Good evening :)

Latest Vikas Khemani Portfolio and Shareholdings

Vikas Khemani built his career at the intersection of research, capital markets, and long-term investing. Before launching Carnelian Asset Management in 2019, he spent nearly 17 years at Edelweiss Financial Services, where he rose to lead institutional equities and later served as CEO of Edelweiss Securities. This article takes a closer look at his portfolio, major holdings, and the principles that guide his investment decisions.

Latest Vikas Khemani Stock Portfolio & Holdings (2026)

Vikas Khemani Portfolio Stock Screener

Vikas Khemani Portfolio Stock Screener: Analyse & Filter Indian Stocks on Tickertape

Created by

@tickertapetickertape

Showing 1 - 6 of 6 results

last updated at 6:30 AM IST 
NameStocks (6)↓↓Sub-SectorSub-Sector↓↓Market CapMarket Cap↓↓Close PriceClose Price↓↓PE RatioPE Ratio↓↓1D Return1D Return↓↓1M Return1M Return↓↓6M Return6M Return↓↓1Y Return1Y Return↓↓PB RatioPB Ratio↓↓Return on EquityReturn on Equity↓↓ROCEROCE↓↓Dividend YieldDiv Yield↓↓Debt to EquityDebt to Equity↓↓Volatility vs NiftyVolatility vs Nifty↓
1.PTC Industries LtdPTCILIron & SteelIron & Steel26,832.1626,832.1617,936.0017,936.00439.80439.80-0.07-0.073.263.2628.4928.4972.2472.2419.3519.356.006.005.965.96--0.040.042.862.86
2.Man Industries (India) LtdMANINDSBuilding Products - PipesBuilding Products - Pipes3,377.683,377.68461.95461.9522.0522.052.592.5949.1849.1820.8520.85106.55106.552.102.1010.1710.1717.1717.17--0.300.304.604.60
3.Capacite Infraprojects LtdCAPACITEConstruction & EngineeringConstruction & Engineering2,098.602,098.60242.84242.8410.3610.36-2.10-2.1012.6912.69-16.07-16.07-20.92-20.921.221.2212.5212.5217.5217.52--0.250.252.972.97
4.Upsurge Investment and Finance LtdUPSURGEDiversified FinancialsDiversified Financials162.22162.2272.0672.0610.1710.17-2.62-2.622.602.60-27.94-27.94-24.15-24.151.551.5520.9120.9118.6418.640.620.620.000.003.713.71
5.Chemtech Industrial Valves LtdCHEMTECHIndustrial MachineryIndustrial Machinery113.20113.2064.5964.5916.1516.152.352.35-11.22-11.22-36.68-36.68-44.37-44.371.181.1810.7210.729.989.98--0.000.003.653.65
6.Chetana Education LtdCHETANAEducation ServicesEducation Services87.9287.9239.7039.706.486.48-7.89-7.89-9.77-9.77-52.48-52.48-52.17-52.171.111.1126.0626.0625.8825.88--0.280.285.265.26
Edit Filters

Analyse Vikas Khemani Portfolio Stocks Further

Visit 'Vikas Khemani Portfolio’ ScreenerScreener

Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

Selection criteria: The table contains publicly disclosed Vikas Khemani investment portfolio as on 10th February 2026. Stocks are sorted by market capitalisation, highest to lowest.

Vikas Khemani’s Bulk and Block Deals

Bulk and block deals improve market transparency and explain sharp changes in stock volumes. These disclosures help track where large investors deploy capital and which sectors attract or lose interest over time. Analysts often review such deals to understand portfolio shifts and changing market sentiment.


Here’s how you can find the latest bulk and block deals by Vikas Khemani:

  1. Open Market Movers
  2. Under Party, type Vikas Khemani
  3. Select the relevant Category and Transaction Type

The results show Vikas Khemani’s latest bulk and block deals. The platform also allows date filtering to review historical transactions and identify patterns over time.

