News and Views
The Securities and Exchange High Council finally agreed to the establishment of the currency exchange, announcing that plans and schedules will be formulated and presented in the upcoming weeks. Referring to the last meeting of this council held on Tuesday, also hosting the Minister of Economy and Finance and CEO of the SEO, one of the members of this council mentioned that issues such as foreign exchange rate unification, lifting of limitations over transferring currency and exchange offices’ organization are required as the pre-requisites of such an exchange establishment. As this member continues, this exchange plays an active role in foreign investment risk management via its offered derivatives. He also stated that this issue is of significant importance for the preparation of Iran’s financial and monetary markets in the post-sanctions era since it contributes to the control of untransparent currency markets.
- Owning USD 6.88 mn in capital, Iran Carbon Company has predicted to recognize a USD 0.01 EPS for the FY ending 19 March 2016, demonstrating 9% rise compared to the previous year. The company has managed to cover 49% of this amount over the first half of the year, while it has covered only 12% of its estimations the same period last year.
- Holding USD 1.38 mn in capital, Iran Fiber Company has predicted to recognize a USD 0.01 loss per share for the FY ending 19 March2016, which shows no difference compared to the estimations made the previous year. The company has covered 77% of this estimation over the first half of the year, while it had covered 49% of its estimations the same period last year.
- Sabet Khorasan Sugar Company has predicted to recognize a USD 0.002 loss per share for the FY ending 21 July 2016, which shows 9% rise, compared to its previous predictions. Holding USD 14.03 mn in capital, the company covered 26% of this amount over the first quarter while it had covered 7% of its prediction the same period last year.
In the Market
As the result of oil and metal price drop on one side and the political risk increase influenced by the conflicts between Russia and Turkey along the North Korea’s threatening Turkey on the other, investors seem to be more reluctant towards investing. At the end of today’s trading session, Kosar Insurance Company in the Insurance and Civil Pension Fund sector faced a price hike after news on its capital raise plan was released. Ma Insurance Company witnessed the most price plunge; releasing its Q2 reports, this company has managed to cover 48% of its predicted EPS and also has plans to raise its capital.
In the Transportation sector, Persian Gulf International Transportation Company faced a price hike while its price does not match its estimated EPS, mainly due to speculative pressures.
In the Banking sector, also, low-volume trades are observed. Rumor has it that Post Bank is about to raise its capital. Bank Qavamin will also hold its extraordinary general meeting on December 6th to decide on its capital raise plan.
Finally, as the result of speculative pressure on the Sugar sector, tickers in this sector faced buy queues, irrespective of their unhealthy fundamentals. In fact, this sector was the only one whose symbols all ended in the green.
TSE at a Glance[caption id="attachment_5260" align="aligncenter" width="905"] TSE at a Glance[/caption]
Summary of Trades[caption id="attachment_5261" align="aligncenter" width="918"] Summary of Trades[/caption]
TSE Top 10 Stocks[caption id="attachment_5262" align="aligncenter" width="1165"] TSE Top 10 Stocks[/caption]
TSE Major Sectors’ Daily Performance[caption id="attachment_5263" align="aligncenter" width="609"] TSE Major Sectors’ Daily Performance[/caption]
Trading Halts and Reopenings[caption id="attachment_5264" align="aligncenter" width="854"] Trading Halts and Reopenings[/caption]
IFB at a Glance[caption id="attachment_5265" align="aligncenter" width="805"] IFB at a Glance[/caption]
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