Issuers pays cUSD 5,767.4 mn dividends on Tehran Stock Exchange!
Market News
– From the beginning of the current Iranian year (March 21st, 2017) to date, Tehran Stock Exchange and Iran Fara Bourse issuers paid a figure of IRR 248,000 bn (cUSD 5.77 bn) in cash dividends to their investors which made the DPS average equal to IRR 267. Moreover, the net profit (loss) of the Iranian listed companies reached IRR 476,917 bn on November 2017 showing IRR 17,272 bn (Ave. IRR 355 per share) raise contrary to the previous month.
– Tabarok industrial group, a company active on FMCG sector got listed on Iran Fara Bourse market under the ticker of TIGZ1 to be initially offered to public anytime soon. The company’s listed capital is IRR 500 bn and now its market cap hovers around IRR 2,231 bn. Tabarok is mostly active in production and packaging of agricultural products.
– Iran and Republic of Azerbaijan, inked an agreement to establish a joint venture on Auto sector. It seems the mutually invested company is now incorporated with 75% share for Azerbaijani partner and 25% for Iran Khodro (IKCO1). The joint venture has the capacity to produce 10,000 vehicle per year and they are to introduce 5 new models to the market anytime soon.
Investors still cautions; Market still fragile!
In the Market
Stocks ended a range bound day with slim gains as investors are still cautions towards the whole market. TEDPIX (+0.03) started the day strong yet was not able to hold its ground in the final hours. IFEX ended the day a tick below its yesterday’s flat-line. Both markets showed relative low traded value and volume while mild political tensions are fading away.
Parsian Oil and Gas (PASN1, +1.23, IRR 2,474) stamped the most positive point on the major index (+30.37) and traded for almost 4 mn shares in positive range. Other tickers of the Chemicals (+0.27) showed range bound trades which made the segment trading volume the 4th on the most active sectors list.
The day for the heavy weighted Metal sector (+0.16) started great. However, though the ending bell giants like Isfahan Steel Co. (FOLD1, -0.27, IRR 2,956) lost its touch and mostly traded in red. A block of 260 mn shares also traded on IRR 2,964 as whole for FOLD1.
All together, the market needs a calm environment for the trades to be more alive and considering the fact that no fundamental factor changed till today, analysts believes in the coming week everything will get back on track.
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 reporters: Inter@agah.com
