India Capital Growth Share Discussion Threads

[davemac3] 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?

[bigboyblue] 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.

[thamestrader] 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.

[bigboyblue] 13/3/2024 09:40

Just did at 162.36; couldn't believe it!

[davemac3] 13/3/2024 09:37

Anybody buying this dip?

[thamestrader] 12/3/2024 15:36

still at a very slight premium to NAV, but watch this space.

EDIT ....and it just disappeared.

[johndoe23] 12/3/2024 12:12

Buying opp approaching

[melloteam] 27/2/2024 10:52

FREE EVENT - India Capital Growth Fund presenting on Mello Webinar today at 1pm

FREE Investment Trusts and Funds Event, Tuesday 27th February, at 1pm.
Register for FREE here:

Programme
1:00pm Keynote presentation from Edmund Shing
1:30pm Company presentation from Ocean Dial and the India Capital Growth Fund
2:00pm Company presentation from River and Mercantile UK Micro Cap
2:30pm Andrew Latto presents ‘Fundsmith – Thirteen Years On’

[martincc] 09/2/2024 14:13

Agree, think this has such a good record the norm may now be to pay around nav or a premium.
If that's correct, buy price more reasonable at the moment, 183.80 trades are buys, near to nav 182.87p

[bigboyblue] 31/1/2024 12:37

Well, I was wrong about the discount widening after the redemption date; the share price has gone from strength to strength and is now at a premium to the NAV. I see they are now selling shares held in treasury to satisfy demand, whereas a few months ago they were buying their own shares. I can only put it down to market confidence in IGC's investments and in India generally.

[bigboyblue] 19/12/2023 09:21

IGC used to have a discount of around 20% or even more. That was before they introduced the policy of offering to redeem shares at a specified discount, on a biannual basis. That discount was 6% in 2021 and 3% this year. I'd expect the discount to widen slightly after this year's cut off date (29th Dec) but it will gradually narrow again toward the next redemption date.
Further, if you check out the NAV progress of JII and IGC over pretty much any period you choose you will soon see which has the better record.

[arja] 18/12/2023 13:22

IGc has about an 8% discount to NAV and JII has an 18% discount . Surely JII must be a better bet but I might be wrong :)

[strollingmolby] 08/12/2023 18:26

Great interview with the manager of the India Capital Growth fund, Gaurav Narain, of River Global, and Paul Hill of Vox Markets.

[arja] 14/9/2023 09:30

IGC chart shows that still in uptrend although consolidating in recent days but virtually a NOR situation. I only like to trade stocks or keep for a short while if NO SD stocks like this one. Not keen on a very small discount to NAV which could be dangerous if Indian indices turn down sharply as discount might then widen

[bigboyblue] 10/9/2023 15:42

It's worth checking out the two best known alternatives to IGC, JP Morgan India Investment trust and Abrdn New India. Neither has seen any increase in NAV or share price over the last 12 months. Ocean Dial seem to be doing a tremendous job here and the share price will be underpinned by the redemption facility at least for the next 3 months.

[investingdad] 27/8/2023 20:08

I do. I think given the demographics of India and the fact it has been keeping all political options open lately. Including reducing border tensions with China. I feel cheap labour here will be of use for companies wanting to move parts of their operations as seen already with the likes of Apple.It is always difficult to know what the short term market looks like, this has been below 100p at the outbreak of war (when in reality India benefitted from cheaper oil) and from covid. So there is always an event and people seem to sell off quickly, however longer term it is a hold for me.

[swiss paul] 27/8/2023 17:01

Do you think there is still value in this share

[investingdad] 23/8/2023 21:00

Very resistant to any falls in the market which is a dramatic change from the earlier days I invested here. Flows into India are going to stay consistent with current market conditions. And the -3 percent buy back will help things stay steady.

[arja] 23/8/2023 20:43

lovely uptrending chart albeit moves very slowly :)

[swiss paul] 16/8/2023 20:26

Seems to be doing well

[cgequityinvest] 30/12/2022 10:49

V quiet board - my last post was wrong -the buy back at a 3% discount is end of 2023.

[cgequityinvest] 31/10/2022 17:03

Pretty quiet board here!!

I picked up a few more of these last week when the discount was circa 15/16% on the basis that we were not far away from the end of the year when there is a mechanism to buy back shares at a I understand a 3% discount.
Interestingly the discount has narrowed over the last few days. India has been one of the few markets which has not seen a massive downturn this year - the S&P 100 Mumbai Index is up 3%!