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MCB Group Makes History: 1st Company to Rs 100bn Capitalisation



MCB Group Makes History: 1st Company to Rs 100bn Capitalisation

The MCB Group, a leading financial institution in the region, has achieved a significant milestone by becoming the first company to reach a market capitalization of Rs 100 billion.

The group’s market capitalization stood at Rs 101.12 billion as of May 15, with a share price of Rs 399.50 at the close of trading.

The group’s recent financial results have contributed significantly to this achievement. For the nine months ending December 31, the MCB Group reported a 14.2% increase in net profits, rising from Rs 10.9 billion to Rs 12.4 billion.

The group’s total annual return since its listing in 1989 has been an impressive 19.8%.

Since its initial public offering (IPO) in 1989, the MCB Group’s market capitalization has grown from Rs 488.6 million to its current level of Rs 101.12 billion.

This represents a compound annual growth rate of over 19% over the past three decades.

SEMTRI Index Reaches Record High

The SEMTRI index, which tracks the performance of the Stock Exchange of Mauritius (SEM), also reached a record high of 9,505.9 points on May 15.

The index closed at 2,206.40 points and has recorded a growth of 8.3% since the start of 2024.

The SEMTRI’s performance has been driven by strong quarterly results from companies such as MCB Group Limited, SBM Holdings Ltd, CIEL Limited, and Phoenix Beverages Ltd.

Source: Defi Media

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