Synopsis: Ashish Kacholia’s small-cap picks, including Zaggle, Vikran, Quadrant, Balu Forge, Beta Drugs, Safari, and Stove Kraft, trade upto 57% below 52-week highs, offering potential value opportunities.
In the stock market, small-cap stocks often fly under the radar compared to large, widely followed companies. However, some of these lesser-known businesses are backed by seasoned investors like Ashish Kacholia, who is known for identifying high-growth opportunities early. Stocks held by such investors tend to attract attention due to their strong fundamentals and long-term potential.
When small-cap stocks from Ashish Kacholia’s portfolio are trading at discounts of up to 57% from their 52-week highs, it may signal temporary market inefficiencies rather than fundamental weakness. For investors, this could present an opportunity to accumulate quality stocks at lower valuations, with the potential for significant upside as market sentiment improves. Here is the list of stocks to look out for:
Zaggle Prepaid Ocean Services Ltd
Zaggle Prepaid Ocean Services Ltd is a Hyderabad-based fintech company specializing in spend management, employee benefits, and rewards programs. It provides a SaaS-based platform (Zoyer, Propel, Save) and prepaid cards to corporate clients, SMEs, and startups to digitize expenses, incentives, and corporate gifting.
With a market capitalization of Rs. 2,611.18 Crores, the shares of Zaggle Prepaid Ocean Services Ltd have declined almost 57 percent from a 52-week high of Rs. 470.00 to the current market price of Rs. 194.20. The Ace Investor Ashish Kacholia holds a 2.23 percent stake in the company as of December 2025.
Vikran Engineering Ltd
Vikran Engineering Limited is an Indian Engineering, Procurement, and Construction (EPC) company founded in 2008 and based in Thane, Maharashtra. It provides end-to-end turnkey services, including design, supply, installation, testing, and commissioning of infrastructure projects across sectors such as power transmission and distribution, water supply, railways, and renewable energy.
With a market capitalization of Rs. 1,471.38 Crores, the shares of Vikran Engineering Ltd have declined almost 51 percent from a 52-week high of Rs. 118.40 to the current market price of Rs. 57.05. The Ace Investor Ashish Kacholia holds a 1.52 percent stake in the company as of December 2025.
Quadrant Future Tek Ltd
Quadrant Future Tek Limited is an Indian technology-driven manufacturing company that specializes in producing specialty cables and developing advanced train control and signalling systems, particularly for projects like the KAVACH safety system used by Indian Railways. It operates modern cable manufacturing facilities and engineering centers, catering to sectors such as railways, defense, renewable energy, and electric vehicles.
With a market capitalization of Rs. 1,139.80 Crores, the shares of Quadrant Future Tek Ltd have declined almost 52 percent from a 52-week high of Rs. 605.00 to the current market price of Rs. 284.95. The Ace Investor Ashish Kacholia, through its associate named Suryavanshi Commotrade Private Limited and Bengal Finance and Investment Pvt Ltd, holds a 1.91 percent and 1.55 percent stake in the company as of December 2025.
Balu Forge Industries Ltd
Balu Forge Industries Ltd is an Indian precision engineering and manufacturing company that specializes in producing forged crankshafts and other high-precision forged components used across industries such as automotive, agriculture, railways, marine, defense, and industrial machinery. It supplies both fully finished and semi-finished components—including transmission parts, hydraulic components, and brake parts.
With a market capitalization of Rs. 4,730.19 Crores, the shares of Balu Forge Industries have declined almost 46 percent from a 52-week high of Rs. 784.00 to the current market price of Rs. 438.40. The Ace Investor Ashish Kacholia holds a 1.56 percent stake in the company as of March 2025.
Beta Drugs Ltd (46%)
Beta Drugs Limited is an Indian pharmaceutical company focused primarily on oncology (anti-cancer) drugs, with its headquarters in Panchkula and manufacturing facilities in Baddi, Himachal Pradesh. The company develops, manufactures, and markets anti-cancer formulations, active pharmaceutical ingredients (APIs), and intermediates, serving both domestic and international markets.
With a market capitalization of Rs. 1,089.72 Crores, the shares of Beta Drugs Ltd have declined almost 46 percent from a 52-week high of Rs. 2,000.00 to the current market price of Rs. 1,075.00. The Ace Investor Ashish Kacholia holds a 5.78 percent stake in the company as of December 2025, and through its associate Suryavanshi Commotrade Private Limited, holds a 6.74 percent stake in the company.
Safari Industries (India) Ltd
Safari Industries Ltd is a leading Indian luggage and travel accessories company. The company designs, manufactures, and markets a wide range of products, including hard and soft luggage, backpacks, duffel bags, and travel accessories under brands like Safari and Genie. It operates through a mix of domestic manufacturing and outsourced production, with a strong distribution network across India, including retail stores and e-commerce platforms.
With a market capitalization of Rs. 7,353.99 Crores, the shares of Safari Industries have declined almost 41 percent from a 52-week high of Rs. 2,503.80 to the current market price of Rs. 1501.00. The Ace Investor Ashish Kacholia holds a 1.84 percent stake in the company as of December 2025.
Stove Kraft Ltd
Stove Kraft Limited is an Indian consumer kitchen appliances and cookware company. It manufactures and markets cookware, kitchen appliances, and electric cooking solutions under popular brands like Pigeon and Gilma, catering to both urban and rural households. The company operates a combination of manufacturing facilities and distribution networks across India and exports select products internationally.
With a market capitalization of Rs. 1,604.05 Crores, the shares of Stove Kraft Ltd have declined almost 41 percent from a 52-week high of Rs. 814.00 to the current market price of Rs. 484.50. The Ace Investor Ashish Kacholia holds a 1.74 percent stake in the company as of December 2025.
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