Search Share Prices
India Capital's strong investment performance creates gains of £43m
Investment firm India Capital Growth Fund generated £43m of net investment gains in its first full trading year since its successful premium listing on the Main Market of the London Stock Exchange in January 2018.
India Capital's net asset value rose 42.3% to 127.05p thanks to positive attributions from Ramkrishna Forgings, up 204%, and Sobha Developers, Dewan Housing and Balkrishna Industries, all up more than 100% year-on-year.
The fund's average daily trading value as a percentage of market capitalisation continued to be "well ahead of direct competitors", at the same time as the company reduced its share price discount 8% at the year-end following increased marketing efforts.
India Capital's share price increased by 59% during 2017 and its portfolio turned over 13% during the year.
Earnings per share expanded from 19.04p to 37.73p.
Elisabeth Scott, chairman of India Capital, said, "2017 has been another year of excellent returns for equity investors in India, and I am happy to say that this was also the case for your Company. Looking ahead to 2018, eight States go to the electoral polls and the outcome of each are expected to influence market sentiment, particularly as India's General Election approaches. We can expect increased political uncertainty as a consequence, nevertheless, the portfolio is well placed to weather this."
As of 0920 GMT, shares had collected 0.91% to 914.22p.