The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.
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SMALL-CAP - WINNERS
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India Capital Growth Fund Ltd, up 3.0% at 187.5 pence, 12-month range 145.5p-193p. The investment firm, which mainly backs mid and small-cap companies based in India, announces buyback of 23,000 shares at 182p each, for a total of £41,860. Total share capital attached to voting rights now comprises 86.0 million shares. Previously on Tuesday, the company announced an estimated net asset value of 206.41 pence per share, continuing to rise from 199.81p on June 30 and from 180.11p at December 31.
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SMALL-CAP - LOSERS
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HydrogenOne Capital Growth PLC, down 0.1% at 37.65p, 12-month range 35.10p-64.00p. The investment fund, which specialises in clean hydrogen companies, said its NAV per share was 100.81p at September 30, the end of its third quarter, down 2.7% from 103.60p on June 30 and down 0.6% from 101.42p one year prior. Its portfolio valuation decreased 2.1% to £129.2 million on-quarter, but rose 3.2% from £125.2 million on-year. The portfolio’s fair value gain on cost decreased 11% on-quarter but increased 34% annually to £19.5 million. Finally, HydrogrenOne’s cash balance totalled £3.6 million at September 30, more than doubled since June 30 but still 45% lower than the £6.5 million it reported in 2023.
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Asos PLC, down 1.5% at 346.2p, 12-month range 333.4p-446p. The fast fashion retail’s most recent announcement has Chief Financial Officer Dave Murray buying 5,800 shares at 345.95p each for around £20,167 in total. Also on Wednesday, Goldman Sachs cut its price target to 360p and maintained its ’sell’ rating, while Deutsche Bank Research cut the price target to 450p but maintained its ’buy’ recommendation. Changes follow the news on Tuesday that Asos’ annual pretax loss had widened to £379.3 million in the year to September 1, as revenue fell by 18% to £2.91 billion, although the gross margin mostly held steady at 40.0%.
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