Quick Summary
Stock Emphasis is run by Shivam Rane, a SEBI Research Analyst with number INH000020022, registered since March 2025. The website says the firm has been working in this field for seven years. His actual SEBI registration is less than two years old. Three of his ten plans are priced by the half-year. Renew any of them once, and the yearly cost runs to two to three lakh rupees, well past what SEBI allows. His complaint page also shows one figure for March 2026, but that figure doesn’t show up anywhere in his own month-by-month table.
Shivam Rane runs Stock Emphasis, a SEBI Research Analyst business with registration number INH000020022, active since 10 March 2025.
The registration is real.
Is it safe to trust SEBI registered research analyst services blindly just because they have a registration number?
His own website claims seven years in the business, a claim that simply doesn’t add up against a registration barely a year and a half old.
This page walks through his registration, the seven-year claim, his prices checked against the SEBI limit, and his complaint records, which don’t quite line up with each other.
Stock Emphasis Indore
Stock Emphasis offers research on cash, futures, options, and index trading, built mainly on technical analysis, along with a look at company financials and management before making a call.
The site promises a dedicated relationship manager, phone alerts, and WhatsApp support so clients don’t miss a recommendation.
It also offers free counselling, guiding new clients toward whichever service fits them, and says all its research is built in-house, with nothing outsourced.
No social media pages are linked anywhere on the site, only blog posts and internal pages.
None of this means anything wrong has happened. If something does need reporting, the steps to do that are further down this page.
Is Stock Emphasis SEBI Registered?
Yes. INH000020022 is confirmed independently, matching the firm’s own registration record.
| Detail | Information |
| Name | Shivam Rane, Proprietor of Stock Emphasis |
| SEBI Registration Number | INH000020022 |
| Validity | 10 March 2025, Perpetual |
| Address | 25 FA, Scheme No. 94, Sector F, 201-202, Lakeview 1, Indore, Madhya Pradesh 452016 |
| Contact Person | Shivam Rane |
An INH number means Research Analyst. He can share research and give recommendations to many clients at once.
He can’t give advice built around one person’s own money situation, place trades on anyone’s behalf, or manage anyone’s portfolio.
Why Does Stock Emphasis’s Website Say Seven Years When the Registration Is Newer Than That?
This is the clearest problem on this page.
The homepage states plainly that it has “been operating in this industry for the past seven years.”
The registration itself began on 10 March 2025. Even counting from today, that’s not yet two years, let alone seven.
Seven years of general market experience, before becoming SEBI-registered, isn’t impossible on its own. But the site doesn’t explain it that way.
It presents the seven years as the firm’s own operating history, which the registration record doesn’t support.
Ask Shivam Rane directly what the seven years actually refers to, and get the answer in writing before you decide how much weight to give it.
Also Read: Dil Se Trader, a performance report carrying its own contradicting disclaimer.
Stock Emphasis Prices, Checked Against the ₹1,51,000 SEBI Limit
This needs a close look, because the way these prices are shown can be misleading.
SEBI allows a Research Analyst to charge at most ₹1,51,000 a year, per client family, not counting GST.
The Published Prices
| Plan | Price | How Often |
|---|---|---|
| Classic Cash Trade | ₹1,50,000 | Yearly |
| Classic Future Trade | ₹1,50,000 | Yearly |
| Classic Option Trade | ₹1,50,000 | Yearly |
| Prime Index Option Trade | ₹1,50,000 | Yearly |
| Prime Index Future Trade | ₹1,50,000 | Yearly |
| Prime Option Index Future Trade | ₹1,50,000 | Yearly |
| Prime Combo Option | ₹1,51,000 | Yearly |
| Massive Plus Cash Future Trade | ₹1,35,000 | Every 6 Months |
| Massive Plus Option Future Trade | ₹1,35,000 | Every 6 Months |
| Massive Pro Cash Future Option Trade | ₹1,50,000 | Every 6 Months |
The Yearly Plans Are Fine, But With Almost No Room To Spare
Seven of the ten plans are priced at ₹1,50,000 a year, just ₹1,000 under the SEBI limit.
One plan, Prime Combo Option, is priced at exactly ₹1,51,000, the limit itself, with zero room left over.
The Three Half-Yearly Plans Are The Real Problem
Here’s where the pricing table can trick you if you don’t do the math.
Massive Plus Cash Future Trade and Massive Plus Option Future Trade both cost ₹1,35,000 for six months.
Renew either one once, for a full year, and you’ve paid ₹2,70,000, nearly double what SEBI allows.
Massive Pro Cash Future Option Trade costs ₹1,50,000 for six months.
Renew it once, and you’ve paid ₹3,00,000 for the year, exactly double the limit.
Any of these three plans, kept running for a full year, costs far more than SEBI’s ₹1,51,000 ceiling allows.
The half-yearly price tag looks smaller than the yearly plans above it, but it isn’t, once you actually renew it.
If you’re on any of these three plans, work out what you’d pay across a full year before assuming the six-month price is the real cost.
The service pages also list a minimum capital requirement, ranging from ₹1,00,000 on the lowest risk plan up to ₹5,00,000 on the highest.
That’s money you’re expected to trade with, separate from what you pay for the research itself.
One protection applies no matter which plan you’re on.
If you stop early, you’re owed a fair partial refund for the time you didn’t use.
