Madhusudan Kela Portfolio: 7 stocks rally up to 67% in FY26; fresh bet in Q2 revealed

Investors closely monitor the portfolios of prominent players on Dalal Street. In line with this interest, ETMarkets has examined the investment holdings of renowned investor Madhusudan Kela. As per the latest data for the September 2025 quarter, Kela has publicly disclosed holdings in about 15 stocks, with a total estimated value of around Rs 2,817 crore as of October 31. It’s worth noting that this list includes only those companies where his stake exceeds 1%, and may not reflect his entire investment portfolio.

A closer analysis shows that seven out of Kela’s 15 portfolio stocks have delivered double-digit returns so far in FY26. We have highlighted these top performers along with three major laggards from his portfolio. The portfolio also saw one new entrant in the September quarter, in which Kela holds a 4.6% stake. (Data Source: ACE Equity, Trendlyne).

The stock has gained 67% so far in FY26, climbing from Rs 502 to Rs 837. Madhusudan Kela held an 8.93% stake, valued at approximately Rs 1,536 crore as of the September 2025 quarter.

The stock has risen 39% in FY26 to date, moving from Rs 397 to Rs 553. Madhusudan Kela owned a 3.32% stake, valued at approximately Rs 27 crore as of the September 2025 quarter.

The stock has increased 16% so far in FY26, from Rs 284 to Rs 328. Madhusudan Kela owned a 2.44% stake as of the September 2025 quarter.

The stock has declined 9% so far in FY26, slipping from Rs 321 to Rs 293. Madhusudan Kela held a 7.71% stake, valued at approximately Rs 190 crore as of the September 2025 quarter.

The stock has dropped 18% in FY26 so far, falling from Rs 387 to Rs 317. Madhusudan Kela owned a 5.21% stake as of the September 2025 quarter.