- An establishment and operation license has been issued for the hundred and fiftieth fund in the market, Behshar Development Group fund, as a market maker. The funds which are dedicated to market making are not allowed to buy any other shares out of the subject of their activity. The main goals of lunching these kinds of funds are increasing the liquidity and smoothing the trades.
- Today the 180 M shares of Tabas Parvadeh Coal Co. were initially offered on IFB and priced at 4,500 IRR. The company had predicted 711 IRR EPS for FY2014 (ending 20 Mar 2015) which was covered 73% in first 9 months. The company is expected to adjust its FY2014 EPS to 900 IRR positively. The company has forecasted 585 IRR EPS in its FY2015 budget. Due to not receiving its claims from Esfahan Steel Co. on time, the company needs to use loans for buying raw material. Hence, the financial cost has increased for next year. In current year the company has no exports but an export cost has been considered in next year budget.
- Saderat Bank forecasted 161 IRR EPS for FY2015. The company’s EPS has been increased by 15% compared with current year. The company had forecasted 151 IRR EPS for FY2014 earlier which declined to 140 IRR in its latest report. The company also reported 180 IRR return per share due to its Ghadir investment stake sales.” Income from investments” and “receivable implicit interest” is explained as the major company’s income in FY2014. The acceptable report and increasing hope in Iran’s nuclear talks have boosted the share price to 798 IRR level during the past two days. If the resistance at 7900 IRR is able to be broken, reaching the 840 IRR level is expected.
- Esfahan Steel Co. reported 86 IRR earning per share for FY2015. The company also adjusted the current year EPS negatively by 78 percent to 65 IRR. The company could cover only 44% of its first forecasted EPS for FY2014.The market recession and sales reduction are the main reasons for this adjustment. However, the company has increased its next year forecasted sale by 22.6 percent compared with current year which seems unlikely if the market downturn remains.
- In response to the needs of foreign investors, Agah Brokerage Firm has commenced its English website which will cover all the updated news and reports related to the Iranian capital market. For more details on our services please visit agahgroup.com.
TSE at Glance
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Trading Halts & Delays
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By getting closer to the end of March deadline, more hope rises on reaching a nuclear deal. Following the yesterday satisfying volume trades, the index increased today by almost 0.5 percent. Only 3 trading days are left in current year and today was the last chance to liquid the portfolios. Attentions to banking and automotive sectors have been increased owing to the aroused hopes and emotions in the market. Additionally, despite the global trend, the dollars depreciation still continues. The existing enthusiastic may not be influenced by this matter, yet the dollar depreciation may affect the market. More than 50 % of total market cap belongs to the petrochemical companies which are considered as the main exporters. The dollar depreciation will decline their next year return for sure.
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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