News and Views
With the aim of exchanging trade and technical experiences between domestic and foreign investors, the First International Seminar on Introducing Economic Development and Investment Opportunities of Tehran begins today. The president of Organization for Investment, Economic and Technical Assistance of Iran, Mr. Mohamad Khazaee, among other economic officials and practitioners as well as representatives from 24 different countries, including Germany, Britain and France will attend this seminar. As has been announced, 40 major projects will be introduced in this 2-day seminar in order to attract investment, both domestic and foreign, in different economic fields in Tehran.
- Iran Khodro Company has provided the Securities and Exchange Organization of Iran with the requirements and documents for its 27.5% capital raise from USD 270.50 mn to USD 4,311.07 mn, relying on its investors’ paid-in capital.
- In its Q1 financial reports, Eqtesad Novin Bank had estimated to recognize a USD 0.01 EPS of which a USD 0.001 was covered in the first half of the current fiscal year; as a result, this bank has negatively adjusted its EPS by 35%, estimating to make a USD 0.007.
- Holding USD 8.45 mn in capital, Damavand Mineral Waters Company has estimated to recognize a USD 0.009 EPS for the FY ending 19 March 2016; the company has been able to cover 30% of this amount while it had covered 212% of its previous year’s estimated EPS the same period last year.
- Possessing USD 169.06 mn in capital, Tourism Bank had estimated to make a USD 0.005 EPS for the FY ending 21 December 2015; in its latest announcement, the company has negatively adjusted this amount by 39.7%. The bank has also made clarifications on the origin of its recognized return which has been mentioned to be as the result of selling its fixed assets in Tehran worth USD 205.38 mn.
In the Market
In the Automotive sector, tickers were negatively traded at the beginning of today’s trading session. After the announcement of its capital raise plan, Iran Khodro Company faced a buy queue, after 25 million shares were traded; this resulted in other symbols’ rather upward movement at the end of the session. However, experts believe that this sector is more tended towards price plunge, rather than price hike.
Officials and company owners in the Sugar sector announced that there was no rational behind investors’ rush and interest in buying this sector’s shares, resulting in some symbols facing sell queues. Investors are advised not to hold their shares in this sector for a long time.
In the Chemicals sector, the selling price of products such as methanol declined in Asian markets; this can prolong the current slowdown to January which might lessen hopes over domestic companies’ sound financial reports. Tickers such as Kharg Petrochemical Company which have experienced selling price plunge will face more difficulty in case of the 13-cent gas feed price approval. At the end of today’s trading session, Symbols such as Tamin Petroleum and Petrochemical Company were positively traded and the Polyacryl Company topped the sector; however, investors seem to be taking huge risks because the probability of this share facing correction appears to be greater than that of its growth.
Finally, tickers in the Oil Products sector witnessed a positive trading session. Their Q2 financial reports, which do not seem to be sound, have not been released yet and symbols might be halted in the near future.
TSE at a Glance[caption id="attachment_5140" align="aligncenter" width="818"] TSE at a Glance[/caption]
Summary of Trades[caption id="attachment_5141" align="aligncenter" width="917"] Summary of Trades[/caption]
TSE Top 10 Stocks[caption id="attachment_5142" align="aligncenter" width="1160"] TSE Top 10 Stocks[/caption]
TSE Major Sectors’ Daily Performance[caption id="attachment_5143" align="aligncenter" width="597"] TSE Major Sectors’ Daily Performance[/caption]
Trading Halts and Reopenings[caption id="attachment_5144" align="aligncenter" width="852"] Trading Halts and Reopenings[/caption]
IFB at a Glance[caption id="attachment_5145" align="aligncenter" width="810"] IFB at a Glance[/caption]
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: Mojde Rezaee at email@example.com