Ashish Kacholia's Strategic Portfolio Reshuffle Amid Market Volatility
Ace investor Ashish Kacholia executed a significant reshuffle of his ₹2,400 crore equity portfolio during the December quarter, making a series of calculated moves that reflect a tactical realignment rather than wholesale exits. This portfolio overhaul comes against the backdrop of a sharp correction in smallcap stocks throughout 2025, prompting the seasoned investor to adjust his holdings strategically. Kacholia's approach demonstrates a focus on selective bottom-fishing and prudent risk management during turbulent market conditions.
New Additions to Kacholia's Portfolio
Kacholia introduced two fresh stocks to his investment basket during the quarter, signaling confidence in specific opportunities despite broader market weakness.
Adcounty Media: A Digital Advertising Play
Adcounty Media emerged as a new addition, with Kacholia acquiring a 2.89% stake in this digital advertising solutions provider. The company debuted on the BSE SME platform in July 2025 and experienced a strong post-listing run, turning into a multibagger within just two months. However, the rally proved unsustainable, and the stock now trades nearly 60% below its peak, having shed 45% over three months and 2% in the last month. Adcounty operates in the competitive digital advertising space, offering performance-driven marketing solutions with long-term growth potential. This stake purchase appears to be a selective bottom-fishing move rather than momentum chasing.
TechEra Engineering: Engineering Sector Entry
TechEra Engineering was the second new entrant, with Kacholia acquiring a 4.98% stake amounting to 7.98 lakh shares, according to Trendlyne data. The stock has declined 46% from its record high reached in October last year. While it has gained 13% over the past year, recent performance has been under pressure, with declines of 15% in six months, 34% in three months, and 13% in the past month.
Stake Increases in Existing Holdings
Kacholia also selectively increased his exposure to certain existing holdings, demonstrating conviction in specific companies.
Gujarat Apollo: Heavy Machinery Focus
Kacholia boosted his stake in Gujarat Apollo by an additional 1.2%, taking his total holding to 2.3%. The company manufactures heavy machinery for mining, construction, and road maintenance, with a strong focus on crushing and screening equipment. The stock has lost 0.5% over the past year, with declines of 18% in six months, 14% in three months, and 7.5% in one month. However, it has gained 71% over the last five years, highlighting its long-term potential.
Knowledge Marine Engineering: Marine Services Boost
The investor marginally raised his holding in Knowledge Marine Engineering by 0.1% to 2.9%. The company operates in the marine services space, involved in dredging activities and running pilot boats, patrol vessels, and survey boats. The stock has performed well, rising 50% over the past year, 78% in six months, and 43% in three months, though it fell 9% in the past month.
Notable Reductions and Exits
On the trimming side, Kacholia made several reductions to optimize his portfolio risk.
Vasa Denticity: Dental E-commerce Trim
Kacholia reduced his holding in Vasa Denticity by 0.5%, bringing his stake down to 3.5%. The company operates as a major B2B e-commerce platform for dental products in India, supplying consumables, instruments, and equipment to dentists, hospitals, and clinics. The stock has lost 14% over the past year and 2% in the past six months but gained 7% in the last month.
Walchandnagar Industries: Heavy Engineering Cut
He also pared his stake in Walchandnagar Industries by 0.5%, leaving him with a 2.1% holding. This heavy engineering firm engages in high-tech manufacturing and project execution for critical sectors like defence, aerospace, nuclear power, and industrial machinery. The stock has been under pressure, losing 39% over the past year, 26% in six months, 11% in three months, and 23% in one month. Despite recent declines, it has delivered multibagger returns of 134% over the last five years.
Fineotex Chemicals: Possible Complete Exit
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 year. The company manufactures specialty performance chemicals and enzymes, with a strong presence in textiles and expanding exposure to segments like home care, hygiene, water treatment, construction, leather, paints, agrochemicals, and oil and gas. It has lost 36% over the past year, 21% in six months, 12% in three months, and 11% in one month, though it rallied 231% over the last five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
