Rakesh Jhunjhunwala & Associates took a defensive stance in March 2025, offloading high-volatility stocks. They reduced their stake in Nazara Technologies from 7.23% to 7.06% and Baazar Style Retail from 3.65% to 3.39%. Meanwhile, their stake in Federal Bank increased from 1.42% to 1.48%, favouring banking's steady performance. A sharp cut in Sundrop Brands (7.03% to 4.94%) signals FMCG caution.