Ather Energy, Shilchar Tech and 5 Other Stocks Held by Nikhil Kamath to Add to Your Watchlist
Nikhil Kamath, co-founder of Zerodha, is one of India’s most prominent entrepreneurs and investors, known for his keen interest in financial markets, startups, and wealth creation. His investment choices often attract attention from retail investors looking to understand how experienced market participants identify potential opportunities. The stocks associated with his portfolio offer an interesting starting point for exploring his investment interests and the companies that have caught the attention of one of India’s best-known market entrepreneurs.
These investments are held through entities such as Kamath Associates, NKSquared, and Zerodha Broking, associated with Nikhil Kamath and Nithin Kamath, the co-founders of Zerodha. In this article, we take a closer look at seven stocks linked to their disclosed investments, covering the companies’ core business activities and their respective shareholdings across diverse sectors, including electric mobility, jewellery, gaming, hospitality, defence, and manufacturing.
Also Read: Rallis India Q2; standalone revenue at ₹858 Cr as net profit slips 16.7% YoY to ₹85 Cr amid monsoon headwinds
Here are seven stocks held by Zerodha founder Nikhil Kamath
Ather Energy Limited
With a market capitalization of Rs. 54,899.83 crore, the shares of Ather Energy Limited were currently trading at Rs. 1383.85 per equity share, down nearly 2.89 percent from its previous day’s closing price of Rs. 1,425 per equity share.
Zerodha founder Nikhil Kamath holds a combined 2.16 percent stake in Ather Energy Limited through two investment entities, reflecting his exposure to India’s electric two-wheeler market. Kamath Associates holds a 1.09 percent stake, comprising 43,03,719 shares valued at approximately Rs. 593 crore.
Meanwhile, NKSquared holds a 1.07 percent stake, representing 42,30,943 shares worth around Rs. 583 crore. Together, these holdings are valued at approximately Rs. 1,176 crore, highlighting a significant investment in Ather Energy’s growth prospects and India’s evolving electric mobility sector.
Ather Energy Limited is an Indian electric vehicle (EV) company headquartered in Bengaluru, Karnataka. Founded in 2013, the company designs and manufactures electric scooters and develops supporting technology for electric mobility. Its product portfolio includes the Ather 450 series and the Ather Rizta, catering to different customer needs.
Shilchar Technologies Limited
With a market capitalization of Rs. 4,043.54 crore, the shares of Shilchar Technologies Limited were currently trading at Rs. 3534.50 per equity share, down nearly 1.93 percent from its previous day’s closing price of Rs. 3,603.95 per equity share.
Nikhil Kamath holds a 1.36 percent stake in Shilchar Technologies Limited through Zerodha Broking, representing 1,55,053 shares valued at approximately Rs. 54.84 crore, highlighting his investment exposure to the company.
Shilchar Technologies Limited is an Indian manufacturer of power, distribution, and electronic transformers, with its operations based in Gujarat. The company supplies transformers to customers in utility, industrial, renewable energy, and infrastructure sectors. Its products support electricity transmission and distribution, solar and wind power projects, and industrial power requirements.
Bluestone Jewellery & Lifestyle Limited
With a market capitalization of Rs. 11,170.19 crore, the shares of Bluestone Jewellery & Lifestyle Limited were currently trading at Rs. 731.05 per equity share, down nearly 3.87 percent from its previous day’s closing price of Rs. 760.45 per equity share.
Nikhil Kamath holds a combined 2.18 percent stake in Bluestone Jewellery & Lifestyle Limited through two investment entities. Kamath Associates holds a 1.09 percent stake, comprising 16,59,376 shares valued at approximately Rs. 116.16 crore.
Meanwhile, NKSquared also holds a 1.09 percent stake, representing 16,59,376 shares worth around Rs. 116.16 crore. Together, the two entities hold 33,18,752 shares valued at approximately Rs. 232.32 crore, reflecting Kamath’s investment exposure to India’s jewellery retail market.
Bluestone Jewellery & Lifestyle Limited is an Indian jewellery retailer established in 2011. Operating under the BlueStone brand, the company designs, manufactures, and sells contemporary fine jewellery, including gold, diamond, platinum, and gemstone-studded products. Its collections cater to everyday wear, celebrations, gifting, and special occasions.
