- As the minister of economy and financial affairs stated at the National Conference on Bolstering the Business Environment held yesterday, the roadmap for foreign economic cooperation has been developed and the potential investment opportunities in each industry are to be introduced to foreign delegates. Stressing that foreign investment should be allowed to enhance domestic manufacturing, Mr. Tayebnia announced the government’s major goals, including curbing inflation, promoting economic stability and conducting structural reforms aiming to enhance business environment of the country.
- After introducing Islamic Treasury Bills and Estesna Sukuk in the last recent months, Auto Investment Securities (AIS) are also about to be introduced in near future. Being based on Moshareka Islamic contract, such securities are aimed at helping automakers finance their manufacturing.
- Some time ago, the Central Bank of Iran, following short-term expansionary incentive policies, announced that this regulatory body in the monetary market intends to let the bankers reduce legal requirements with the aim of curbing recession and flowing the blood in the contracted veins of the economic artery, which nevertheless, resulted in the interbank interest rate drop to 21.5%. According to a recently published letter, written by the CBI, Bank Iran-Venezuela is bound to keep 10% of its reserves as the legal requirement; Bank Ansar, Post Bank and Bank Sina will enjoy an 11% legal requirement while Bank Mellat, Bank Saderat, Bank Ayandeh, Bank Karafarin, Bank Eqtesad Novin, Bank Saman, Bank Melli and Bank Sepah are all required to maintain 12% of their reserves with CBI.
- Holding $5.54 mn in capital, the Offset Company has managed to make a $0.01 EPS for the FY ended at 22 September 2015, demonstrating 16% rise compared to the EPS made in the same period last year.
- In its first estimation for the FY ending 20 December 2016, Mine and Industry Leasing Company has predicted to recognize a $0.006 EPS, which shows 3% increase compared to the same period last year.
- Owning $30.19 mn in capital, Sharq Cement Company has recognized a $0.002 loss per share for the FY ended at 22 September 2015, recording 210% decline compared to the same period the year before.
In the Market
At the end of today’s trading session, low volume trades were seen in the Insurance and Civil Pension Fund sector. Kosar Insurance Company along with Mellat Insurance Company was traded by institutional shareholders. In fact, this sector enjoys less risk in terms of commodities’ price volatility in global markets. Besides, the lifting of sanctions followed by foreign insurance companies’ attending the country will contribute to the improvement of domestic companies’ conditions.
Better conditions were seen in the Transportation sector today. This sector is directly influenced by the sanctions removal. Tuka Transportation Company was demanded by institutional investors and ended with a light buy queue. Other symbols, including Tidewater Middle East Company and Petrochemical Transportation Company were also traded in the positive area.
Trades in the Banking sector witnessed significant improvement. Bank Ansar and Post Bank faced buy queues. In fact, the lifting of sanctions and SWIFT re-opening along with the provision granting capacity after legal requirement ratio reduction can improve symbols in this sector.
Finally, the only ticker in the Agriculture sector, i.e. Magsal Animal Husbandry and Agriculture Company faced a buy queue after announcing its capital raise plan. According to the proposal made by its board of directors, the 1,430% capital raise will be based on shareholders’ paid-in capital, claims due and the retained earnings.
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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