India Capital Growth Fund Limited Update research from QuotedData
May 26 2020 - 1:59AM
RNS Non-Regulatory
TIDMIGC
India Capital Growth Fund Limited
26 May 2020
India Capital Growth - Update research from QuotedData
26(th) May 2020
Needs more time
India Capital Growth's (IGC's) board is asking investors to back
a continuation vote scheduled for 12 June 2020 and it is important
that shareholders make their vote count. COVID-19 has depressed
valuations to levels not seen since the financial crisis. The
managers see substantial upside when market confidence returns and
are asking for more time to deliver that. The board believes
shareholders should support the continuation of the company. This
reflects their confidence in the measures taken to turn performance
around, which we discuss in this note. When small and mid-cap
valuations return to trading at long-term average valuations, IGC's
share price could improve meaningfully.
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END
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