Ashish Kacholia Portfolio: Ace investor Ashish Kacholia reshuffled his ₹2,400 crore equity portfolio during the December quarter, making a series of strategic additions, selective stake increases and meaningful trims across his holdings. The portfolio changes came against the backdrop of a sharp correction in smallcap stocks during 2025, prompting tactical realignments rather than wholesale exits.
Here is a closer look at the key stocks where Kacholia made notable moves during the third quarter.
Adcounty Media emerged as a fresh addition to Kacholia’s portfolio in the December quarter, with the investor picking up a 2.89% stake in the digital advertising solutions provider.
The company, which debuted on the BSE SME platform in July 2025, had a strong post-listing run and turned into a multibagger within just two months of listing. However, the rally proved unsustainable, with the stock now trading nearly 60% below its peak. It has shed 45% in 3 months and 2% in last 1 month.
Adcounty operates in the digital advertising space, offering performance-driven marketing solutions, a segment that has seen heightened competition but also long-term growth potential. The stake purchase indicates selective bottom-fishing rather than momentum chasing.
TechEra Engineering was the second new entrant in Kacholia’s portfolio during the quarter. According to Trendlyne data, he acquired a 4.98% stake, amounting to 7.98 lakh shares. The stock has declined 46% from its record high reached in October last year.
While the stock has gained 13% in last 1 year, it has been under pressure recently. It fell 15% in last 6 months, 34% in 3 months and 13% in past 1 month.
Kacholia increased his exposure to Gujarat Apollo during the December quarter by picking up an additional 1.2% stake, taking his total holding in the company to 2.3%, as per Trendlyne data. Gujarat Apollo manufactures heavy machinery used in mining, construction and road maintenance, with a strong focus on crushing and screening equipment.
The stock has lost 0.5% in last 1 year. However, it had lost 18% in 6 months, 14% in 3 months and 7.5% in 1 month. In the last 5 years, it has gained 71%.
The seasoned investor also marginally raised his holding in Knowledge Marine Engineering, increasing his stake by 0.1% to 2.9%. The company operates in the marine services space and is involved in dredging activities, besides running pilot boats, patrol vessels and survey boats.
In the last 1 year, the scrip has risen 50%, rallied 78% in 6 months, and 43% in 3 months. However, it fell 9% in past 1 month.
Ashish Kacholia: December quarter reductions
On the trimming side, Kacholia reduced his holding in Vasa Denticity by 0.5%, bringing his stake down to 3.5%. Vasa Denticity operates as a major B2B e-commerce platform for dental products in India, supplying a vast range of consumables, instruments and equipment to dentists, hospitals and clinics.
The stock has lost 14% in last 1 year, 2% in past 6 months ut gained 7% in last 1 month.
Kacholia also pared his stake in Walchandnagar Industries by 0.5%, leaving him with a 2.1% holding in the company. Walchandnagar Industries is a well-known heavy engineering firm engaged in high-tech manufacturing and project execution for critical sectors such as defence, aerospace, nuclear power and industrial machinery.
The stock has been under pressure recently. It lost 39% in last 1 year, 26% in last 6 months, 11% in past 3 months and 23% in past 1 month. However, in the last 5 years, it has given multibagger returns, soaring 134%.
Fineotex Chemicals appears to be a complete exit or a reduction below the 1% disclosure threshold. The stock has fallen nearly 70% over the past one year. Fineotex manufactures specialty performance chemicals and enzymes, with a strong presence in textiles and expanding exposure to segments such as home care, hygiene, water treatment, construction, leather, paints, agrochemicals and oil and gas.
The stock has been under pressure recently. It lost 36% in last 1 year, 21% in last 6 months, 12% in past 3 months and 11% in past 1 month. However, in the last 5 years, it has given multibagger returns, rallying 231%.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
