- As the result of the paid visit to Iran by the Italian Economic Development Minister and the 300-member delegation of business men and traders in early August after the primary nuclear agreement between Iran and world powers, an MOU has been recently signed between IRI Shipping Lines Company as Iran’s representative and the Italian Worldwide Shipping Group Fratelli Cosulich as Italy’s representative aiming to set up a joint shipping firm, based on which both parties will establish a joint firm in Italy offering services in selling and marketing fields and providing representative services to the shipping lines of IRISL Group.
- As Iran Khodro Deputy CEO for export has announced, the number of vehicles produced by this company in Iraq has exceeded 10,000, comprising 48 Runna, 48 Samand, 1344 Peugeout 405 and 8304 Peugeout Pars. Saeed Tafazzoli also added that the company has plans to allocate the company’s second production line of Iraq site to Arisan Pickup. At the end, he stated that the Iraq site will produce at least 15,000 vehicles in the second half of the current year, as planned.
- Holding USD 1.66 mn in capital, Pars Ceram Company has predicted to recognize a USD 0.001 EPS for the FY ending 22 September 2016, demonstrating a 400% rise compared to its prediction for the same period last year.
- According to its prediction based on its Q2 financial statements, Iran Khodro Diesel Company had predicted to recognize a USD 0.002 loss per share for the FY ending 19 March 2016. In a recently announced financial statement, the company has predicted to make a USD 0.02 loss per share, the reasons for such a spike have been mentioned to be the 41% decline in sales, operating cost hike plus the investment revenues.
In the Market
Global commodity prices dropped more today. Tickers in the Metals sector were mainly passive watchers. Investors seem not to imagine a bright future for symbols, including National Iranian Copper Industries Company and Esfahan’s Mobarakeh Steel Company; therefore, most tickers were traded in the negative area.
In the Oil Products sector, in line with oil price fall, investors are becoming more risk averse; as a result, most symbols witnessed low-range volatilities. Among symbols in this sector, Esfahan Oil Refining Company enjoys better fundamentals and was institutionally supported today. In addition, Tehran Oil Refining Company plus Shiraz Oil Refining Company also ended in the green.
Finally at the end of today’s trading session, the only sector warmly welcome by investors was the Sugar industry. Investors competed with each other to own two block trades of Qazvin Sugar Company and Chaharmahal Food Products and Sugar Company; in light of the created competitive environment, other symbols in this sector faced buy queues. As has been previously mentioned, this sector is mainly under heavy speculative pressure and no logical reason can be found for symbols being traded positively.
TSE at a Glance
Summary of Trades
TSE Top 10 Stocks
TSE Major Sectors’ Daily Performance
Trading Halts and Reopenings
IFB at a Glance
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