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Market veteran and well-known stock picker Ashish Kacholia has increased his stake in at least two new smallcap firms in the June quarter, according to initial shareholding data. The companies are: IOL Chemicals and Pharmaceuticals and Ador Welding.
Shares of IOL Chemicals have advanced around 25% to Rs 685.65 since the beginning of the ongoing fiscal. On the other hand, Ador Welding has gained 142% to Rs 728. The benchmark BSE Sensex gained 6.5% during the same period.
Kacholia has a knack to identify quality midcap and smallcap stocks on Dalal Street. His investment calls are widely followed by investors in the country.
Latest shareholding
The latest shareholding data showed that Kacholia held a 1.7% stake in IOL Chemicals as of June 30. He had a 1.3% stake in the company in the preceding quarter ended March 31. Likewise, Kacholia held a 1.1% stake in Ador Welding as of June 30. His name was not among the key shareholders in the preceding quarters.
On the other hand, he cut his stake in Birlasoft to 1.2% from 1.8% earlier. His stake in Paushak went below 1% in the June quarter. He had a 1.3% stake in the company as of March 31.
Kacholia had a stake in over 20 companies in the March quarter. Poly Medicure, Mastek, Religare Enterprises, NIIT, Shaily Engineering, Apollo Tricoat, HLE Glascoat, Phillips Carbon Black, Acrysil, Caplin Point, DFM Foods, Mold-Tek Packaging, Apollo Pipes and Safari Industries were among some of the stocks he had in his portfolio as of March 31. Complete shareholding details for the June quarter is yet to come out.
With an investment of over Rs 1,560 crore in the domestic equity market, his portfolio has jumped over 5 times since the lows of March 2020. The value of his investment in equities stood at Rs 376 crore as of March 31 last year, as per data available with Trendlyne.com.