Pune-based SageOne Investment Managers has acquired 3.2 percent equity stake in kidswear manufacturer Karnika Industries through open market transactions on July 6. According to reports from Moneycontrol, the investment was made via the company's Flagship Growth OE Fund, a Category III alternative investment fund. SageOne purchased 19.91 lakh shares representing 3.2 percent of paid-up equity in the Kolkata-based company for ₹18.18 crore at a buying price of ₹91.33 per share.
The stock market reaction to the investment was immediate and negative, with Karnika Industries shares closing 13.29 percent down at ₹96.90 after experiencing a gap-down opening. As reported by Moneycontrol, the intraday low reached ₹90.25 on the National Stock Exchange. The sharp correction may have provided SageOne with an attractive buying opportunity following the company's recent quarterly earnings announcement over the weekend.
According to the company's quarterly results, Karnika Industries recorded consolidated profit of ₹9.1 crore for the quarter ended June 2026, representing a 1.9 percent decline from ₹9.3 crore in the previous quarter due to lower other income. However, revenue during the same period showed resilience, growing 2.8 percent to ₹73.8 crore. Most notably, EBITDA surged 65.5 percent sequentially to ₹12.7 crore from ₹7.68 crore, with margins expanding significantly by 653 basis points to 17.23 percent from 10.7 percent in the corresponding period.
In separate transactions, Green Portfolio acquired 92,400 shares (0.52 percent stake) in Agarwal Toughened Glass India for ₹1.27 crore at ₹137.74 per share, while The Golden Bird Investment Trust purchased 2.06 lakh shares (1.16 percent stake) for ₹2.86 crore at ₹138.61 per share. As reported by Moneycontrol, VPK Global Ventures Fund sold 1.5 lakh shares (0.84 percent stake) at ₹139.52 per share valued at ₹2.09 crore, while Lloyds Enterprises divested 6.63 lakh shares (0.96 percent stake) in Bharat Wire Ropes for ₹14.6 crore at ₹220.07 per share.
