Atul Goyal

Atul Goyal joined Jefferies in 2013 as a Managing Director and lead TMT analyst in Singapore, covering Pan-Asia technology, gaming and telecom, with over 15 years of equity investment and advisory experience across Asia.

What We Are Known For:

Internet

Extensive Internet coverage. Cover AI & Cloud, Ecommerce, Advertising, Entertainment, Ride Hailing, Logistics, Fintech and other internet verticals. Provide timely industry and company insights.

Investor access. Leverage strong industry relationships to connect investors with leading companies and experts through a wide range of events.

Globally integrated. Frequent collaboration across Hong Kong, USA, Europe and LatAm through research products and global conference calls.

Thought leadership. Vivek authors Jefferies’ Internet Strategy series, highlighting key themes and structural shifts in India’s digital economy.

Coverage expertise. Early mover in internet coverage within consumer research. Covers leading platforms including Eternal, Nykaa, Lenskart, Meesho and Swiggy.

Analytical rigor. Thematic and data-driven research focused on long-term trends, emerging opportunities and industry dynamics, supported by strong industry networks.

Telecommunications

Thought leadership and differentiated views. Leveraging sector expertise and proprietary research to generate high-conviction, non-consensus investment calls. Globally integrated. Collaborating closely with Jefferies teams across Hong Kong, Singapore, and India. Differentiated stock calls. Taking non-consensus views where fundamentals indicate mispriced risk-reward. Deep focus on governance. Emphasizing governance, capital discipline, and strategic focus as key long-term value drivers. Long-term fundamentals with short-term market awareness. Combining bottom-up fundamental analysis with monitoring of market flows, valuations, and sentiment. Actionable, stock-specific research. Translating sector and company developments into clear, investment-focused conclusions.

Technology & IT Services

Thought leadership and differentiated views. Generating high-conviction, consensus-challenging insights through proprietary research on technology, digital transformation, outsourcing, and emerging industry trends. Globally integrated. Working closely with Jefferies teams across Hong Kong, Singapore, and India on research and conference calls. Broad gaming sector perspective. Coverage across platforms, publishers, mobile gaming, IP owners, and media-linked businesses provides a comprehensive view of the gaming ecosystem. Focused on asymmetry, not momentum. Seeking opportunities where long-term value creation is overlooked by short-term market sentiment. Rigorous bottom-up analysis. Assessing title pipelines, franchise quality, margins, capital allocation, and valuation to identify attractive risk-reward. Differentiated investment views. Challenging consensus where we believe market expectations misprice execution risk, earnings durability, or strategic value.