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Official: MSC’s returns more than quadrupled compared with market average
 
Mobarakeh Steel Company’s Chief Financial Officer Amir Hossein Naderi has said that returns of Mobarakeh Steel Company (MSC) have increased more than four times compared with market average, adding, “Following a hike in Mobarakeh Steel Company’s profitability in the year to March 20, 2018, its shares sold well on the stock market. Each MSC share climbed to 2,877 rials by March 20, 2018, posting 104 percent growth in returns over its registered price in mid-March 2017. In light of the fact that as much as 100 rials is dedicated to each share, MSC stockholders’ overall returns added up to 111 percent. This comes as the Stock Exchange posted 25 percent growth in returns.”
 
His remarks came as an 11th edition of Iran’s International Exhibition of Exchange, Bank and Insurance (FINEX 2018) was underway. Naderi also explained MSC’s achievements in terms of stock exchange and capital market in the year to March 20, 2018 and its objectives this year, and shed more light on the company’s projects, its production and sales outlook as well as its profitability in the current year. 
 
Last year MSC’s profits hit an all-time high and hovered above five trillion tomans thanks in part to the company’s inauguration of expansion projects such as Saba Steel Complex and Sangan Pelletizing Plant, as well as a rise in the production of coils and slabs, he said.  
 
MSC’s shares ranked first among listed companies on the stock exchange last year, with the average daily value of publicly traded shares standing at 61 billion rials, he added. “The fact that the company’s stock symbol remained open for 234 working days shows that MSC’s corporate shares which are like liquidable assets can be traded easily and with no restriction.”
 
He further said Tehran Stock Exchange’s TEPIX (Tehran Price Index) is one of the key indicators of the Iranian economy, and added, “Last year TEPIX rose to 96,289 units from the previous 77,485 units, posting 24 percent growth. As one of the most effective companies publicly traded on the stock exchange, MSC who owns 3,140 units (out of a total of 18,804) largely contributed to TEPIX growth.”
 
It should be noted that Mobarakeh Steel Group – including Mobarakeh Steel Company, Hormozgan Steel Company, Fajr Sepahan Galvanizing Company, Tuka Steel Investment Company and Mobin Sarmayeh Brokerage Company – participated in the FINEX 2018. Some prominent figures of the capital market such as Director of the Securities and Exchange Organization of Iran (SEO) Dr. Shapour Mohammadi, and head of the SEO’s Department of Supervising Financial Institutions Dr. Amiri paid a visit to Mobarakeh Steel Group’s pavilion to get a firsthand account of the group’s performance.
 
Mobarakeh Steel Company together with as many as 390 domestic and foreign companies active in different sectors such as stock exchange brokerage companies, investment companies, insurance companies and stock exchange institutions took part in the 11th edition of the International Exhibition of Exchange, Bank and Insurance (FINEX 2018) which was held in Tehran (April 16-19).
 


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