Sadr Tamin Investment Company (TASSICO) registered a 33-percent rise in portfolio value and a 72-percent jump in profits in the financial year to March 7, 2023.<\/p>\n
Mohsen Behzadi, portfolio director of the company, which trades shares in Tehran Stock Exchange under stock ticker symbol TASSICO, described the performance as successful in twelve months to March 7.<\/p>\n
He explained that portfolio value of the company increased from about 470.750 bn rials in the beginning of the financial year to March 7, 2023 to 630.500bn rials at the end (on March 7), showing a 33-percent jump.<\/p>\n
Behzadi told bourse24 that the success could not be achieved without a plan prepared by TASSICO and support of SSIC (Iran’s Social Security Investment Company, also known by its Persian acronym Shasta).<\/p>\n
The \u201cPlan to Support Stocks of Subsidiaries\u201d was formulated in the second half of the last Iranian year (September 23, 2022-March 20, 2023) with an aim to converge and improve the portfolio and take steps to the favor of the shareholders, he added.<\/p>\n
TASSICO\u2019s market value, Behzadi said, was on upward trend within twelve months to March 7, showing an increase of 72 percent, which had been way beyond average annual rise in the stock market, those of the rival companies and profits gained by other subsidiaries of Shasta.<\/p>\n
The main index of Tehran Stock Exchange rose only 31 percent during the same period, he said, adding that the successful performance was a reward to shareholders, who trusted the company and could finally receive maximum dividend payout.<\/p>\n
Meanwhile, Behzadi reported that initial public offering (IPO) of Ceram Ara Industries Co. (a leading firm in providing luxury ceramic products) took place on March 11, 2023 thanks to efforts taken by TASSICO.<\/p>\n
Behzadi said convergence of portfolio, particularly investment in copper and steel industries, was on the agenda of the company in the year to March 19, 2024, adding that the support for the current shares of the basket to enjoy fair price would be strengthened as TASSICO intended to have gold in its basket by one of the subsidiaries\u2019 IPO.<\/p>\n
On financing, the director noted that the capital of the holding would be boosted through lease (Ijarah) bonds offering to tap the market potential as suggested by Amin Investment Bank.<\/p>\n
Given the company\u2019s portfolio and foreign exchange fluctuation, Behzadi hoped the prospect would be bright in the financial year to March 19 thanks to shareholders\u2019 support and formulated programs.<\/p>\n\n\n","protected":false},"excerpt":{"rendered":"
Sadr Tamin Investment Company (TASSICO) registered a 33-percent rise in portfolio value and a 72-percent jump in profits in the financial year to March 7, 2023. Mohsen Behzadi, portfolio director of the company, which trades shares in Tehran Stock Exchange under stock ticker symbol TASSICO, described the performance as successful in twelve months to March […]<\/p>\n","protected":false},"author":6,"featured_media":24618,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-24617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-events"],"acf":[],"yoast_head":"\n