Dolly Khanna exits 2 stocks, cuts Prakash Industries in Q1 portfolio shuffle

Dolly Khanna, the Chennai-based value investor known for concentrated bets in small- and mid-cap names, reshuffled her equity portfolio in the quarter ended June 2025. She likely exited two stocks entirely and reduced her holding in Prakash Industries, according to an analysis of the latest shareholding data filed with exchanges.

The two stocks she appears to have sold out of are not named in the available filings. The pattern of her portfolio changes suggests a shift away from cyclical industrial plays toward sectors with stronger cash flow visibility.

Her stake in Prakash Industries, a steel and power company, was trimmed by roughly 2 percentage points from the previous quarter, filings show. The move comes as the steel sector faces margin pressure from falling global prices and higher input costs.