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Macquarie Group's equities broking arm in India has made three senior appointments to expand its coverage in Asia's third-largest economy.

Sudhanshu Bhuwalka joins as associate director in equity sales from Reliance Equities, an arm of Reliance Capital.

Neil Nathwani is to join the equity sales team from Daiwa in London, where he was the India specialist for Europe, and Suresh Ganapathy will head the financials research team for India. He was previously at Deutsche Bank.

"Macquarie Securities views India as one of our best opportunities for growth across all of our businesses," said Andrew Mouat, head of the broking arm's cash equities business in India.

Australian-based Macquarie Securities Group has 54 staff in Mumbai, and 1,770 staff around the world.

India's main share index has risen almost three-quarters this year, powered by strong foreign fund inflows, pushing brokerages to strengthen their teams.

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