REG - India CapitalGrwthFd - Net Asset Value

India Capital Growth FundAnnouncement

06/12/2023 10:00

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RNS Number : 8806V  India Capital Growth Fund Limited  06 December 2023

06 December 2023

India Capital Growth Fund Limited (the "Company" or "ICGF")

Net Asset Value statement at 30 November 2023

The Company announces its Net Asset Value ("NAV") per ordinary share as at 30
November 2023 was 175.26 pence.

In November, the NAV was up 3.10% in Sterling terms, whilst the BSE MidCap TR
Index was up 4.95%, delivering an underperformance against the notional
benchmark of 1.85%. In local currency terms, the NAV was up 7.90%.

The Company also announces its Net Asset Value per ordinary share before
Indian CGT (deferred tax provision) as at 30 November 2023 was 183.61 pence.

 

 Portfolio analysis by sector as at 30 November 2023

 Sector                                   No. of Companies        % of Portfolio
 Financials                               7                       24.1%
 Materials                                7                       17.5%
 Consumer Discretionary                   7                       17.0%
 Industrials                              7                       13.5%
 Consumer Staples                         3                       9.7%
 Information Technology                   2                       5.5%
 Health Care                              1                       4.5%
 Communication Services                   1                       2.6%
 Real Estate                              0                       0.0%
 Energy                                   0                       0.0%
 Utilities                                0                       0.0%
 Total Equity Investment                  35                      94.3%
 Cash & cash equivalents                                          5.7%
 Total Portfolio                          35                      100.0%

 Top 20 holdings as at 30 November 2023

 Holding                                  Sector                  % of Portfolio
 Federal Bank                             Financials              5.7%
 IDFC Bank                                Financials              4.7%
 Indusind Bank                            Financials              4.7%
 Neuland Laboratories                     Health Care             4.5%
 Ramkrishna Forgings                      Materials               4.3%
 Emami                                    Consumer Staples        4.2%
 Skipper                                  Industrials             4.1%
 PI Industries                            Materials               3.9%
 Persistent Systems                       Information Technology  3.7%
 Dixon Technologies                       Consumer Discretionary  3.5%
 Welspun India                            Consumer Discretionary  3.4%
 JK Lakshmi Cement                        Materials               2.9%
 Sona BLW Precision Forgings              Consumer Discretionary  2.9%
 Jyothy Laboratories                      Consumer Staples        2.9%
 Multi Commodity Exchange                 Financials              2.7%
 RBL Bank                                 Financials              2.7%
 CCL Products India                       Consumer Staples        2.6%
 Affle India                              Communication Services  2.6%
 City Union Bank                          Financials              2.6%
 Kajaria Ceramics                         Industrials             2.5%

 Portfolio analysis by market capitalisation size as at 30 November 2023
                                          No. of Companies        % of Portfolio

 Market capitalisation size
 Small Cap (M/Cap < US$2bn)               19                      47.8%
 Mid Cap (US$2bn < M/Cap < US$8bn)        13                      38.9%
 Large Cap (M/Cap > US$8bn)               3                       7.6%
 Total Equity Investment                  35                      94.3%
 Net Cash                                                         5.7%
 Total Portfolio                          35                      100.0%

 

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