reneshs,
I don't believe Splunk will do this natively. Its job is not filesystem management. It does have granular RBAC (Role-based Access Controls) that can be applied inside of Splunk; however, I don't know of anything that would allow you to manipulate the results once it got to the filesystem.
You can do this outside of Splunk if you want, by having your savedsearch trigger a shell script upon successful completion that would chown/chmod the files/directory that Splunk wrote the results to. You can read more about it here: http://docs.splunk.com/Documentation/Splunk/latest/admin/Configurescriptedalerts
Best,
Sean
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