1st Jul 2022 11:45
Aberdeen New India Investment Trust PLC - investor in Indian growth companies - For the year ended March 31, net asset value total return 11%, compared to the MSCI India Index, which returns 23%.
As at March 31, net asset value per share increases 11% to 697.30 pence from 627.05p the same date a year prior, driven by a positive performance from Indian equities, particularly cyclical and value stocks, which overshadowed challenging conditions in India, including a health crisis due to Covid-19, and the conflict in Ukraine raising energy and commodity prices.
"Even before Covid-19 reached its borders, India's growth outlook had been muted as the country slowly adapted to new structural reforms. At the moment, I am encouraged by India's ability to bring the pandemic under control and the government's longer term commitment to guide the country towards a USD5 trillion economy, making it an economic powerhouse of the future," says Chair Hasan Askari.
Current stock price: 526.00 pence
12-month change: down 6.9%
By Dayo Laniyan; [email protected]
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