Seasoned Dalal Street investors like Ashish Kacholia and Mukul Agrawal continued to rejig their portfolio during the March 2025 quarter amid the rising volatility in the stock market.
Seasoned Dalal Street investors continued to rejig their portfolio during the January-March 2025 period amid the rising volatility in the stock market. While some marquee names were busy hunting for the bargain buys in the falling market, while others shunned the overvalued counters after multibagger returns during the post-pandemic bull-run.
Ace investor Ashish Kacholia added five new stocks to his portfolio with his name appearing in the key shareholders list of these companies for the first time. On the other hand, Mukul Mahavir Agrawal signaled a potential exit from at least the same number of stocks during the given quarter as his stake in these companies fell below one per cent in the March 2025 quarter.
All the listed companies compulsorily have to release their shareholding pattern on a quarterly basis, which includes the names of their key shareholders, who own at least one per cent stake in them. The key shareholders lists of the companies indicate about the rejigs by the celebrated Dalal Street names.
In addition, Kacholia picked up a stake in recently listed train controlling solutions provider Quadrant Future Tek, which made its stock market debut in January 2025. Kacholia’s affiliate Suryavanshi Commotrade owned 7,64,584 equity shares or 1.91 per cent stake in the company as of March 31,
2025, amounting close to Rs 40 crore.
According to the latest shareholding pattern, Kacholia owned 5,06,400 equity shares or 5.07 per cent stake in SME firm Qualitek Labs as of March 31, 2025, which was listed at the bourses in January 2024. His stake in the company stood a little more than 17 crore in the company.
Often called as the ‘whiz-kid’ of the stock market, Ashish Rameshchandra Kacholia also picked up a major stake in Mumbai-based garment and apparel company Thomas Scott (India). He owned 3,07,539 equity shares, or 2.43 per cent, stake in the company by the end of Q4FY25, valued at Rs 9.3 crore.
Kacholia also owned 5,59,700 equity shares or 3.63 per cent stake in another SME player Shree OSFM E-Mobility for the March 2025 quarter. Going big on the railway theme, Kacholia also bought 76,433 equity shares or 1.21 per cent stake Concord Control Systems for the quarter. His stake in the former one is worth Rs 6.5 per cent, while in the latter one amounts to Rs 8.4 per cent.
On the contrary, Mukul Mahavir Agrawal’s names went missing from key shareholders’ list of as many as five companies including some renowned names, which had delivered multibagger returns in the last few years, indicating a potential exit. However, he may own these stocks in some capacity but the holding may remain below one per cent, leading to his name missing.
Agrawal owned 4,50,000 equity shares, or 1.11 per cent stake in tyre-maker CEAT as of December 31, 2024 but his name was missing from key shareholders’ list for March 2025 quarter, signaling his exit. His name also went missing from luxury watch retailer Ethos, where he owned 3,00,000 equity shares or 1.23 per cent stake, of December 2024 quarter, indicating his exit.
Mukul Agrawal’s name also went missing from shareholders’ compilation of Quick Heal Technologies, Sarda Energy & Minerals and Dredging Corporation of India in Q4. He owned 7,00,000 equity shares, or 1.30 per cent stake in Quick Heal, while 41,76,000 equity shares, or 1.19 per cent stake in Sarda Energy. He held 4,50,000 equity shares, or 1.61 per cent stake in Dredging Corp as of Q3.
