Market News
The 7th International Exhibition and Summit for Presenting Iran’s Investment Opportunities as well as the 2nd Kish International Exhibition and Summit of Exchange, Banking, Insurance and Privatization started today on Kish Island and will continue until 12 November. Known as Kish INVEX, this event is an opportunity for countries and companies to present their ready-to-invest projects and opportunities in fields such as infrastructure, construction, and energy. Besides being a platform, INVEX presents investment opportunities to domestic and foreign companies and familiarizes them to the banking system and the stock exchange. More than 40 companies from countries such as Switzerland, the UK, Germany, France, China and Canada are participating in the event. A side-event worth taking note of if you are on Kish during these days is the conference on “Iran’s Economy in the Post-Sanction Era” scheduled for 10-11 November.
Corporate Earnings
Omid Investment Management Company released its unaudited Q3 reports for the period ending 22 October 2015. The company made USD 26.59 mn from its investment revenues, which resulted in USD 250.92 mn inoperating profit and USD 251.88 mn in net income, after the subtraction of costs and the addition of other revenues, recognizing a USD 0.01 EPS.
Kaveh Paper Company released its unaudited Q2 reports for the FY ending 19 March, 2015. The company made USD 3.11 mn from sales, leading to USD 0.45 mn in gross profit, USD 0.17 mn in operating profit and USD 0.28 mn in net income, recognizing a USD 0.002 EPS.
Sobhan Investment Company released its unaudited financial statements for the FY ending 22 September 2015. The company made USD 7.75 mn from investment and sales, resulting in USD 6.85 mn in operating profit. Finally, USD 7.02 mn net income was made after other revenues and tax costs, recognizing a USD 0.005 EPS.
In the Market
Today, the trading trend was rather flat. The most important news in the market was the granting of automobile purchase provisions. Although the provisions brought about a powerful start for the Automobile sector listed companies, they have so far not met the expectations.. Iran Khodro Company was traded in a positive zone in the early hours of the session. After 8 million shares traded, Pars Khodro Company experienced growth after the news about the French delegation’s trip to Iran on 16 November, which may end in the signing of contracts between Pars Khodro Company and Renault.
The global economic slowdown has resulted in a declining demand, and, therefore, a price plunge in metals throughout the world. In the Metals sector, the Right of Esfahan Mobarakeh Steel Company dropped 5%, despite being warmly welcomed by individual investors. Esfahan Steel Company, however, faced a price hike and ended with a buy queue.
In the Pharmaceutical sector, Rouz Darou Pharmaceutical Company released its financial reports for one month, stating a 45% return over the period; the company seemingly has plans to raise its capital by 100%, 47% of which will be based on retained earnings and 57% of which will rely on investors’ paid-in capital.
In the Banking sector, except for Bank Sina and Kosar Financial and Credit Institution, other symbols ended in the red such that Bank Karafarin ended with a sell queue. Bank Saderat topped the sector in terms of the highest traded volume. In addition, the 100% capital raise plan by Bank Shahr (City Bank) was approved by the Securities and Exchange Organization (SEO).
Finally, despite the sound financial reports in the Chemicals sector, due to the uncertainties regarding gas feed price, investors seem to act cautiously. Tickers in this sector were mostly traded positively; Khorasan Petrochemical Company and Farabi Petrochemical Company faced a buy queue. In addition, despite being negatively traded, Fars Chemical Industries Company also ended with a buy queue.
TSE at a Glance
TSE at a Glance
Summary of Trades
Summary of Trades
Trading Halts and Reopenings
Trading Halts and Reopenings
IFB at a Glance
IFB at a Glance
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: Mojde Rezaee at m.rezaee@agah.com
