Net Asset Value(s)

RNS Number : 9263W

India Capital Growth Fund Limited

05 August 2009

 



India Capital Growth Fund Limited

05 August 2009

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

31 July 2009 NAV Statement

Net Asset Values

The Company announces its net asset values per share as at 31 July 2009:

Net asset value per share - undiluted                           49.32p

Net asset value per share - fully diluted                       49.32p

Update

NAV was up 1.7% in the month. The BSE Sensex and the BSE Small Cap Index were both up 8.1% over the month, and the Rupee appreciated marginally (0.4%) against Sterling. 

FIIs continued investing heavily and purchased a net USD 2.3 billion in Indian equities in June.  

The concerns over the monsoon have reduced somewhat, with the Indian Meteorological Department now projecting a monsoon 19% below normal compared to an  earlier forecast of a 54% shortfall. The latest wholesale price information showed a fall of 1.54% in the year to 18 July 2009, very much in line with expectations.  However consumer prices are continuing to rise with the latest data (to end May 2009) showing an annual rise of 8.63% 

The Company is using present price levels to sell down from three investments while continuing to identify and analyse new opportunities. At 31 July 2009, cash and cash equivalents made up 13.3% of the portfolio. Unlisted investments, the value of which has been left unchanged, accounted for a further 7.1%.

Information on the principal investee companies, updated monthly, is contained in the Presentation on the Company's web site (www.indiacapitalgrowth.com).

Analysis of holdings at 31 July 2009 

Sector Summary	No. of Companies	% of Portfolio
Textiles	2	18.5%
Financial Services	3	13.5%
Transport	2	10.7%
Process Controls	1	8.5%
Media	2	7.9%
Pharma services and packaging	1	7.7%
Housing & Construction	2	6.1%
Engineering / Manufacturing	2	5.1%
IT	3	4.6%
Hotels	1	2.9%
Others	1	1.2%
Total Investment	20	86.7%
Net Cash/Cash equivalent		13.3%
Total Portfolio		100.0%

 Top 10 equity holdings at 31 July 2009

Holding	Sector	% of Portfolio
S. Kumars Nationwide	Textiles	14.7%
ICSA India	Process Controls	8.5%
Bilcare	Pharmaceutical services and packaging	7.7%
Varun Shipping	Transportation	7.6%
Marwadi Shares & Finance	Financial Services	7.1%
Prime Focus	Media	6.1%
Hindustan Dorr-Oliver	Engineering / Manufacturing	4.3%
Arihant Foundations & Housing	Housing and Construction	3.9%
Grabal Alok Impex	Textiles	3.8%
Bank Of Rajasthan	Financial Services	3.6%

Portfolio breakdown by size at 31 July 2009

Size	No. of Companies	% of Portfolio
Small Cap	17	64.9%
Mid Cap	1	14.7%
Unlisted	2	7.1%
Cash/Cash Equivalent		13.3%
Total	20	100.0%

 

END

 

 

NAVUUUCGRUPBGGA