Ashish Kacholia portfolio: Ace investor Ashish Kacholia, known as the Big Whale on Dalal Street, has made significant changes to his stock portfolio during the July-September quarter, shows the latest shareholding data.
According to the data available on the stock exchanges, Kacholia has exited at least four stocks in the second quarter of fiscal 2025-26 and reduced stake in three others. Meanwhile, he has raised his stake in the multibagger stock Man Industries during the period.
Here’s a look at the changes in Ashish Kacholia’s stock portfolio during Q2:
Fresh Entry
Kacholia, known for his knack for spotting small-cap multibagger gems, has made a fresh entry into three stocks during the quarter under review. V-Marc India’s shareholding pattern shows that Kacholia held a 2.7% stake or 661,000 shares as of September 30. His name did not appear in the June quarter shareholding, signalling that either this is a fresh entry or his stake was below 1% earlier.
Apart from this, the September quarter data shows that Kacholia’s name appeared in several companies that listed during the quarter, including Vikran Engineering, Jain Resource Recycling and Shree Refrigeration. All these companies were backed by Kacholia even before their initial public offering on the stock market.
Raises Stake in Man Inds
During the September quarter, Kacholia raised his stake in multibagger stock Man Industries to 3.04% from 2.03%. He held 2,277,029 shares of Man Industries in the recently concluded period.
Over the last five years, Man Industries’ shares have increased by 325%, while they have risen 24% in the past year.
| Ashish Kacholia raises stake/makes fresh entry | ||
|---|---|---|
| New Entry | June quarter (% holding) | Now |
| V-Marc | – | 2.7% |
| Vikran Engineering | Pre-IPO entry | 1.5% |
| Jain Resource Recycling | Pre-IPO entry | 1.14 |
| Shree Refrigerations | Pre-IPO entry | 5.67 |
| Raise Stake | June quarter (% holding) | Sept quarter (% holding) |
| Man Industries | 2.03 | 3.04 |
Reduced Stake in Fineotex & Others
Meanwhile, Ashish Kacholia’s portfolio changes showed a reduction in three stocks, namely Fineotex Chemical, Dhabriya Polywood and Jyoti Structures.
In Fineotex Chemical, Kacholia sold 135,000 shares, bringing his stake lower from 2.72% to 2.62%. The stock has been flying high lately following the corporate actions of a stock split and a bonus issue. In the last week alone, the small-cap stock is up 13.5%.
Multibagger stock Dhabriya Polywood, which has delivered 1183% returns in five years, saw Kacholia booking profit, with his stake declining to 5.79% in Q2 from 6.67% in Q1.
Additionally, in Jyoti Structures, Kacholia likely exited his personal investment as his name did not appear in the list of shareholders. He held a 1.43% stake in the June quarter. From his investment firm, too, he reduced his stake to 1.99% from 2.04% QoQ.
| Ashish Kacholia cuts stake in 3 stocks | ||
|---|---|---|
| Reduce Stake | June quarter (% holding) | Sept quarter (% holding) |
| Fineotex Chemical | 2.72 | 2.62 |
| Dhabriya Polywood | 6.67 | 5.79 |
| Jyoti Structures | 3.47 | 1.99 |
Likely Exits
Kacholia likely exited four stocks during the Q2 of FY26, as his name did not appear in the September quarter shareholding pattern. Universal Autofoundry, Acutaas Chemicals, NIIT Learning and Awfis Space Solutions are the four stocks where Kacholia likely booked all gains.
| Ashish Kacholia likely exits 4 stocks | ||
|---|---|---|
| Companies | June quarter (% holding) | Sept quarter (% holding) |
| Universal Autofoundry | 2.37 | – |
| Acutaas Chemicals | 1.17 | – |
| NIIT Learning | 1.14 | – |
| Awfis Space Solutions | 1.55 | – |
Companies are required to report only those shareholders who own 1% or above.
According to Trendlyne data, Ashish Kacholia publicly holds 48 stocks with a net worth of over ₹2,741.1 crore
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
