A year into JCPoA!
– After a year from the JCPoA in an interview, the CBI governor stated that this deal has paved the grounds and created the opportunity for foreign companies to resume their cooperation with Iranian banks and institutions and given it enough time, hard work and negotiations, Iran and Iran’s Economy can again play an active role in the international scene.
– One year after the JCPOA was signed, Iran seems to be on the path of rejoining the world. The country witnessed developments of which the agreements to modernize Iran’s fleet and railway system can be named. The list of such improvements goes on by foreign law firms’ interest in opening branches and the increasing number of enquiries from clients who are looking for ways to do business with the country.
– As its CEO has stated, Iran Fara Bourse has managed to absorb $125 mn in foreign investment, mostly from Germany and east Asia, within a year after the JCPOA was struck, being split between the debt and stock markets.
– In its new attempt, the CBI reduced the number of reforms for banks in order to help them finalize their annual financial statements in line with the newly set standards within the defined time frame, i.e. by the end of the current year, 20 March 2017; such standards are aimed at boosting banks’ operations transparency, improving their capital adequacy and controlling risk inherent in this industry.
In the Market
Names in the Oil Products industry started in the green although in low volumes; they eventually went through balanced trades; while Oil Industry Investment (+2.69%) and Shiraz Oil Refining (+2.62%) closed in the green, Lavan Oil Refining (-1.74%) and Pasargad Oil (-2.67%) ended beneath their flat lines.
Following the trend started since the other day in the Other Financial Intermediaries group, Rayan Saipa Leasing and Bahman Leasing faced buy queues. Besides, leasing companies are now announced to be exempt from VAT; other tickers like Qadir Khodro Leasing (+2.04%) and Mine and Industry Leasing (+0.77%) finished in the green.
All tickers, but the Right of Housing Investment (-6.67%), in the Construction space closed in the green zone with Abadgaran-e Iran Tourist and Welfare facing abuy queue. Besides, higher demands were seen in the Cement industry such that Soufian Cement and Tehran Cement closed with buy queues.
According to the news released today, Iran Arqam in the Computer industry has won the tendor to buy 346 ATM from Bank Tejarat, which pushed this share to face a buy queue; Afra net and its Right also closed with buy queues.
The majority of names in the Food and Beverage space were positively traded, of which Pakdis Company has still kept its buy queue, benefiting its shareholders with 32% return.
Among symbols in the Iron Ore group, Bafq Mines finally faced a sell queue; the share has benefited its investors within the last 2 months with more than 150% return.
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