Indian stock markets have been under pressure in the previous quarter, mainly on the back of the US-Iran war, which started at the end of February and still continues, leading to a surge in crude oil prices, raising inflationary concerns. Before that, in late January and early February as well, the markets witnessed a strong sell-off amid AI-led disruption worries.
India’s top investors used these sharp market corrections in the March quarter to selectively accumulate small-cap and beaten-down stocks, signalling conviction in niche opportunities even as broader market sentiment remained weak.
The Nifty declined over 10% during the period, with sharper cuts in the broader market, prompting seasoned investors to deploy capital into under-owned and specialised businesses.
One of the veteran investors, Ashish Kacholia, continued his strategy of identifying high-potential small-cap companies early, increasing stakes across multiple names such as TechEra Engineering, SG Finserve, Aeroflex Industries, and Tanfac Industries. At the same time, he reduced exposure in Vasa Density, indicating a selective and calibrated portfolio approach.
Where is Ashish Kacholia investing?
Known for spotting emerging small-cap winners at an early stage, Ashish Kacholia’s portfolio moves are closely tracked by investors for insights into promising opportunities and broader market trends. His buying and selling decisions often signal confidence or caution, helping retail investors make more informed investment choices. The portfolio data referenced has been sourced from Trendlyne.
Kacholia’s portfolio recorded a 2.4% increase during Q4 FY26, taking its total value to ₹2,282.44 crore.
The highest stake increase during the quarter by the expert was in TechEra Engineering, where he raised his holding by 1.4% to 6.2% in the March 2026 quarter from 4.8% in the December 2025 quarter. It rose 61% in the last 1 year.
In the financial segment, he increased his stake in SG Finserve by 1.2%, taking his total holding to 2.37% from 1.14% in December 2025. The stock also touched its 52-week high on Friday, indicating strong momentum. It added 17% in the last 1 year.
He also raised weightage in Aeroflex Industries by 0.3% during the March quarter, taking his holding to 2.27% from 2.01% in December 2025. The stock has delivered a 75% return over the past one year.
In another move, he increased some exposure in Tanfac Industries by 0.1%, taking his holding to 1.71% from 1.65% in December 2025. The stock has generated 60% returns over the last year.
On the other hand, he reduced his exposure in Vasa Density by 0.8%, bringing his stake down to 2.7% in Q4 from 3.5% in the December quarter.
Apart from these quarterly changes, the investor holds a 4.3% stake in Agarwal Industrial, 2.6% in Fineotex Chemical, 1.8% in Safari Industries, 3.5% in Carysil, 12.5% in Beta Drugs, 1.4% in Brand Concepts, 1.7% in Stove Kraft, and others.
Overall, the latest portfolio changes indicate that even amid market volatility, seasoned investors are selectively increasing exposure to high-growth small-cap opportunities while reducing positions where the outlook appears less favourable.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
