7 stocks in Madhusudan Kela's portfolio rally up to 135% in 2026
Analysis reveals top performers and underperformers in the renowned investor's portfolio.
1Madhusudan Kela's portfolio performance in 2026
Investment data for renowned Indian investor Madhusudan Kela's portfolio as of June 2026 quarter has been released. The portfolio consisting of 19 stocks was valued at approximately ₹2,665 crore as of August 14. The analysis covers companies where Kela holds more than 1% stake. In 2026, seven stocks gained between 10% to 135% while five stocks declined between 15% to 30%.
2Rashi Peripherals: 133% surge
Rashi Peripherals emerged as the star performer in the portfolio. The stock rallied from ₹358 to ₹834, delivering 133% returns in 2026. Kela's 1.76% stake was worth about ₹97 crore as of June 2026. The company is recognized as one of India's leading players in computer peripherals distribution.
3SG Finserve delivers 61% returns
Financial services firm SG Finserve showed strong performance, rising from ₹409 to ₹660 with 61% gains in 2026. Kela's 1.44% stake is currently valued at approximately ₹63 crore. The company stands out with its financial solutions tailored for small and medium enterprises.
4Indiabulls' 57% rise
Real estate and finance company Indiabulls recorded a 57% increase, moving from ₹17 to ₹27 in 2026. Kela's 2.21% stake was valued at nearly ₹139 crore. The company's recent expansion in housing projects is considered a key driver behind this performance.
5Steady performance by Kopran and Sangam
Pharmaceutical firm Kopran rose 27% from ₹150 to ₹190. Kela's 1.72% stake was worth about ₹16 crore. Textile manufacturer Sangam (India) gained 21%, moving from ₹495 to ₹600. Kela's significant 4.86% holding was valued at approximately ₹146 crore.
6Moderate gains in paper and machinery stocks
Subam Papers advanced 18% from ₹186 to ₹220. Kela's 7.02% stake was worth about ₹42 crore. Machinery manufacturer Windsor Machines showed a more modest 12% rise from ₹269 to ₹302. Kela's 6.40% stake reached ₹197 crore in value.
7Underperformers in the portfolio
Bombay Dyeing declined 14%, Emkay Global Financial Services fell 16%, IRIS RegTech Solutions dropped 21%, and Unicommerce eSolutions lost 28%. The biggest decline was 29% in Repro India. Kela's stakes in these companies ranged between ₹7 crore to ₹36 crore in value.
8Investment strategy insights
The analysis of Kela's portfolio highlights the importance of sector diversification and long-term investment approach. Top-performing stocks are concentrated in financial services and technology-oriented companies, while underperformers are mostly in consumer goods and traditional sectors. These data provide valuable perspective for understanding sectoral dynamics in the Indian stock market.