• Air force commanders and staff met the chief commander, the supreme leader, Ayatollah Ali Khamenei this morning in the Imam Khomeini masque. The headline of the leader speech was around the nuclear negotiation. He said that “I agree with the potential agreement while I do not agree with the bad one”. He also noted and approved the USA keep saying that “not reaching an agreement is better than a bad agreement”. He also confirmed the president Rouhani’s statement in which he mentioned the negation means both two parties reach a common point and one party cannot reach all his/her expectations. Ayatollah Khamenei also pointed that ” our representatives are trying to take the sanction weapon from our enemies, if they come to reach this end, it will be better, but if they couldn’t they must be aware that there are other ways in the country which will slow down this weapon”.

• North West Housing Investment Company has entered to a new project. According to the company’s report, it has engaged in constructing the Ardebil Furniture Shopping Mall and the company share will be 78 percent of the total sale. Based on first calculations, the cost of this project is 608,220 IRR mn and the sale revenue will be 810,283 IRR mn. The next year’s budgets and returns will be influenced by this project but it must be noted that this project has no effect on current financial year ending 22 Sep 2015.  In the past few weeks the share price could pass the 3060 resistance and reach 3700 IRR levels. If it could pass this level, the 4000-4200 levels would be the next target. At current situations, the 3000 level is considered the main support level and also the maximum loss limit.

• Arfa Iron & Steel Co. could cover 95 percent of its last forecasted return in the first 9 months of current financial year ending Mar 2015. With 1,994,865 IRR mn Capital, the company adjusted its EPS from 530 to 516 IRR. Based on this report the company is negotiating with the Bank of Industry & Mine for reaching an agreement on debt interest rate repayment. Due to initial agreements the interest rate partnership is reported LIBOR plus 2 % and the repayment rate is indicated 7 percent. The amount and value of sale and also the costs are expected to increase compared to the previous year due to lack of steel ingot production in the first 4 months of the previous financial year and according to the timing operation. In the 9 months report the sale revenue and the margin return have 84% and 120% increase respectively compared with same period last year. Despite the good fundamental situation in this company, new buying is not recommended due to general negative atmosphere that shadows the whole marker and specially the metal sectors.

• Import tariff on tires will be increased in next Persian year (started from 21 March 2015). Abbas Abbasi Abyaneh, the president of Tire Manufactures Association announced that the import tariff on tires will be improved from 12% to 20 % next year according to excessive imports and the accumulative inventories. He added producers requested at least 35% tariff and we also imply the same rate. He also mentioned that the governments should review the standards quality as well. During the past 3 months the Iranian tire manufactures have had a problem in sale and their last two months productions have been amassed in their inventories.

• In the first 9 months of financial year ending 20 March 2015, the return of Grdeshgari bank decreased compared to same period last year. According to 3Q report, the bank joint income moved up by 88% compared to same period last year. While, the total revenue boosted by only 27%. Despite the 16 percent decrease in costs, the net income fell almost 51 percent compared to same period last year. In the first 9 months of the previous year the bank could make 213 IRR EPS with 4000 IRR bn capital, which is equal to 142 IRR by considering the current 6000 IRR  bn capital. In the same period this year the bank could make only 69 IRR EPS with 6000 IRR bn Capital.

 

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TSE at Glance 

 

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IFB* at Glance

*Iran Fara Bourse is a regulated market for smaller industrial companies

 

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Trading Halts & Delays

 

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Trading Reopenings

 

 

 

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Codal* Release

*www.codal.ir is a comprehensive database of all listed companies regulated by SEO

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 Market Overview

As it was expected the sale pressure increased today. Although most of the shares are along their real value, new buying is not recommended before the next nuclear deadline and especially in current week before the upcoming national holiday in Iran. While, holding the current portfolio could be safe. The political risk is currently at high levels. It should be noted that no significant budget reports from companies are expected for the next year. During the past few days the retail trades volume has increased which could be the outcome of the purchases of investors who are hopeful about the result of nuclear negotiations and the investors who take the opportunities on positive trends to sale.

 

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 the reporters: Negar Moshirfatemi at fatemi@agahmail.com

 

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