Nazara Technologies Limited
With a market capitalization of Rs. 14,872.32 crore, the shares of Nazara Technologies Limited were currently trading at Rs. 401.45 per equity share, rising nearly 3.44 percent from its previous day’s closing price of Rs. 388.10 per equity share.
Nikhil Kamath holds a combined 4.47 percent stake in Nazara Technologies Limited through three investment entities, reflecting his exposure to India’s gaming and digital entertainment sector. Kamath Associates holds a 1.47 percent stake, comprising 60,19,128 shares valued at approximately Rs. 241.97 crore.
Meanwhile, NKSquared holds a 1.71 percent stake, representing 70,02,752 shares valued at approximately Rs. 281.51 crore, while Zerodha Broking holds a 1.29 percent stake, comprising 52,71,161 shares worth around Rs. 211.90 crore. Together, the three entities hold 1,82,93,041 shares valued at approximately Rs. 735.38 crore, reflecting Kamath’s investment exposure to India's gaming and digital entertainment sector.
Nazara Technologies Limited is an Indian gaming and digital entertainment company with a diversified presence across gaming, esports, sports media, and gamified learning. The company operates through a portfolio of businesses that cater to mobile gamers, esports audiences, and digital consumers. Its activities include interactive gaming content, gaming platforms, educational technology, esports tournaments, and advertising-related services.
Viceroy Hotels Limited
With a market capitalization of Rs. 1,079.17 crore, the shares of Viceroy Hotels Limited were currently trading at Rs. 140.55 per equity share, down nearly 0.04 percent from its previous day’s closing price of Rs. 140.60 per equity share.
Nikhil Kamath holds a combined 6.72 percent stake in Viceroy Hotels Limited through two investment entities. Kamath Associates holds a 3.36 percent stake, comprising 25,77,634 shares valued at approximately Rs. 35.31 crore.
Also Read: Saatvik Green Energy Launches TOPCon 3.0 Solar Module With Up to 745W Output
Meanwhile, NKSquared also holds a 3.36 percent stake, representing 25,78,980 shares worth around Rs. 35.33 crore. Together, the two entities hold 51,56,614 shares valued at approximately Rs. 70.64 crore, reflecting Kamath’s investment exposure to India’s hospitality sector.
Viceroy Hotels Limited is an Indian hospitality company headquartered in Hyderabad, Telangana. The company operates in the hotel and hospitality sector, catering to business travellers, leisure guests, and other hospitality customers. Its business activities include hotel operations, accommodation, food and beverage services, and related hospitality offerings.
Swan Defence and Heavy Industries Limited
With a market capitalization of Rs. 14,207.85 crore, the shares of Swan Defence and Heavy Industries Limited were currently trading at Rs. 2,696.90 per equity share, down nearly 5 percent from its previous day’s closing price of Rs. 2,838.80 per equity share.
Nikhil Kamath holds a 1.04 percent stake in Swan Defence and Heavy Industries Limited through Zerodha Broking, representing 5,50,000 shares valued at approximately Rs. 148.34 crore, highlighting his investment exposure to the company.
Swan Defence and Heavy Industries Limited is an Indian shipbuilding, ship repair, and heavy engineering company based at Pipavav on India's western coast. Formerly known as Reliance Naval and Engineering Limited, the company operates a large shipyard equipped to handle complex vessel construction, repairs, refits, and offshore fabrication projects. Its capabilities support commercial shipping companies, energy businesses, and defence-sector customers.
Avro India Limited
With a market capitalization of Rs. 75 crore, the shares of Avro India Limited were currently trading at Rs. 5.59 per equity share, rising nearly 2.57 percent from its previous day’s closing price of Rs. 5.45 per equity share.
Nikhil Kamath holds a 5.02 percent stake in Avro India Limited through Nksquared, representing 67,38,550 shares valued at approximately Rs. 3.79 crore, highlighting his investment exposure to the company.
Also Read: Reliance Power IPO in 2008 vs Jio Platforms IPO in 2026: Is History Repeating Itself in the Stock Market?
Avro India Limited is an Indian manufacturer of plastic-moulded furniture and recycled plastic materials, headquartered in Ghaziabad, Uttar Pradesh. The company produces a range of furniture products, including chairs, tables, stools, cabinets, and shoe racks, marketed under its brands through online and offline channels. It serves household, commercial, and institutional customers across India through its distribution network.