Investor Profile – Vikas Khemani

Vikas Khemani built his identity in the Indian stock market through deep research, a sharp understanding of businesses, and 25 years of capital markets experience. He studied management and entered financial markets when organised research and institutional participation were expanding rapidly in India.

  1. Name: Vikas Khemani
  2. Profession: Investor, Founder & CIO, Carnelian Asset Management
  3. Experience: Over two decades in capital markets
  4. Total net worth (₹): ₹894.38 cr.
  5. Portfolio size: 6 active stocks
  6. Known for: Research focus, institutional insight, disciplined portfolio construction

He spent nearly 17 years at Edelweiss Financial Services, where he helped build the institutional equities business. Over time, he rose to become the CEO of Edelweiss Securities. He worked closely with large domestic and foreign investors and gained strong exposure to multiple sectors.

In 2019, he started Carnelian Asset Management. At Carnelian, he leads investments with a structured process. Vikas focuses on companies that show durability, governance discipline, and the ability to perform across market cycles.

Top Stocks in Vikas Khemani Portfolio (2026)

PTC Industries Ltd

PTC Industries Ltd manufactures high-precision metal castings for aerospace, defence, and industrial applications. The company focuses on specialised metallurgy, complex components, and export markets. Its capabilities in titanium and superalloys position it within high-entry-barrier engineering segments.

Man Industries (India) Ltd

Man Industries (India) Ltd produces large-diameter pipes for oil, gas, water, and infrastructure projects. The business benefits from energy transportation demand and government-led pipeline expansion. It maintains manufacturing facilities in India and serves international clients.

Upsurge Investment & Finance Ltd

Upsurge Investment & Finance Ltd operates in investment and financial services activities. The company engages in capital market participation, lending, and treasury-style operations. Its performance reflects movements in financial assets and market conditions.

Chemtech Industrial Valves Ltd

Chemtech Industrial Valves Ltd manufactures industrial valves for sectors such as oil and gas, chemicals, and power. The company serves process industries where safety, pressure control, and reliability matter most.

Unified Data- Tech Solutions Ltd

Unified Data‑Tech Solutions Ltd provides technology infrastructure and system integration solutions. Its offerings include data centre services, networking, cybersecurity, and enterprise IT deployment for corporate and institutional clients.

Vikas Khemani Portfolio Composition

Here is a list of the 7 active stocks that are part of Vikas Khemani's portfolio in 2026 as per the latest filings:

Stock Name Holding Value (In cr.) Shares Held Dec 2025 Change (%) Dec 2025 Holding (%)
PTC Industries Ltd 780 422,670 -0.01 2.82
Man Industries (India) Ltd 77.7 1,791,256 0.21 2.39
Capacite Infraprojects Ltd 37.2 1,470,000 0 1.74
Chemtech Industrial Valves Ltd 10.6 1,500,000 0 8.36
Upsurge Investment and Finance Ltd 10.4 1,380,000 0 6.88
Chetana Education Ltd 4.8 1,017,600 0 4.99

How to Invest in Vikas Khemani Portfolio Stocks?

Here's how you can invest in Vikas Khemani portfolio stocks using Tickertape -

  1. Create an account on the Tickertape or log in if you already have one.
  2. Open Vikas Khemani Portfolio Screener
  3. Filter stocks based on 200+ parameters. Tickertape provides comprehensive data on each stock, including financials, performance metrics, future projections, red flags, and more. You can review this data to assess each company's financial health and potential in depth.
  4. Once you've decided on a stock, you can place a buy order through your brokerage account linked to Tickertape.

You can stay updated with each of your favourite stocks' alerts and announcements with Tickertape Alerts. Further, you can analyse your overall portfolio and potential red flags in it by connecting it to Tickertape. Check out the detailed analysis of your portfolio now!

