Seasoned Dalal Street investors including Dolly Khanna, Madhusudan Kela and Sunil Singhania have selected multibagger stocks from their respective portfolios in the first quarter ended on June 30, 2025. Their shareholding in these companies has slipped below one per cent and is not mentioned among the key shareholders of the company.
Sunil Singhania’s Abakkus Growth Fund-2 has signaled an exit from luxury watch retailer Ethos in the June 2025 quarter. The seasoned fund manager owned 2,53.104 lakh equity shares, or 1.03 per cent stake in the company as of March 31, 2025. Singhania has been holding this stock even before the IPO, launched in May 2022, but has been partially trimming his stake.
Ethos should continue to deliver healthy volume growth, on the back of new store openings and strong SSSG. Topline may grow by 20 per cent YoY. Though there was minor dent caused by Geo-political issues, material impact is expected, said YES Securities. “Ethos remains our preferred mid-cap pick from the retail sector,” it said.
Emkay Global Securities is expecting Ethos to clock a revenue of Rs 340.3 crore in June 2025 quarter, up 24.6 per cent YoY, while Ebitda is seen at Rs 55.6 crore, up 28.6 per cent YoY and 16.9 per cent QoQ. Net profit may come in at Rs 27.1 crore, up 18.8 per cent YoY and 19.1 per cent QoQ. Emkay has a ‘buy’ rating on it with a target price of Rs 3,500.
Similarly, another ace investor Madhuri Madhusudan Kela has reduced his stake below one per cent in Waaree Energies, which he also held before the IPO. Kela owned 33,41,700 equity shares in the company as of March 31, 2025 but his name was not there in the key shareholders of the company.
Waaree is executing a strategy to de-risk earnings concentration by becoming a horizontally, vertically integrated New Energy player; its foray into manufacturing of green hydrogen, electrolysers, inverters and BESS, shall enable Waaree to sustain long-term growth, margin and provide a mammoth multi-decadal growth opportunity, said Nuvama with a ‘buy’ rating a target price of Rs 3,622.
Kotak Institutional Equities expects a growth in revenue driven by higher utilization of solar module facility, production scale-up from 5.4GW cell facility and strong yoy growth from EPC business. “Margin improvement on a yearly basis can be attributed to economies of scale, favorable customer mix and contribution from higher margin cell segment,” it said with a ‘sell’ rating with a target price of Rs 2,620.
Waaree Energies shares have surged nearly 120 per cent from its IPO price at 1,503 in November 2024. The stock was seen at Rs 3,280 on Tuesday. Ethos issued its shares at Rs 878 apiece, which hit Rs 2,750 mark earlier today, rising nearly 215 per cent from its IPO levels.
Another seasoned investor, Dolly Khanna has signaled a potential exit from Chennai Petroleum Corporation, where she owned 1,618,520 equity shares, or 1.09 per cent stake, in the company as of March 31, 2025. Her name was missing from the key shareholders list for June 2025 quarter.
Listed in 2000, shares of Chennai Petroleum Corporation are down nearly 42 per cent from its 52-week high at Rs 1,274, hit in July 2024. However, despite this steep correction, the stock has zoomed nearly 800 per cent in the last five years. The stock was seen around Rs 750 on Tuesday.
Elara Capital sees Chennai Petroleum’s revenue to fall 11.6 per cent QoQ and 10.8 per cent YoY to Rs 15,251.7 crore in the June 2025 quarter. It is penciling a 36 per cent QoQ and 27 per cent YoY fall in Ebitda at Rs 502.3 crore and net profit may crack 48 per cent QoQ and 31.7 per cent YoY to Rs 234.1 crore. Elara has a ‘reduce’ rating on the stock with a target price of Rs 645.