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 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%.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.