Vikas Khemani Net Worth

Based on the latest publicly available shareholding disclosures, Vikas Khemani’s tracked equity portfolio carries a market value of about ₹894.38 cr. The figure changes every quarter because stock prices move and portfolio allocations may get updated through fresh filings.

Vikas Khemani's Investment Strategy

Process-Led, Bottom-Up Stock Picking

Vikas Khemani follows a research-first style. His Carnelian frameworks emphasise fundamental-driven growth investing and bottom-up stock selection, instead of buying themes blindly. The process aims to stay objective and focus on risk-reward, not market noise.

Multi-Cap, Sector-Agnostic Portfolio Build

He uses a long-only, multi-cap approach and keeps the portfolio sector-agnostic. The idea is to find the best opportunities across Indian listed equities, rather than force-fit allocations into fixed sector buckets.

“Magic–Compounder–Opportunistic” Blend

Carnelian’s portfolio construction uses a three-basket approach. It mixes Magic (accelerated growth), Compounder (stable growth), and Opportunistic ideas. This structure tries to balance steady compounding with selective upside when the setup looks favourable.

Forensic Checks to Avoid “Accidents”

A key part of Vikas Khemani’s investment strategy is forensic diligence through the CLEAR framework. It checks cash flows, liabilities, earnings quality, asset quality, and related-party or governance risks. The intent is to avoid companies that look good on paper but hide stress.

Long-Term Lens Over Tactical Churn

Vikas repeatedly stresses that investors should not change portfolio positioning every day. He frames portfolio building around a 5–10 year view, with sector exposure guided by long-term trends like manufacturing, financials, and consumption rather than short-term calls.

Learnings from the Vikas Khemani Portfolio in 2026

Conviction Shows in Concentration

Vikas Khemani dominates his portfolio with a few core holdings. PTC Industries Ltd often forms a large portion of the total value. He places large, concentrated bets on businesses where he has a strong conviction. He avoids spreading capital evenly across many companies.

Focus on Mid/Specialist Segments

His stock list spans infrastructure, industrials, finance, and niche segments. He includes companies outside traditional large-cap favourites. This shows his willingness to look beyond highly crowded sectors. He taps into opportunities where business fundamentals evolve and gains recognition over time.

Patience and Long-Term Perspective

Khemani keeps allocations stable across quarters. Updates show a gradual evolution in his portfolio structure. This implies he adopts a patient, long-term investment lens. He avoids frequent trading based on short-term volatility. His regular public comments reflect his belief in staying invested through normal market cycles.

Fundamentals Over Hype

In his public commentary, Khemani emphasises avoiding speculative narratives. He focuses on companies with strong financials, sustainable earnings, and robust business models. This aligns with how his portfolio favours companies with visible operating clarity.

Sector Flexibility in Allocations

Khemani shows concentration, but his mix of holdings reveals no rigid sector bias. He allocates based on opportunities. This matches his multi-cap, sector-agnostic strategy. He scans across industries for value and growth.

Install the Tickertape app and enjoy a more hands-on investing experience
  • portfolio-iconReceive real-time market alerts for timely decisions
  • portfolio-iconMonitor your portfolio from the palm of your hands
  • portfolio-iconWatchlist stocks and mutual funds to stay updated
Download Now

Factors Affecting Stock Selection in the Vikas Khemani Portfolio

Business Quality and Management

Vikas Khemani’s process starts with identifying quality growth businesses led by capable management teams. He looks for companies that can sustain growth through cycles, instead of relying on one-off triggers. His public PMS framework puts “quality businesses, quality management” at the centre.

Reasonable Valuation and Risk-Reward

He filters ideas through a risk-reward lens and avoids paying up purely for excitement. His public commentary also reinforces this approach, where he asks investors to stay with strong fundamentals and avoid “frothy narratives.”

Forensic Checks Using CLEAR

His stock selection process includes a forensic screen called CLEAR. It checks cash-flow reality, hidden liabilities, earnings quality, asset quality, and related-party or governance risks. Stocks that fail these checks do not move forward in the process.

