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IGC India Capital Growth Fund Limited

159.50
-2.00 (-1.24%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
India Capital Growth Fund Limited LSE:IGC London Ordinary Share GB00B0P8RJ60 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.00 -1.24% 159.50 159.00 161.00 166.00 159.50 164.00 288,982 16:35:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Unit Inv Tr, Closed-end Mgmt 4.55M 3.77M 0.0432 37.27 140.75M
India Capital Growth Fund Limited is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker IGC. The last closing price for India Capital Growth was 161.50p. Over the last year, India Capital Growth shares have traded in a share price range of 116.00p to 192.00p.

India Capital Growth currently has 87,424,156 shares in issue. The market capitalisation of India Capital Growth is £140.75 million. India Capital Growth has a price to earnings ratio (PE ratio) of 37.27.

India Capital Growth Share Discussion Threads

Showing 251 to 268 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
21/3/2024
17:01
i was fortunate to make an initial purchase at 145 having been watching from 180+. Happy to hold on to these and it goes to show why a decent watchlist can offer some rare opportunities.
pyemckay
21/3/2024
15:46
Rarely does the market present such no-brainers as my Tuesday purchase at 144p!
buoycat
20/3/2024
11:16
That's one view I guess, but definitely don't agree with it. They are investing in IGC and maximising returns, nothing wrong with that.How many companys do you hold that are buying back their own shares?, and in most cases ignoring what the actual value and internal rate of return is.IGC obviously feel that they are going to get a much greater return by buying their own shares than investing elsewhere.
disc0dave46
20/3/2024
09:57
Disagree share price 224. Anyone listening to Gaurav Narain speak - as I did live and virtually - would hear his passion for India and understand some of the drivers behing the growth in Indian companies that ICG are invested.

And actually you would have done well to follow the company's treasury transactions. Selling at a premium to NAV a month ago when the share price was in the 180s. Now starting to buy at a 10%+ discount with the share price in the 140's.

melody9999
19/3/2024
22:46
I presume they just sell shares in the companies that they invest in, sufficient to cover the buyback. In the recent buyback they make a gain of 3%
bigboyblue
19/3/2024
21:48
I'm not sure how they fund the buyback
buoycat
19/3/2024
16:02
It's explained somewhere in an rns. Every two years the company will guarantee to buy back your shares at a set redemption price. Last time it was 3% below NAV. IGC shares have always tended to trade well below NAV, so as the redemption date approaches the gap closes. Unfortunately after the redemption and with all that trading activity, with weakness in the Indian market, and election uncertainty approaching the price has subsequently quickly sagged !
buoycat
19/3/2024
14:26
This may be a silly question but what is redemption and how does it impact the share price. I am not a invested here but thinking about it.
elric3
19/3/2024
13:58
Is redemption only every two years?
loss-leader
19/3/2024
13:19
The company seems to be managing the situation very well. By my reckoning they have sold 6m treasury shares back into the market since the end of Jan. I haven't worked out the exact price, but the average must be around 184p. Now they've started buying again in the 140s.

My own recent purchase at 162p isn't looking too clever right now, but I've always regarded this as an investment for the longer term and bought some more today. If they follow the same timetable as last time, we'll know the discount for the next redemption point in September, with the half year report.

bigboyblue
18/3/2024
10:58
Some fund person selling down
johndoe23
18/3/2024
10:40
I've owned these for many years. I initially bought at 100p but then bought some as low as 24p. They underperformed for many years and have traded substantially below NAV for most of that time, often 15 to 20%. The recent run up to 180+ was a surprise to me and the retrace was expected to be honest. I sold half my holding at 166 but might be tempted to buy some back. 11% below NAV feels about right historically, but the share buy back has been a clever way to support the share price.
buoycat
15/3/2024
16:33
I've added a few more at 151.24p, disc to nav is now -11.58%, year average is -5.53%
nav is slightly up past 2 days too (edit)

martincc
15/3/2024
13:16
Buying opp around 145p maybe
johndoe23
14/3/2024
09:17
Can buy loads way below ask, not usually a great sign
johndoe23
13/3/2024
16:28
why do they keep flogging treasury shares when the buyer can pick them up in the market and probably cheaper?
davemac3
13/3/2024
16:12
A useful article which may explain the sudden drop today. The other looming factor is the forthcoming general election. I'm no expert on Indian politics, but I'm guessing if Modi retains power that will be seen as positive.
bigboyblue
13/3/2024
10:42
Dip will be due to sale of treasury shares and resulting dilution. Let's see what today/tomorrow's NAV estimate is, no doubt it will drop from yesterday's 174p.

Let's hope this dip looks like the last one in oct/nov23, and it bounces right back.

thamestrader
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1

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