East Azarbayejan Pegah Dairy Went Public on Iran Fara Bourse!
– Today 10% of East Azarbayejan Pegah Dairy (GHPZ1) went public on Iran Fara Bourse through book building as the 9th IPO of current Persian year (2017/18). The ticker priced at IRR 3,355 and each individual and institutional trading code got 155 shares. The company foretasted an EPS of IRR 332 for the coming period, make its P/E ratio near 10 which still is double of its peer group.
– “The paris brach of Iran Bank Melli is now connected to Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET2) , the European interbank payment network” said Gholamreza Panahi, a board member of Melli Bank. Target 2 comprises European Central Bank and central banks of EU member countries through which European banks can transfer money to each other instantaneously.
Tehran Stock Exchange Continued the Strike!
In the Market
Tehran Stock Exchange main index advanced (TEDPIX) 195.81 points (+0.23%) to end today’s affair at 85,590.70. This the third consecutive days for the benchmark to get deep in green as investors showed their indifference to US president speech. Although the trading value and volume are still far below their prosperous days, yet the trades trend send signals of strong fundamental drives for both Tehran Stock Exchange and Iran Fara Bourse.
Metal sector was the guardian angle again with its giant Isfahan Mubaraka Steel (FOLD1, IRR 2,040, +1.90) which stamped solely 71.40 positive points on the index. on the flip side, Iran Aluminum Company (ALIR1, IRR 1,691, -4.46%) ended the day with almost a million sale orders in the queue.
Iran Fara Bourse main index, IFEX, remained literally unchanged after an early hour jump. Steel makers of the index made unbalanced moves today with Hormozgan Steel (FOHZ1, IRR 2,120, +2.96%) and MIDCO (KHMZ1, IRR 1,840, -0.16%) played at both ends of spectrum.
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