SYNOPSIS: Two Ashish Kacholia portfolio stocks are trading 60–65% below their highs, attracting investor attention amid steep price corrections, profitability challenges, and heightened risk-reward dynamics despite long-term business potential.
Ashish Kacholia, popularly known in market circles as the “Big Whale,” began his career at Prime Securities before moving on to Edelweiss. In 1995, he established his own brokerage firm, Lucky Securities. He later co-founded Hungama Digital in 1999 alongside legendary investor Rakesh Jhunjhunwala and began actively building his personal equity portfolio from 2003. Over the years, Kacholia has developed a diversified investment portfolio spanning sectors such as hospitality, education, infrastructure, and manufacturing.
According to the latest publicly available corporate shareholding disclosures, Ashish Kacholia currently holds stakes in 48 listed companies, with the total value of his public equity investments exceeding Rs. 2,701.8 crore.
At present, two stocks from Kacholia’s portfolio have drawn significant investor interest. These stocks stand out for two key reasons: first, they were added to his portfolio in 2025, and second, both are trading at substantial discounts to their respective all-time high prices, making them closely watched opportunities in the market.
With a market cap of Rs. 88.2 crores, shares of Naman Industries Proxima Limited, previously known as Naman In-Store Limited, were closed in the red at Rs. 67.5 on NSE, down by over 1 percent, as against its previous closing of Rs. 68.5 on Wednesday.
The stock has delivered negative returns of around 36 percent in six months, and has fallen by over 6 percent in the last one month. Additionally, the stock is currently trading at a discount of nearly 60 percent from its 52-week high of Rs. 168.7, recorded on 16th December 2024.
Noted investor Ashish Kacholia acquired an 8.26 percent stake in Naman In-Store in 2025 for around Rs. 9.3 crore. While his holding percentage remains unchanged, the value of this stake has declined to approximately Rs. 6.5 crore in line with the stock’s price correction.
On the financial front, the company reported revenue from operations of Rs. 69 crore in H1 FY26, reflecting a decline of over 22 percent HoH, although it posted marginal year-on-year growth of around 4.5 percent. After being loss-making until FY21, Naman In-Store turned profitable by FY25 with a net profit of Rs. 6 crore. However, profitability weakened again in H1 FY26, with net profit standing at just Rs. 33 lakh.
The stock debuted on the exchanges in April 2024 at around Rs. 115 per share and has since witnessed a sharp correction, with the current price as of 17th December 2025 at Rs. 67.5.
A key concern flagged can be the company’s listing on the NSE SME platform (Emerge). SME stocks often face liquidity constraints due to mandatory lot-based trading, which can make exits difficult during sharp declines. Additionally, their relatively small equity base may lead to higher price volatility, while comparatively lighter disclosure norms can sometimes delay the identification of underlying financial stress, increasing risks for retail investors.
Naman In-store (India) Limited is engaged in the business of manufacturing customised retail store fixtures & furniture made from wood, metal, plastic and other materials. This includes display fixtures & furniture, indoor fixtures, full Shops, CTU, CDU, POSM merchandising, etc.
The company carries out industrial fabrication, manufacturing and installation of all types of display and commercial furniture, as well as any kind of interior work for onsite displays or at commercial premises or any made-to-order furniture & fixtures mainly relating to display. It mainly operates in the domestic market.
With a market cap of Rs. 1,027.6 crores, shares of Quadrant Future Tek Limited closed in the red at Rs. 256.9 on NSE, down by around 3 percent, as against its previous closing of Rs. 263.9.
The stock has delivered negative returns of around 46 percent in six months, and has fallen by about 18 percent in the last one month. Additionally, the stock is currently trading at a discount of more than 65 percent from its 52-week high of Rs. 744, recorded on 6th February 2025.
Ace investor Ashish Kacholia acquired a 1.91 percent stake in the company through Suryavanshi Commotrade Private Limited, investing around Rs. 35 crore. While the shareholding percentage remains unchanged, the value of this stake has declined to ~Rs. 20 crore following the stock’s price correction.
In terms of financials, Quadrant Future Tek reported a revenue from operations of Rs. 34 crores in Q2 FY26, representing a growth of over 17 percent QoQ but a decline of nearly 15 percent YoY. However, profitability remains under pressure. The company reported its first net loss in several years in FY25, amounting to Rs. 20 crore. The losses widened further in Q2 FY26, with a net loss of Rs. 16 crore – up around 14 percent QoQ and nearly 300 percent YoY. Operating performance has also weakened over the years, with EBITDA declining sharply from Rs. 11 crore in FY21 to just Rs. 1 crore in FY25.
Quadrant Future Tek Limited is a research-oriented company, engaged in the business of developing new generation Train Control and Signalling Systems that offer the highest level of safety and reliability to rail passengers and also possesses a Specialty cable manufacturing facility with an in-house Electron Beam Irradiation Centre. The specialty cables manufactured by the company are used in railway rolling stock and the Naval (Defence) industry.
Notably, both Naman In-Store Limited and Quadrant Future Tek were added to Ashish Kacholia’s portfolio in 2025. While Naman In-Store carries risks associated with SME platform liquidity, Quadrant Future Tek continues to face challenges in restoring profitability, making both stocks closely watched by investors.
Written by Shivani Singh
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