Portfolio Role Using MCO Buckets

He builds the portfolio using a three-bucket structure. It blends Magic (accelerating growth), Compounder (stable growth), and Opportunistic ideas. This framework influences which stocks enter the portfolio and how much weight they get.

Multi-Cap Sector-Agnostic Scanning

He does not restrict stock selection to one market-cap segment or one sector. His stated strategy stays multi-cap and sector-agnostic, which means he looks for the best setups across the listed market rather than forcing fixed sector allocations.

Avoiding FOMO-Led Participation

He consistently warns against buying into late-stage euphoria. He has spoken about avoiding FOMO behaviour and staying disciplined, especially when markets get crowded or narratives run ahead of fundamentals. This behaviour shapes what he avoids as much as what he buys.

Conclusion

Vikas Khemani builds portfolios using research discipline, valuation awareness, and strong filters around governance and risk. His approach shows how process, patience, and clarity about business quality guide capital allocation across market cycles. However, financial goals, time horizon, and risk capacity differ for every individual. One should study companies independently before taking exposure.

For deeper analysis, readers can explore stocks using the Tickertape Stock Screener, which provides 200+ filters across financials, growth metrics, and valuation parameters. Tracking institutional activity through Tickertape Market Movers can also help understand how ownership patterns evolve.

Popular Stock Collections

Popular Mutual Fund Collections

Frequently Asked Questions About the Vikas Khemani Portfolio

  1. Who is Vikas Khemani?

    Vikas Vijaykumar Khemani is an Indian market professional and the founder and CIO of Carnelian Asset Management. He previously spent many years at Edelweiss Financial Services, where he led the institutional equities business.

  2. What is Vikas Khemani's net worth?

    Based on the latest publicly disclosed shareholdings, the tracked value of Vikas Khemani's listed equity portfolio stands at around ₹894.38 cr. The number can change with market prices and new filings.

    Disclaimer: The above information is based on publicly available information and may change with subsequent disclosures.

  3. What kind of companies does Vikas Khemani invest in?

    Vikas Vijaykumar Khemani's portfolio often includes businesses from manufacturing, industrials, finance, and specialised segments. He generally focuses on companies where earnings visibility, governance standards, and scalability remain important.

    Disclaimer: The above information is based on publicly available information and may change with subsequent disclosures.

  4. Where can I track changes in Vikas Khemani's stock holdings?

    Investors can follow quarterly shareholding disclosures filed with stock exchanges. Tools like the Tickertape Market Movers can help investors monitor ownership updates and portfolio movements.

  5. What is the name of Vikas Khemani's fund?

    Vikas Khemani is the founder and Chief Investment Officer of Carnelian Asset Management. The firm manages portfolios across strategies that focus on disciplined research, risk control, and long-term wealth creation.

  6. What companies has Vikas Khemani invested in?

    As per the latest public shareholding disclosures in February 2026, Vikas Khemani holds stakes in a focused set of companies, such as:
    1. PTC Industries Ltd
      2. Man Industries (India) Ltd
    2. Upsurge Investment & Finance Ltd
    3. Chemtech Industrial Valves Ltd
    4. Unified Data- Tech Solutions Ltd

    Disclaimer: This information on Vikas Vijaykumar Khemani Portfolio is for educational purposes only and should not be considered investment advice.

  7. What is Vikas Khemani Carnelian?

    Vikas Khemani founded Carnelian Asset Management in 2019 and serves as its Chief Investment Officer. He leads the firm's investment philosophy, portfolio construction, and research framework, focusing on disciplined, process-driven long-term investing across Indian equities.

Disclaimer: This article is for informational purposes only. The content of the article, including securities/investment products mentioned, if any, should not in any manner be construed as investment advice, recommendation, offer, or solicitation to buy/hold/sell any securities/investment products. The securities quoted, if any, are for illustration only and are not recommendatory. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered financial advisor before investing.