1,51,000 SEBI Fee Cap
This is the clearest finding on this page, and the arithmetic is worth showing in full.
A Research Analyst may charge a maximum of ₹1,51,000 per annum per family, excluding statutory charges, for individual and HUF clients who are not accredited investors.
Nothing on the pricing page identifies any plan as intended for accredited investors specifically, so the retail ceiling applies.
The Published Price List, Annualised
| Plan | Quarterly Fee | Annualised | Against the Cap |
|---|---|---|---|
| Fortune Elite | ₹26,000 | ₹1,04,000 | Under by ₹47,000 |
| Momentum Delight | ₹25,000 | ₹1,00,000 | Under by ₹51,000 |
| Impulse Basket | ₹90,000 | ₹3,60,000 | Over by ₹2,09,000 |
Two Plans Are Compliant, and the Third Is Not Close
Fortune Elite and Momentum Delight both stay comfortably under the ceiling even renewed for a full year.
On these two plans, the firm is compliant, and that is worth stating plainly.
Impulse Basket is a different picture. At ₹90,000 a quarter, four quarters come to ₹3,60,000, more than double the annual limit for an individual or HUF client.
This is not a marginal breach that depends on combining plans or an aggressive renewal pattern.
A single client renewing this one plan every quarter for a year would already be paying well over twice what SEBI permits.
The One Year, No Additional Fee Claim Needs Its Own Verification
The website states that clients and their families may continue services for up to one year without additional fees, alongside the three-month contract period stated for each plan.
If that means a client pays the quarterly fee once and receives a full year of service at no further cost, the effective annual cost could differ substantially from four quarters billed in full.
This distinction matters directly for checking compliance.
A single ₹90,000 payment covering a full year would sit well under the cap. Four separate ₹90,000 payments across the year would not.
Ask the firm directly, in writing, whether the one-year continuation is included in the original quarterly fee or billed separately, and get the actual total confirmed before assuming either reading is correct.
One protection applies regardless of how the plan is billed.
On early termination, a client is entitled to a proportionate refund for the unexpired period, and a Research Analyst may not retain a breakage fee.
Also Read: Stock Research Analytics 360 with 6 of 7 billing cycles breach the fee cap when annualised, one by nearly twelve times over.
What Marketing Language on the Website Needs a Closer Look?
A handful of phrases across the site lean toward outcome language rather than a plain description of the research service, and they are worth reading together rather than as isolated slips.
1. “Multiplying your wealth”
The site states that its hi-tech algorithms are dedicated to multiplying your wealth.
Framed this way, the phrase attaches a specific financial outcome to the service, which no research recommendation can actually guarantee.
2. Accuracy Claims
The website promotes accuracy as a reason to subscribe, describing its insights as accurate and reliable.
SEBI’s advertisement standards specifically restrict a Research Analyst from claiming or implying guaranteed accuracy in its research.
3. An Unsupported Track Record Claim
The site states that “our track record speaks for itself” and claims a “proven history of delivering results.”
No performance figures, win rate, or supporting data accompany either statement anywhere in the material reviewed here.
A track record claim made without the record itself attached is a transparency gap worth asking about directly.
4. High Return Language Under Fortune Elite
The Fortune Elite plan description states that “high potential return is possible.”
This stops short of an explicit guarantee, but it is promotional language built around potential returns, and it can shape a prospective client’s expectations before they have seen a single recommendation.
None of this amounts to an explicit guarantee of returns in the way SEBI orders have treated direct profit promises.
It is softer than that, and it is worth reading with the same caution regardless, particularly alongside the complaint volume and independent reviews covered on our Prime Market Research Reviews page.
Also Read: Rajendra Vitthal Suryawanshi, an RA with two complaint tables, same firm, same month, off by 11.
What Should You Check Before Choosing Between the Three Plans?
A few direct questions, answered in writing before you pay, resolve most of what this page has flagged.
Ask whether the plan you are considering is intended for individual, HUF, or accredited investor clients, since that classification decides which fee ceiling actually applies to you.
If you are choosing Impulse Basket specifically, get the exact billing schedule for a full year confirmed in writing rather than assuming the quarterly figure multiplies cleanly by four.
Ask for a working link or handle for the firm’s actual social media presence, since the icons displayed on the site currently lead nowhere, and ask directly for the performance data behind the track record claim if that language played any part in your decision to subscribe.
If You Have Been Charged Above the Fee Cap, Where Do You Take It?
If Impulse Basket has actually cost you more than ₹1,51,000 in a year, that is a documented arithmetic problem rather than a dispute about research quality, and it gives you firmer ground than most complaints in this sector.
Beyond writing to the firm directly, a few escalation channels exist, each built for a different stage of the same dispute.
1. SEBI SCORES: File your complaint on the SEBI SCORES complaint portal. This is the first formal channel and keeps a dated record of your grievance on file with the regulator.
2. SMART ODR: Move to structured conciliation through the SMART ODR portal if SCORES does not resolve it.
3. Arbitration: Where conciliation still does not settle it, arbitration in stock exchange proceedings end in a binding, enforceable award.
This is the final step, and its outcome is not something either side can simply set aside.
If you want to know the full process in detail, check our guide complaint against SEBI registered research analyst.
Paying more for Impulse Basket than the SEBI cap allows?
We total your invoices against the ₹1,51,000 ceiling, calculate the exact excess, and put the figure on record in a form the analyst has to respond to. Register with us for a free read on your situation.
Disclaimer
This page is based on Prime Market Research’s own published material and the SEBI intermediary register, current as of September 2026, and alleges no wrongdoing since no SEBI order stands against the firm.
Registration details, pricing, and website content can change, so verify everything at source before acting. Treat this page as research, not legal or investment advice.
Conclusion
Prime Market Research is a genuinely registered SEBI Research Analyst, INH000015039, held by Ram Naresh Singh since February 2024, with two of its three plans priced comfortably within the SEBI fee ceiling.
The third, Impulse Basket, annualises to more than double the limit if billed quarterly across a year, and the site’s own claim about a free year of continued service needs a direct answer before that arithmetic can be trusted either way.
A handful of marketing phrases, from multiplying wealth to an unsupported track record, are worth reading cautiously alongside the price.
Before subscribing to Impulse Basket specifically, get the actual annual total confirmed in writing rather than assumed from the quarterly figure alone.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes. It is registered to Ram Naresh Singh, operating as Prime Market Research, from 14 February 2024 and is perpetual. Confirm it directly on the SEBI register rather than relying on the website alone.
If billed at ₹90,000 every quarter across a year, yes, by more than double the ₹1,51,000 ceiling. If the stated free year of continued service means only one quarterly payment is actually charged annually, the total could be compliant. Confirm which applies in writing before subscribing.
Yes, both stay comfortably under ₹1,51,000 even renewed for a full year at their quarterly rate.
The site displays social media icons for both platforms, but neither link leads anywhere functional, so the firm's actual social media activity cannot be verified through its own website.
That is covered in full on our dedicated Prime Market Research Reviews page, which includes the firm's complaint disclosure and independent reviews rather than being repeated here.
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