05 November 2026
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 30 October 2026
The Company announces its Net Asset Value (“NAV”) per ordinary share as at 30 October 2026 was 182.60 pence (Ex Dividend).
In October, the NAV was down 7.24% in Sterling terms, whilst the MSCI India SMID Cap Index was down 4.41%, delivering an underperformance against the notional benchmark of 2.83%. In local currency terms, the NAV was down 6.94%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 30 October 2026 was 193.08 pence (Ex Dividend).
Portfolio analysis by sector as at 30 October 2026 | ||
Sector | No. of Companies | % of Portfolio |
Financials | 6 | 25.4% |
Industrials | 10 | 21.1% |
Consumer Discretionary | 6 | 13.9% |
Materials | 5 | 10.3% |
Health Care | 3 | 8.8% |
Information Technology | 2 | 7.3% |
Consumer Staples | 3 | 6.6% |
Communication Services | 1 | 2.9% |
Energy | 0 | 0.0% |
Real Estate | 0 | 0.0% |
Utilities | 0 | 0.0% |
Total Equity Investment | 36 | 96.1% |
Cash & cash equivalents | 3.9% | |
Total Portfolio | 36 | 100.0% |
Top 20 holdings as at 30 October 2026 | ||
Holding | Sector | % of Portfolio |
Skipper | Industrials | 5.5% |
Multi Commodity Exchange | Financials | 5.4% |
RBL Bank | Financials | 5.2% |
Federal Bank | Financials | 4.5% |
Coforge | Information Technology | 4.0% |
IDFC Bank | Financials | 3.8% |
City Union Bank | Financials | 3.8% |
Dixon Technologies | Consumer Discretionary | 3.5% |
Aether Industries | Health Care | 3.5% |
Neuland Laboratories | Health Care | 3.3% |
Sona BLW Precision Forgings | Consumer Discretionary | 3.2% |
Persistent Systems | Information Technology | 3.2% |
Kajaria Ceramics | Industrials | 3.2% |
Essel Propack | Materials | 3.2% |
Affle India | Communication Services | 2.9% |
CCL Products India | Consumer Staples | 2.7% |
Nuvama Wealth Management | Financials | 2.6% |
Emami | Consumer Staples | 2.5% |
Atlanta Electricals | Industrials | 2.5% |
Uniparts India | Industrials | 2.5% |
Portfolio analysis by market capitalisation size as at 30 October 2026 | ||
Market capitalisation size | No. of Companies | % of Portfolio |
Small Cap (M/Cap < US$3.5bn) | 28 | 63.1% |
Mid Cap (US$3.5bn < M/Cap < US$11.0bn) | 8 | 33.0% |
Large Cap (M/Cap > US$11.0bn) | 0 | 0 |
Total Equity Investment | 36 | 96.1% |
Net Cash | 3.9% | |
Total Portfolio | 36 | 100.0% |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.