What Do Shivam Rane’s Complaint Records Show?
Complaint records can offer a useful second layer of transparency beyond the firm’s service and pricing claims.
Looking at the disclosure as a whole can show whether the information is being presented consistently and clearly.
The Month-by-month Table
| Month | Received | Resolved | Pending |
|---|---|---|---|
| March 2025 through September 2025 | 0 | 0 | 0 |
| October 2025 | 2 | 1 | 1 |
| November 2025 | 0 | 1 | 0 |
| December 2025 | 1 | 1 | 0 |
| January 2026 | 0 | 0 | 0 |
| February 2026 | 0 | 0 | 0 |
| Total | 3 | 3 | 0 |
Three complaints between October and December 2025, all resolved. That’s a light record, and it lines up correctly with the yearly summary below it.
The Yearly Summary
| Year | Received | Resolved |
|---|---|---|
| 2024-25 | 0 | 0 |
| 2025-26 | 3 | 3 |
| 2026-27 | 0 | 0 |
| Total | 3 | 3 |
Both tables agree on the number: 3 complaints, all resolved. That much is genuinely consistent.
But There’s A Separate Figure That Doesn’t Fit Anywhere
The site also shows a table labelled “month ending March 2026,” stating 3 complaints came through SEBI SCORES specifically.
Look at the month-by-month table above, and March 2026 doesn’t even appear in it. The table stops at February 2026.
So either this March figure describes the same 3 complaints already counted from October to December, just relabelled under a later date, or it describes something new that never made it into the monthly table at all. There’s no way to tell which from the site itself.
And since today’s date is well past March 2026, this “current” complaint page hasn’t actually been updated in around six months.
Ask the firm directly to explain the March 2026 figure, and whether it’s the same three complaints or a different set.
Also Read: Raghav Research Services website also contains conflicting compliance details, with two pages naming different Principal Officers against the same email address.
What Big Claims Does Shivam Rane’s Website Make?
Before you trust any RA, it is necessary to understand what they are genuinely allowed to do under SEBI guidelines for research analyst in India.
And so, a few lines on the site are worth reading with real care.
The homepage says the firm’s services “strive to maximize your profits in every trade” and calls them “results oriented.”
No research service can promise a result on every single trade.
It also uses phrases like “customers’ success,” “satisfied results,” and describes itself as “Your Reliable Stock Market Research Partner.” None of these come with numbers behind them.
A prominent banner reads “Amplify your wealth with innovative strategies,” framing the service around wealth growth rather than simply describing what the research covers.
The site also lists risk-reward ratios like 1:1 to 1:7, alongside labels such as “Low Risk” and “Moderate Risk.”
Language that pairs a specific risk label with a specific reward number can make an outcome sound more certain than any market recommendation can actually be.
Also Read: S R Research Analytics describes recommendations as helping clients achieve “sustained growth” without defining the performance behind the claim.
How to Complain About Stock Emphasis, in Simple Steps?
If your yearly cost on a half-yearly plan looks a lot higher than you expected, or the seven-year claim and the March 2026 figure don’t add up for you, here’s what to do next.
First, add up what you’ve actually paid across a full year, and write to Shivam Rane directly at the RA’s email ID.
Ask him to explain both the experience claim and the complaint figures in plain terms.
If that doesn’t sort it out, here’s where to go next, one step at a time.
- File on the SEBI SCORES complaint page.
This provides a formal channel to register the grievance and seek resolution. - Move to the SMART ODR platform if that doesn’t resolve it.
This gives the parties an opportunity to work toward a structured settlement. - Where that still fails, arbitration in stock exchange ends with a ruling both sides have to follow.
This provides a further formal route for resolving the dispute.
For the complete walkthrough of every step, read our guide on how to make a SEBI complaint against research analyst.
Paying twice the SEBI limit without realising it?
We’ll work out your real yearly total on any half-yearly plan and help you get your case on record properly. Register with us for a free look at your situation.
Disclaimer
This page is based on Stock Emphasis’s own website, and does not accuse the firm of any wrongdoing, since no SEBI order exists against it.
Check every detail yourself before acting. This page is information, not legal advice.
Conclusion
Shivam Rane’s registration, INH000020022, is genuine and active since March 2025.
Two things need a closer look before you pay anything.
The site claims seven years in the business, which doesn’t match a registration that’s under two years old. And three of the ten plans are priced by the half-year in a way that quietly doubles, or nearly triples, your real yearly cost once you renew.
Ask him directly about both, and work out your true yearly cost yourself before signing up for anything priced every six months.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes. It belongs to Shivam Rane, running Stock Emphasis, since March 2025, and it doesn't expire. Check it directly on SEBI's own website.
The site doesn't explain this gap. Ask Shivam Rane directly what the seven years actually covers.
The three half-yearly plans, Massive Plus Cash Future Trade, Massive Plus Option Future Trade, and Massive Pro Cash Future Option Trade. Renewed once, each costs two to three times more than SEBI allows in a year.
Mostly, but only just. Seven plans sit ₹1,000 under the limit, and one plan, Prime Combo Option, is priced at exactly the limit, with nothing to spare.
Mostly. The monthly and yearly tables agree on 3 complaints, all resolved. A separate figure for March 2026 doesn't show up anywhere in the monthly table, so it's worth asking the firm to explain.
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