Net Asset Value
05 October 2023
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 29 September 2023
The Company announces its Net Asset Value ("NAV") per ordinary share as at 29 September 2023 was 172.31 pence.
In September, the NAV was up 4.19% in Sterling terms, whilst the BSE MidCap TR Index was up 7.18%, delivering an underperformance against the notional benchmark of 3.00%. In local currency terms, the NAV was up 0.79%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 29 September 2023 was 180.17 pence.
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Portfolio analysis by sector as at 29 September 2023 |
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Sector |
No. of Companies |
% of Portfolio |
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Financials |
7 |
24.4% |
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Consumer Discretionary |
8 |
18.3% |
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Materials |
7 |
15.5% |
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Industrials |
7 |
14.3% |
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Consumer Staples |
3 |
9.6% |
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Information Technology |
2 |
5.5% |
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Health Care |
1 |
3.6% |
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Communication Services |
1 |
2.7% |
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Real Estate |
0 |
0.0% |
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Energy |
0 |
0.0% |
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Utilities |
0 |
0.0% |
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Total Equity Investment |
36 |
93.9% |
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Cash & cash equivalents |
|
6.1% |
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Total Portfolio |
36 |
100.0% |
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Top 20 holdings as at 29 September 2023 |
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Holding |
Sector |
% of Portfolio |
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Federal Bank |
Financials |
6.0% |
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IDFC Bank |
Financials |
5.6% |
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Indusind Bank |
Financials |
4.8% |
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Ramkrishna Forgings |
Materials |
4.3% |
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Emami |
Consumer Staples |
3.9% |
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Skipper |
Industrials |
3.9% |
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Dixon Technologies |
Consumer Discretionary |
3.6% |
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Neuland Laboratories |
Health Care |
3.6% |
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Persistent Systems |
Information Technology |
3.6% |
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Sona BLW Precision Forgings |
Consumer Discretionary |
3.2% |
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Jyothy Laboratories |
Consumer Staples |
3.0% |
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PI Industries |
Materials |
2.8% |
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Welspun India |
Consumer Discretionary |
2.8% |
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Affle India |
Communication Services |
2.7% |
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CCL Products India |
Consumer Staples |
2.7% |
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Kajaria Ceramics |
Industrials |
2.6% |
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Balkrishna Industries |
Consumer Discretionary |
2.6% |
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RBL Bank |
Financials |
2.5% |
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VIP Industries |
Consumer Discretionary |
2.5% |
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JK Lakshmi Cement |
Materials |
2.4% |
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Portfolio analysis by market capitalisation size as at 29 September 2023 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
|
Small Cap (M/Cap < US$2bn) |
18 |
44.2% |
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Mid Cap (US$2bn < M/Cap < US$8bn) |
15 |
41.6% |
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Large Cap (M/Cap > US$8bn) |
3 |
8.0% |
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Total Equity Investment |
36 |
93.9% |
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Net Cash |
|
6.1% |
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Total Portfolio |
36 |
100.0% |
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