Iran Stock Exchange releases the brokerages ranking!
– Agah Group placed 2nd on the ranking chart of SEO (Securities & Exchange Organization of Iran) in terms of retails and whole trades value for Azar month (Nov-Dec 2017) with a total market share of 5.53%.
– Today new issues of Islamic Treasuries got listed on Iran Fara Bourse. The new securities worth cUSD 1,149.7 mn and will be publicly offered in three different maturities (14, 24 and 25 months). Considering the current status of Iranian Debt Market, it is expected for these new issues to be priced in a range that make the TYMs around 12-15%. Officials hope that lowering the burrowing rate ends eventually in a decline in banking sector lending rates (in less than a month) otherwise the cost of capital would be still sky high in Iran’s economy.
The below table demonstrates the latest status of outstanding ITB securities:
– The Statistical Center of Iran announced the goods and services Consumer Price Index for a 12-month period ending Azar month (December 21st) to grow by 8% in comparison with similar period last year, resulting in a 0.2% rise in the inflation rate compared with the month before. In addition, urban and rural inflation rates stood at 7.8% and 9.2%, registering a 0.2% and 0.3% monthly growth.
– In line with the recent directive by the Iranian National Tax Administration, tax authorities have to inspect bank accounts whose annual turnover surpass IRR 50 bn in terms of being compliant with anti-money laundering framework; the bank accounts limit had been first announced to be IRR 5 bn.
– The Minister of Industry, Mining and Trade announced the attraction of $2bn worth of foreign investment by 37 Small to Medium-Sized Enterprises over the first quarter of the 12th administration. The Minister mentioned the growth in Iran’s foreign investment near 64% relying on international statistics for 2016.
In the Market
As the result of attempts and negotiations, the Iraqi officials agreed to reduce the sky high 40% import tariffs for Iranian dairy products to 10%; according to the statistics, Iran provide for 20% of Iraq’s $600 mn import market. Moreover, dairy products prices are about to grow. Names in the Food & Beverages group went through balanced trades.
The Transportation space nearly ended in the red, although its leader, i.e. Rail Seir-e-Kosar (RSKZ1, +1.64%) saw a buy queue in its final trades. Regarding the purchase agreement for 400 wagons, Asia Seir-e Aras (ASAZ1, -1.07%) announced that they have substituted that agreement with contracts with domestic suppliers mostly due to high risk lied in Forex fluctuations and added that purchasing such wagons will not exert any effect on the company’s estimates for the current FY.
A positive sentiment dominated the Metals space, led by Esfahan’s Mobarake Steel (FOLD1, +2.62%). Zarin Ma’dan Asia (KZIZ1, +4.86%) and Hormozgan-e Jonoub Steel (FOHZ1, +1.27%) finished with buy queues. Calsimine Company (KSIM1, halted) has announced the IRR 3.750 bn sales over the 9-month since the beginning of the current Persian year, enabling the 100% coverage of its budget forecasts; it was so while it had covered 67% of its estimates in the same period last year. Similar positive movements were seen in the Iron Ore group, led by Saba Noor Mineral & Industrial (KNRZ1, +4.49%).
Like the previous session, nearly the entire Oil Products space ended above their flat lines. In its Q3 report, Sepahan Oil (SEPP1) has announced the realization of IRR 12.8 bn covering 81% of its budget; it had realized 64% of its estimates in the same period last year.
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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