Ace investor Dolly Khanna Portfolio: Rain Industries makes a comeback, CPCL stake trimmed - Big changes and top holdings
Dolly Khanna Portfolio: Ace investor Dolly Khanna has reshuffled her stock portfolio, adding Rain Industries while reducing her stake in Chennai Petroleum Corporation Ltd (CPCL) during the September 2026 quarter. The changes point to fresh exposure to industrial carbon and chemicals alongside partial profit booking in a holding that continues to dominate her publicly disclosed portfolio.
Khanna's publicly disclosed portfolio was estimated at ₹397.61 crore at the end of the second quarter of FY27, up 23.15% from the previous quarter, according to the supplied figures. Her portfolio, managed by her husband Rajiv Khanna, remains focused on small- and mid-cap companies across sectors such as manufacturing, metals, chemicals and hospitality.
Rain Industries emerged as a significant addition, while CPCL remained her largest reported holding despite a reduction in stake. She also increased her exposure to Savera Industries and marginally reduced her holding in Prakash Industries.
The most notable change was Khanna's fresh reported holding in Rain Industries. She acquired a 1.72% stake, equivalent to 57.98 lakh shares, valued at approximately ₹129.94 crore. The addition made Rain Industries her second-largest disclosed holding. She earlier has a 1.1% holding in the stock in the March quarter, but it was below 1% in the June quarter.
Rain Industries operates in industrial carbon products and chemicals. Khanna's entry places the stock among the most significant positions in her visible portfolio, although the available information does not establish her specific investment rationale or confirm that the purchase reflects a view on a particular turnaround. It has lost 12% in 1 week, 2% in 1 month and 7% in 3 months. However, it added 58% in 6 months and 62% in 1 year.
Meanwhile, Khanna reduced her stake in Chennai Petroleum Corporation Ltd. Her holding declined from 1.30% to 1.02%, following the sale of approximately 4 lakh shares. Despite the trimming, CPCL remained her largest disclosed position, valued at around ₹216.82 crore.
CPCL shares had gained more than 82% over the preceding 12 months. It has risen 38% in 6 months and 13% in 3 months. However, it has surged 959% in 5 years.
Savera Industries saw the opposite move. Khanna raised her stake by 0.38 percentage points to 2.08%, with the holding valued at approximately ₹4 crore. The increase expanded her exposure to the hospitality business.
Savera Industries Ltd operates in India's hospitality sector through Savera Hotel, offering accommodation, dining, bars, amenities, banquet halls and event facilities. Founded in 1968, the Chennai-based company has an established presence in the hoteliering business.
The stock has remained under pressure, declining 6% in one month, 8% over three months, 8% over six months and 5% in the past year. However, its long-term performance has been stronger, with the stock delivering multibagger returns of 206%.
In Prakash Industries, Khanna reduced her stake by 0.34 percentage points. Her remaining reported holding stood at 2.12%, valued at approximately ₹39.46 crore.
Prakash Industries Ltd, incorporated in 1980 and headquartered in New Delhi, manufactures steel products, including sponge iron, billets, wire rods and TMT bars. It also operates in ferro alloys, iron ore and coal mining, and wind power generation. The stock has declined 5% in three months, 16% in six months and 26% over the past year.
Rain Industries' addition significantly changed the composition of Khanna's disclosed holdings, while CPCL remained the largest position even after the reduction. The increase in Savera Industries and partial trimming of Prakash Industries further altered the mix of reported investments.
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