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Author: Alireza Hojjatnia

Home/Articles Posted by Alireza Hojjatnia (Page 13)
hotel-sign

“Homa” chained hotels to go public! – Daily Market News

by Alireza Hojjatniadate: 2 October 2016in News & Reports No Comments

Market News

“Homa” chained hotels to go public!

IRR 1,960 bn worth in capital, “Homa” hotels Group is to offer 10% of the shares on TSE and to be named the first of industry going public. The group is in position of 5 hotels on Tehran, Shiraz, Bandar Abbas and Mashhad with a total sum of 788 rooms. Social Security Organization is the major shareholder and they are only willing to sell 10% on the market.

Maxed out YTM!

According to the trade summaries by IFB, currently there are 18 active debt securities on the market and amid those “NIMIDCO” Musharaka is on the top of return list with a nominal rate of 23%. “Rayan Saipa” placed the second with 22% and quarterly coupon payments. The others will return between 18 to 21% and have monthly coupons.

However, the YTM on this issues has a different story. Istisna Sukuks of NIMIDCO, “SMLQ1”, if held up until the maturity, will yield 25.09 while Mashhad Municipal Musharaka has only 19.22% YTM and placed the last on the list. Sina Daroo will return 21.53% and Kaveh Kish Steel has an YTM of 20.31%.

Fifteen out of eighteen have the yield to maturity of less than 20% based on the current price levels.

The 3rd land & construction investment fund licensed!

“Naroon” land & construction investment fund got listed on TSE, as the third of its kind on Iran’s capital market, to raise IRR 182 bn funds for Arak province “Naroon residential project”. Housing investment Co. is the landlord and Maskan Investment Bank will act the fund manager.

Arak province “Naroon residential project” has 144 units and covers 20,000 m2 of area under construction.


In the Market

The stock market ended a bumpy session on a lower note with two major averages descended 0.25%. The TEDPIX (-0.25%) rallied into the early morning, but selling during the final minutes of the session drove the index down to stand on 77,287.60. Weighted TEDPIX also lost slim (-0.04%) for today, ended on 15,050.00.

 “Saipa” dominated headlines for the third day in a row. More than 250 mn shares of Auto giant changed hands and the ticker closed at IRR 1,358 with almost 74 mn purchase orders in the queue. Iran Khodro on the other hand lost near 1.5% on the closing (IRR 3,168) with a volume of 18 mn. “Zamyad” and “Bahman” followed the trend as well.

 Elsewhere, the top-weighted oil products sector finished in the lower end of the pack, masking relative weakness among the giants. Bandar Abbas and Isfahan Oil refineries were the leaders of downward trend and stamped 31.62 and 23.16 negative points on TEDPIX respectively. Tehran and Lavan oil refineries also lost big on today’s affair, whereas Tabriz and Shiraz refineries compensated for the whole sector. Near 1.6 mn shares of “PNTB1” traded today and the ticker closed at IRR 4,789 (+2.03%).

 On the metals sector, despite the fact that global prices mostly rose, 7.2 mn shares of Isfahan Mubaraka steel traded on -2.26% today and the ticker closed at IRR 1,212 and stamped -50.67 pints on the main index. Almost all other steel makers followed the trend.

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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. 

To contact reporters: inter@agah.com

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impossible-shapes-orig

The Impossible Trinity! – Daily Market News

by Alireza Hojjatniadate: 25 September 2016in News & Reports No Comments

Market News

“The Impossible Trinity!

CBI stats showing that over the recent months, non-tradable inflation bested the tradable (1.4% over 0.9% – growth) and added pressure to the sector due to a raising demand. Also the FX rate stability kept the tradable inflation under control which together will end in more imports unless someone put an end to. The situation is known as “Dutch Disease” among economists which infected Iran’s economy earlier in 2011/12.

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pushpin on map

The 15 Commandments! – Daily Market News

by Alireza Hojjatniadate: 11 September 2016in News & Reports No Comments

Market News

The 15 Commandments!

Yesterday, the new SEO chair addressed the press. After a quick Q&A, Mohammadi described his plan for the capital market thoroughly. Amid the statement he mentioned the scheme to change the deposit cap of fixed income funds in banks which pour the fresh liquidity to TSE & IFB. Mohammadi testifies to prioritize the following in facing the market challenges ahead:

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Tourism Bank Fixed Income Mutual Fund Fact Sheet – September 2016

by Alireza Hojjatniadate: 5 September 2016in FactSheet No Comments

Tourism Bank Fixed Income Mutual Fund Fact Sheet (Sep 2016)

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maxresdefault

Money Market Alarm to go off! – Daily Market News

by Alireza Hojjatniadate: 4 September 2016in News & Reports No Comments

Market News

Money Market Alarm to go off!

Stats shows over the recent months liquidity components has been changed. Term deposits growth rate stood on a two year low in May/Jun 2016, 1.2%, while demand deposits jumped 10% over the same period. This was not just for the spring. Studies reveals since the fall last year, “money/liquidity” ratio grew over “near money/liquidity”. Most likely imperative rates cuts in short intervals is there only to blame. Analysts believe, due to the fact that banks resources might turn to other markets and cause price pressure, this conversion will bring inflationary effects in either long or short terms. Needless to say that a deceleration in term deposits growth rate would make banks weaker on lending.

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Dices cubes to trader. Cubes with the words SELL BUY. Selective

Individuals to sell even more! – Daily Market News

by Alireza Hojjatniadate: 28 August 2016in News & Reports No Comments

Market News

Individuals to sell even more!

TSE performance report card is out comparing key facts of the market with regards to that of the same date previous year. The overall index rose near 5% over the last month, trade volume also has won by a narrow margin. In contrast trading value faced a 9% decline and reached IRR 41,210,000 bn.

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factsheet_banner

AGAH Mutual Fund Fact Sheet – August 2016

by Alireza Hojjatniadate: 28 August 2016in FactSheet No Comments

 Agah Mutual Fund Fact Sheet (Aug 2016)

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Debt Market to play role in banks restructuring!

by Alireza Hojjatniadate: 24 August 2016in Blog, CapitalMarket No Comments

By Mahdi Goodarzi & Alireza Hojjatnia

Debt Market to play role in banks restructuring!

Iran central bank has recently gave birth to a plan reforming the banking sector structure. There is no doubt that it will be the most effective of Rohani’s administration rulings. A reform that if adequately being executed, it would lead to a paved path through economic growth and make the bed for an international re-entry.

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Term-Loan

Banks loaned more than USD3.5bn on the first third! – Daily Market News

by Alireza Hojjatniadate: 17 August 2016in News & Reports No Comments

Market News

Banks loaned more than USD3.5bn on the first third!

  • CBI stats show a 37.8% increase on loans granted in 2016/17 first four months. Facilities paid as working capital had a 67.8% share from the total figure and grew 42.6% contrary to the same period last year.
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stock-photo-capital-injection-usd-372118960

Fixed Incomes to inject cash! – Daily Market News

by Alireza Hojjatniadate: 14 August 2016in News & Reports No Comments

Market News

Fixed Incomes to inject cash!

  • Evidence indicates that fixed income funds can inject up to USD1bn of liquidity to the market. Holding about 96% of total funds (licensed) value, they worth more than USD21bn. Almost Three-fifths (60%) of fixed income funds are permitted to dedicate a part of their investments to equities up to a designated threshold. That leaves 21 funds with net worth of near USD14bn. Taking “10% limit for equities” rule into account, there should be a capital of USD 141mn in the market, yet that is not the case for now. Stats show a figure of 50% less. The giant pile of liquidity, if directed perfectly, can cause a boom in the market.
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