Fixed Incomes to inject cash!
- Evidence indicates that fixed income funds can inject up to USD1bn of liquidity to the market. Holding about 96% of total funds (licensed) value, they worth more than USD21bn. Almost Three-fifths (60%) of fixed income funds are permitted to dedicate a part of their investments to equities up to a designated threshold. That leaves 21 funds with net worth of near USD14bn. Taking “10% limit for equities” rule into account, there should be a capital of USD 141mn in the market, yet that is not the case for now. Stats show a figure of 50% less. The giant pile of liquidity, if directed perfectly, can cause a boom in the market.
“TLIZ1” went public!
- 10% (7mn shares) of “Taliseh” Livestock Co. offered to public for the first time on IFB at IRR 5,300 per share on today’s affair. The company forecasted IRR 828 EPS for the coming year, left a 6.4 P/E ratio behind. “TLIZ1” outperformed and realized 29% of EPS (IRR 242) in 2016/17 Q1. “Taliseh” has a registered capital equal to IRR 70 bn and is active in Agriculture and Related Services sector.
In the Market
TEDPIX Ended lower on doubts about market strength!
The stock market ended today’s session near the flat lines, on a similar note to yesterday, as doubts around market potency is dominant amid the patrons. The main index meandered after an early high and fell for 0.02%, stood on 78,205.00. Trend were followed by free float and price indices as well.
Giants in oil products managed to shrug off the weaker-than expected global oil price reports, focusing on better-than-expected earnings of Q1. More than 6 mn shares of Bandar Abbas Oil Refinery traded on today’s session, stamped 47.67 positive points on TSE and closed at IRR 5,214 (+2.82%). Tehran. Tabriz and Lavan Oil Refineries followed the spike also.
Trades over Auto sector settled in the middle of today’s range. On one hand, 65 mn traded shares of Saipa made the closing price IRR 1,234 (+2.92%) and on the other, IKCO lost around 1.5%. After the approval of capital raising, “Rena” investment reopened, most of trades were near the flat lines.
The heavyweight metals sector displayed relative weakness as expected, in a late respond to decline in global prices. National Copper Industries lost 1.26% on closing (IRR 1,730) followed by almost all of the other big players of industry. The current rates estimate the likelihood of an even worse drop in universal prices.
The conglomerates finished the session lower, returning to negative territory for the year, as all the names traded in red. Near 2 mn shares of Omid Investment changed hands made the closing at IRR 1,616 (-1.82%). Ghadir lost 0.2% on the price as well losing some the earlier gains. There were no clear catalyst behind the move except the fact of profit realization.
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