News and Views
- Shomal-e Qarb Land and Construction Investment Fund was registered by the Department of Companies and Non-Commercial institutions Registration in Tehran on No. 11371 in June 17, 2015 aiming to implement the policies of the 44th principle of the constitution. The mentioned fund is certified to act as a financial institution and an investment fund according to its approved articles of association.
- One week after the JCPOA implementation, a Memorandum of Understanding was signed between TSE and South Korea’s Stock Market. The mentioned MOU involves many innovative plans to increase bilateral activities and relations. Referring to the population diversity and the economic potentials of the country, Dr. Fetanat announced that the elaboration of Korea’s economic improvement policies, partnership in technical, engineering and IT infrastructures associated with the capital market as well as holding joint training courses would be of the plans followed in this agreement.
- Answering a question on whether the speculators are in control of the stock market or not, an authority in the Department of Supervision on Financial Institutions replied He explained that under the current conditions where the market is suffering from recession, their activity will keep the market alive. He added that if all market players and traders adopted a long-term viewpoint, the market would never grow and no trade would be carried out.
- IRI Shipping Lines Company released its unaudited Q2 financial statements for the FY ending June 20, 2106. The company managed to make USD 2.87 mn from sales, which shows 65% increase compared to the same period last year. The subtraction of SGA costs and tax plus the addition of other revenues, USD 3.12 mn net loss was made, leading to USD 0.00020 loss per share.
- Farabi Pharmaceutical Company released its Q2 financial reports for the period ending September 22, 2015. The company made USD 28.86 mn from sales, leading to USD 10.51 mn operating profit, after SG&A costs. The subtraction of non-operating costs led to USD 3.27 mn net income, leading to USD 0.010 EPS.
- Mellat Investment Company released its Q3 financial reports for the period ending September 22, 2015. The company made USD 0.58 mn from investment and their sales, leading to USD 0.32 mn operating profit. The subtraction of financial costs and the addition of other incomes resulted in USD 0.12 mn net income, recognizing USD 0.00014 EPS.
- It has been heard that Qadir Khodro Leasing Company’s plans to raise capitals have been denied.
- The news on selling some of Asia Insurance Company’s fixed assets in the second half of the current year has been verified.
- Alborz Bulk Pharmaceutical Company is planning to raise its capital by 27% relying on investors’ paid-in capitals.
- Tejarat Bank is intended to establish foreign branched in Persian Gulf nations.
- Sina Bank has plans to sell some part of its assets which might result in its EPS positive adjustment.
In the Market
The stock market is influenced by companies’ Q2 reports released these days. Most such reports have been unsatisfactory; for instance, they have been negatively adjusted in the Automotive sector and lacked proper EPS coverage in the Banking sector. However, the prospect of sanctions relief and economic growth package might probably lead to better Q3 reports.
In the Automotive sector, most major symbols such as Iran Khodro and Pars Khodro were halted due to heavy losses announced, which led to the observance of many sell queues.
In the Banking sector, a negative trend was witnessed. As was said, financial reports were not satisfactory. According to them, many banks have faced losses in their joint incomes; this means that the act of receiving deposit from depositors and lending them to the loan receivers has ended in loss. Besides, their questionable claims are also raising concerns. Mellat Bank was about to have a sell queue and Saderat Bank share price declined to USD 0.002 after 43 million shares were traded. Experts believe that this negative trend will extend to tomorrow’s trading session.
The Oil Products sector has remained ambiguous and it appears that their financial statements will not be released so soon. In line with the market momentum, this sector, including Bandar Abbas Oil Refining Company and Tehran Oil Refining Company ended with sell queues.
The Chemical sector witnessed low-volume trades. Although their Q2 financial reports were appropriate, the gas feed price increase still worries investors. After two bullish trading sessions, Parsian Oil and Gas Development Company faced a sell queue; and Tamin Petroleum and Petrochemical Company was traded in its -2% area.
TSE at a Glance[caption id="attachment_4945" align="aligncenter" width="822"] TSE at a Glance[/caption]
Summary of Trades[caption id="attachment_4946" align="aligncenter" width="1017"] Summary of Trades[/caption]
Trading Halts and ReopeningsTrading Halts and Reopenings[/caption]
IFB at a Glance[caption id="attachment_4949" align="aligncenter" width="773"] IFB at a Glance[/caption]
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