Neutral impactCorporate Action
From CDMO to aerospace: How Vikas Khemani finds India’s next big themes
Economic Times 54 min ago·23 Oct 2026, 3:30 am
Vikas Khemani, the founder of Carnelian Capital, is expanding his investment firm beyond its core business of providing research and advisory services. The firm has launched a new mutual fund focused on small-cap stocks, with a total asset size limited to ₹5,000 crore. This move signals Khemani's confidence in India's domestic growth story and his intent to manage capital actively rather than passively.
For investors, this development highlights a shift in strategy towards manufacturing, financials, and information technology. Khemani has emphasized that investors should not confuse a company's market capitalization with its valuation. By focusing on these specific sectors and managing the fund's size carefully, the strategy aims to position itself to benefit from the next phase of market re-rating.
Moving forward, investors should monitor the fund's performance and its adherence to the stated ₹5,000 crore cap. Observing how Khemani navigates expensive growth opportunities will be key. The focus remains on identifying high-quality companies within the chosen sectors that can sustain growth and deliver value over the long term.
Excerpt from Economic Times
Now, as Carnelian has ventured into mutual fund business by launching a small-cap fund with a ₹5,000 crore cap, Khemani is focusing on manufacturing, financials and IT while warning investors against confusing market capitalisation with valuation. In an interview, he explains how the fund plans to manage size, assess…Read the original at Economic Times
Key takeaways
- Category: Corporate Action.
- Assessed as a significant, market-relevant update.
Why it matters
A meaningful update worth tracking. Use the price and stock snapshot to gauge how the market is responding.
