Veteran investor Madhusudan Kela has further reinforced his bullish stance on Non-Banking Financial Companies (NBFCs), as evidenced by his portfolio changes in March 2025. He significantly increased his holding in Indostar Capital by 2.5%, bringing his stake to a substantial 5%, signalling strong confidence in the firm. Kela also made a fresh entry into SG Finserve, acquiring a 1.7% stake.