Net Asset Value(s)

RNS Number : 1120C
India Capital Growth Fund Limited
06 November 2009
 



India Capital Growth Fund Limited


06 November 2009


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


31 October 2009 NAV Statement


Net Asset Values


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


Net asset value per share - undiluted                           51.68p

Net asset value per share - fully diluted                       51.68p


Update


Indian stock markets fell sharply in the month of October with the BSE Sensex index of large cap companies falling by 7.2% and the BSE Small Cap index by 7.0%FIIs however purchased a net USD 1.9 bn of Indian equities, although there was selling at the end of the month which has continued during the first few days of November.  The Company's NAV was down 9.6% in the month, with the Rupee depreciating by 1.6against Sterling.

 The Reserve Bank of India's (RBI'smonetary policy announced during the month indicated an end to stimulus measures and also increased its wholesale inflation forecast from 5% to 6.5% for March 2010

The Company is maintaining its strategy to use present price levels to sell down from some investments while continuing to analyse new opportunities. At 31 October, cash and cash equivalents were 14.1% of the portfolio. Unlisted investments, the value of which has been left unchanged since February 2009, accounted for a further 7.0% of the portfolio. 

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 October 2009 


Sector Summary

No. of Companies

% of Portfolio

Textiles

2

16.1%

Financial Services

3

15.6%

Transport

2

12.3%

Media

2

8.4%

Process Controls

1

8.2%

Pharmaceuticals services and packaging

1

6.7%

Housing & Construction

2

5.8%

Engineering / Manufacturing

1

4.5%

IT

3

4.0%

Hotels

1

3.2%

Others

1

1.1%

Total Investment

19

85.9%

Net Cash/Cash equivalent


14.1%

Total Portfolio


100.0%


Top 10 equity holdings at 31 October 2009 


Holding

Sector

% of Portfolio

S. Kumars Nationwide 

Textiles

13.3%

ICSA India 

Process Controls

8.2%

Varun Shipping Co 

Shipping

7.0%

Marwadi Shares and Finance

Financial Services

7.0%

Bilcare 

Pharmaceuticals services and packaging

6.7%

Prime Focus 

Media

6.6%

Spicejet

Airlines

5.3%

Bank Of Rajasthan 

Banks

4.9%

Hindustan Dorr-Oliver 

Engineering / Manufacturing

4.5%

Prime Securities 

Financial Services

3.7%


Portfolio breakdown by size at 31 October 2009 


Size

No. of Companies

% of Portfolio

Small Cap

15

60.8%

Mid Cap

2

18.1%

Unlisted

2

7.0%

Cash/Cash Equivalent 


14.1%

Total

19

100.0%




This information is provided by RNS
The company news service from the London Stock Exchange
 
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