Madhusudan Kela’s portfolio: 7 stocks rally up to 135% in CY26

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Aug 15, 2026, 03:04:15 PM IST

​Madhusudan Kela's stocks

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​Madhusudan Kela's stocks

Investors closely track the portfolios of prominent players on Dalal Street. In line with this interest, ETMarkets examined the investment holdings of renowned investor Madhusudan Kela. According to the latest data for the June 2026 quarter, Kela publicly disclosed holdings in about 19 stocks, with their total estimated value standing at around Rs 2,665 crore as of August 14. The analysis includes only companies where his stake exceeds 1% and may not capture his entire investment portfolio.

A closer look shows that 7 stocks in Kela’s portfolio delivered gains ranging from 10% to 135% so far in calendar year 2026. Meanwhile, 5 stocks turned laggards, declining between 15% and 30% during the same period. (Data Source: ACE Equity, Trendlyne).

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Rashi Peripherals

CY26 has been a strong run for Rashi Peripherals, with the stock surging 133%, from Rs 358 to Rs 834. Investor Madhusudan Kela held a 1.76% stake as of June 2026, worth around Rs 97 crore.

ETMarkets.com

SG Finserve

SG Finserve has delivered a solid 61% gain so far in CY26, climbing from Rs 409 to Rs 660. Madhusudan Kela’s 1.44% holding, as of June 2026, is currently valued at approximately Rs 63 crore.

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Indiabulls

Indiabulls has more than kept pace in CY26, with its stock rising 57%, from Rs 17 to Rs 27. Madhusudan Kela owned a 2.21% stake as of June 2026, valued at nearly Rs 139 crore.

Agencies

Kopran

Kopran has posted a steady 27% rise in CY26, with the stock advancing from Rs 150 to Rs 190. Madhusudan Kela’s 1.72% stake was worth around Rs 16 crore as of June 2026.

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Sangam (India)

Sangam (India) has gained 21% in CY26, moving from Rs 495 to Rs 600. Madhusudan Kela held a sizeable 4.86% stake as of June 2026, with the holding valued at approximately Rs 146 crore.

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Subam Papers

Subam Papers has delivered an 18% gain so far in CY26, rising from Rs 186 to Rs 220. Madhusudan Kela held a 7.02% stake as of June 2026, worth about Rs 42 crore.

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Windsor Machines

Windsor Machines has edged 12% higher in CY26, with the stock moving from Rs 269 to Rs 302. Madhusudan Kela’s 6.40% stake was valued at approximately Rs 197 crore as of June 2026.

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Bombay Dyeing And Manufacturing Company

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Bombay Dyeing And Manufacturing Company

Bombay Dyeing has faced pressure in CY26, with the stock declining 14%, from Rs 133 to Rs 114. Madhusudan Kela held a 1.52% stake as of June 2026, currently worth around Rs 36 crore.

ETCFO

Emkay Global Financial Services

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Emkay Global Financial Services

Emkay Global Financial Services has slipped 16% in CY26, falling from Rs 285 to Rs 239. Madhusudan Kela’s 1.06% holding was valued at approximately Rs 7 crore as of June 2026.

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IRIS RegTech Solutions

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IRIS RegTech Solutions

IRIS RegTech Solutions has seen a 21% decline in CY26, with the stock dropping from Rs 304 to Rs 241. Madhusudan Kela held a 5.21% stake as of June 2026, worth around Rs 26 crore.

ANI

Unicommerce eSolutions

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Unicommerce eSolutions

Unicommerce eSolutions has lost 28% so far in CY26, with its stock falling from Rs 120 to Rs 86. Madhusudan Kela’s 1.48% stake was valued at approximately Rs 14 crore as of June 2026.

ETMarkets.com

Repro India

Repro India has been among the weaker performers, with the stock declining 29% in CY26, from Rs 462 to Rs 327. Madhusudan Kela held a 3.31% stake as of June 2026, currently valued at around Rs 16 crore.

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