Update research from QuotedData

RNS Number : 6824D

India Capital Growth Fund Limited

08 July 2016

 

India Capital Growth Fund Ltd - Update research from QuotedData

8^th July 2016

Indian powerhouse

India Capital Growth's (IGC's) net asset value (NAV) is up 28.8% since QuotedData's last note was published on 23 March 2016 (its price is up 20.1%) yet, in recent weeks, its discount has widened to 20.4%. The managers cannot see any obvious reason why the discount should be widening.

India shines as a bright spot in a world beset by economic problems: GDP growth is running at 7.9%. The managers of IGC believe, that whilst a series of sometimes painful, but very necessary adjustments is ongoing, India's economy is now on a more stable footing and earnings growth, to date the missing ingredient in the bull case for Indian equities, is set to materialise. IGC, with its focus on small- and medium-sized stocks in India, is ideally placed to benefit. IGC is poised to expand its share capital by 50% as the August exercise date for its subscription shares approaches.

Full research:

http://quoteddata.com/2016/07/india-capital-growth-indian-powerhouse/

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NB: this note has been prepared for India Capital Growth by Marten & Co and is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors.

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