considering all the runs the other india plays have had (REDF, SIFY, IGC, and to some extent MTE), SMCG is a screaming laggard. I picked some up at $2.05 today, which per latest filings is over a 50% discount to NAV!
The biggest issue that SMCG has is that it's misunderstood -- it's a closed-end fund with a sizeable holding in an Indian financial institution/brokerage.