Ashish Dhawan's stock picks struggle: 5 stocks tumble up to 70% in CY25 — Do you own any?
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Ashish Dhawan's Portfolio
Investors in financial markets frequently monitor the portfolios of well-known market participants. In this context, ETMarkets has reviewed the latest investment disclosures of prominent investor Ashish Dhawan. According to the most recent data for the September 2025 quarter, Dhawan has publicly reported holdings in about 13 companies, with a combined value nearing Rs 2,801 crore as of November 21, 2025.
These investments represent positions where his stake exceeds 1%. A closer look at these holdings shows that seven stocks delivered negative returns, five of them have declined between 20% and 70% so far in calendar year 2025. The analysis also highlights three stocks that have gained 19–33% during the same period. (Data Source: ACE Equity, Trendlyne)
These investments represent positions where his stake exceeds 1%. A closer look at these holdings shows that seven stocks delivered negative returns, five of them have declined between 20% and 70% so far in calendar year 2025. The analysis also highlights three stocks that have gained 19–33% during the same period. (Data Source: ACE Equity, Trendlyne)
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Quess Corp
In CY25 to date, the stock has declined 68%, sliding from Rs 662 to Rs 209. As of the September quarter, Ashish Dhawan holds a 4.09% stake valued at Rs 128 crore (as of November 21, 2025).
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Dish TV India
So far in CY25, the stock has fallen 59%, dropping from Rs 10 to Rs 4. As of the September quarter, Ashish Dhawan owns a 1.57% stake worth Rs 12 crore.
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Palred Technologies
In CY25 so far, the stock has declined 43%, moving down from Rs 79 to Rs 45. As of the September quarter, Ashish Dhawan holds a 5.54% stake valued at Rs 3 crore (as of November 21, 2025).
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AGI Greenpac
Year-to-date in CY25, the stock is down 32%, falling from Rs 1121 to Rs 762. As of the September quarter, Ashish Dhawan owns a 4.79% stake worth Rs 236 crore (as of November 21, 2025).
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RPSG Ventures
In CY25 so far, the stock has slipped 22%, decreasing from Rs 1033 to Rs 810. As of the September quarter, Ashish Dhawan holds a 3.73% stake valued at Rs 100 crore (as of November 21, 2025).
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Religare Enterprises
The stock has dropped 8% in CY25 to date, moving from Rs 273 to Rs 252. As of the September quarter, Ashish Dhawan owns a 4.14% stake worth Rs 345 crore (as of November 21, 2025).
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Equitas Small Finance Bank
In CY25 so far, the stock has shown no change, remaining at Rs 64. As of the September quarter, Ashish Dhawan holds a 3.97% stake valued at Rs 290 crore (as of November 21, 2025).
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Northern ARC Capital
In CY25 to date, the stock has moved 19%, rising from Rs 217 to Rs 258. As of the September quarter, Ashish Dhawan owns a 2.17% stake worth Rs 90 crore (as of November 21, 2025).
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IDFC First Bank
In CY25 so far, the stock has risen 24%, climbing from Rs 63 to Rs 78. As of the September quarter, Ashish Dhawan holds a 1.26% stake valued at Rs 724 crore (as of November 21, 2025).
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Mahindra & Mahindra Financial Services
Year-to-date in CY25, the stock has increased 33%, moving from Rs 258 to Rs 342. As of the September quarter, Ashish Dhawan owns a 1.05% stake worth Rs 500 crore (as of November 21, 2025).