Archive · 18 Aug 2026
Dolly Khanna's portfolio shrinks to three dividend-paying stocks
Dolly Khanna is a famous investor in India who likes to buy shares of small companies.
She has been picking stocks since 1996.
In March 2026, she owned more than 1% of nine companies.
By June 2026, that number had fallen to just three.
She let go of six companies, including a beer maker, a coffee company, and an agrochemical firm.
The three companies she kept are an oil refiner, a steelmaker, and a hotel.
All three share one habit: they pay money back to their shareholders as dividends.
Her biggest holding is Chennai Petroleum Corporation, which makes up about 82% of her portfolio.
She even bought more shares of the hotel company, Savera Industries.
Whether this cleanup shows strong belief or caution will only become clear in the coming months.
Dolly Khanna's disclosed portfolio shrank from nine companies in March 2026 to three by June 2026.
Six companies — Emkay Global, Rain Industries, Som Distilleries, Sharda Cropchem, Southern Petrochemical Industries, and Coffee Day Enterprises — fell below the 1% disclosure threshold.
The surviving portfolio is worth about Rs 308 crore and consists of Chennai Petroleum Corporation, Prakash Industries, and Savera Industries.
Chennai Petroleum Corporation is her largest holding, a 1.3% stake worth about Rs 257 crore, accounting for nearly 82% of her disclosed portfolio.
All three surviving companies pay dividends to shareholders, and Khanna raised her stake in Savera Industries from 1.1% to 1.7%.
- Who
- Dolly Khanna, the Chennai-based investor whose portfolio is managed by her husband Rajiv Khanna
- What
- Her disclosed portfolio shrank from nine companies to three, keeping Chennai Petroleum Corporation, Prakash Industries, and Savera Industries
- When
- Between March 2026 and June 2026, based on her June 2026 shareholding filings
- Where
- India; Khanna is based in Chennai, and the companies operate across India, including Chennai, Chhattisgarh, and the Manali refinery
- Why
- The six dropped companies fell below the 1% disclosure threshold, while the three survivors all share the habit of paying dividends to shareholders
- Portfolio value
- Rs 308 crore
- Holdings in March 2026
- 9 companies
- Holdings in June 2026
- 3 companies
- Largest holding
- Chennai Petroleum Corporation — 1.3% stake worth about Rs 257 crore
- CPCL dividend yield
- 4.6%
- Prakash Industries stake
- 2.1% (trimmed from 2.3%)
- Savera Industries stake
- 1.7% (raised from 1.1%)
- CPCL market cap
- Rs 20,025 crore