News and Views
- Being bought in 2006, TSE‘s current trade system faces some defects and is going to be replaced by a new one. As officials have said, there are some options, including the purchase of the latest version of the current Atos Euronext system from France, using new systems or domestically designed systems or even a large system like Nasdaq are on the tables; after the removal of sanctions, the final decision will be made.
- In its latest report, the International Monetary Fund has estimated Iran’s economic growth rate for the current year to be 0.8%. It is so while in its previous report released 5 months ago, this fund had estimated that Iran would experience a 0.6% growth rate. This change has occurred as a result of modification in Iran’s inflation rate as 15.1% instead of 16.5%.
- Arak Machinery Mfg. Company released its unaudited financial reports for the FY ending September 22, 2015. The company made USD 79.97 mn from sales which led to USD 13.77 mn operating profit. The addition of other revenues and the subtraction of tax and financial expenses resulted in USD 0.01 EPS which shows a 69% loss compared to the same period last year.
- Tourism Bank released its unaudited Q3 reports for the FY ending September 22, 2015. This bank managed to make USD 257.21 mn from its joint income. The subtraction of depositors’ interest as USD 382.12 mn and all the expenses as well as the addition of other revenues as USD 209.64 mn led to the recognition of USD 0.001 EPS, showing an 18% loss compared to the same period last year.
- It has been heard that Sobhan Darou Pharmaceutical Company and Bahman Leasing Company have plans to raise their capitals by 67% relying on their claims due.
- It has been heard that the decision on gas feed prices will be eventually made by President Rouhani.
- Shisheh and Gas Company has plans to raise its product price and therefore, adjust its future reports.
- National Iranian Copper Industries Company seems to still suffer from bad conditions and negative adjustments.
- It has been heard that Shiraz Oil Refining Company might positively adjust its EPS due to the rise in oil price and foreign currency rate.
In the Market
Rather than being negative, the situation in the market is now more influenced by investors’ expectations. In fact, market practitioners are optimistic about the future of the economy and the capital market after the implementation of the JCPOA; however, due to the ambiguities over the effects of implementing such a deal, they seem to postpone their purchases until the atmosphere becomes clearer. In addition, experts believe that if the capital market is going to start its bullish trend from late November as sanctions are lifted, signs of improvement must gradually appear and institutional and individual investors should stop waiting for that change and make it happen. Having been said, at the end of today’s trading session, most sectors experienced a price growth.
In the Chemical sector, most tickers experienced positive trades. The reason has said to be the rather satisfactory Q2 reports; in fact, it seems that after the lifting of sanctions not only more money will enter this industry, but also the transportation and insurance fee costs will reduce to a great extent. Being traded for more than 20 million shares at the end of today’s trading session, Polyacryl Company faced a 1-million buy queue; this trend was started after the company announced its capital raise plan. Parsian Oil and Gas Development Company also faced a buy queue despite no special reason. However, Shazand Petrochemical Company and Tamin Petroleum and Petrochemical Company were negatively traded.
In the Pharmaceutical sector, most tickers, including Aburaihan Pharmaceutical Company and Rouzsarou Pharmaceutical Company faced a price hike; symbols such as Dr. Abidi Pharmaceutical Laboratory also faced a buy queue for which the news on medicine price growth has been mentioned as a reason. Besides, there is news on the probability of producing some special drugs in the country and the entrance of major global pharmaceutical companies to this field after the lifting of sanctions which have had its own impact on this sector.
And in the Oil Products sector, a low-volume trend was seen. Bandar Abbas Oil Refining Company announced that due to ambiguities over buy/sell prices of the products, it cannot present its Q2 reports; such a situation can be extended to all similar companies. Experts advise investors to wait until their financial reports are released.
TSE at a Glance
Summary of Trades
Trading Halts and Reopenings
IFB at a Glance
DISCLAIMER: This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice.
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