- Referring to the government spokesman, $5.2 bn has entered the country in the form of foreign investment since the JCPOA struck while Iran has also become able to export 2.56 mn barrels of oil and gas condensations during the same period.
- As a large-scale construction program began in 2007 by the previous administration, Mehr Housing Project is now in its final steps and the current government is determined to finish the remaining 2,200 houses by February 2017 in addition to the 800,000 units constructed in the past 3 years.
- A deal worth $1 bn has been inked between Iran’s Tasdid Offshore Development Company and Russian Krasnye Barrikady Shipyard over building offshore drilling rigs which will be employed in oil and gas exploration projects in Persian Gulf. Based on details, the rigs will be built in Khoramshahr (south of Iran) within 2 years and 85% of works will be executed by the foreign party.
- According to officials, an MoU has been signed with a Russian company to build a 1400 MW power plant in Bandar Abbas while another has been inked with South Korean companies on building power houses in Zanjan and Qom, in addition to the MoUs signed with Siemens regarding the transfer of know-how to boost the efficiency.
- Covering 35% of its estimated EPS in the Q1 of its current FY, Atie Data Processing (E-Pardaz), in Information and Communication sector, could benefit its shareholders with more than 100% return after its recent IPO on IFB. The company operates in designing and producing cell-phone related software the most important of which is Chabok system for sending mass messages. Stating the fact that the company is not in need of huge liquidity and is mainly dependent on up to date technology, the company official referred to the negotiations with foreign investors and expressed hope over covering the whole project EPS of a $0.01.
- 69 mn shares of Silica Sand Mfg. (Kemase) will be offered through Bank Eqtesad Novin on behalf of an individual shareholder for the third time on September, 11. The share price of such a 43% block trade has set to be a 0.06$ while it had been a $0.04 and a $0.07 in the previous two times.
In the Market
At the end of today’s trading session, the Automotive sector ended in the red, albeit less selling pressure was observed. Irrespective of the 0.44% decline in Siapa Group (Khesapa) and only 0.25% rise in Iran Khodro (Khodro) final prices, Saipa Azin (Khazin) went up 2%. Spare part mfg. tickers went through more positive conditions and some faced buy queues. Iran Tractor Forging (Khahen) kept its buy queue, too.
Names, but Bandar Abbas Oil Refining (Shebandar) and Iran Oil (Iranol), in the Oil Products group also ended below their flat lines. However, relying on the note released the other day, that the crude oil to be delivered to oil refining companies will be priced based on its API which will result in lower prices for those companies that use and process heavy crude oil, many expected to see positive movements in the sector.
Despite symbols in the Iron Ore group which went through negative trades, tickers in the Metals industry enjoyed better conditions and trades. Khuzestan Steel (Fakhooz), Middle East Mining Industries (Midco) and Hormozgan-e Jonoub Steel (Hormoz) ended in the green and Zangan Zinc Industry (Zangan) faced a buy queue.
Parsian Rail Transportation (Heparsa), Rail Pardaz-e Seir (Herail) and Sina Port and Maritime Services Development (Hesina) in the Transportation industry also ended above their flat lines while others closed in the red.
Maroon Petrochemical (Maroon) in the Chemicals space kept its buy queue until the end of the session; high volume trades were conducted by institutional investors. Iranian Petrochemical Investment (Petrol) and Abadan Petrochemical (Shepetro) faced with buy queues in the middle of the session, too. Others were rather negatively traded.
Most symbols in the Insurance sector went through a fine session. Mellat Insurance (Mellat) faced a buy queue; more than 50% of purchases were done by institutional investors.
Finally, names in the Sugar group started the affair strong; however, only a few, including Qazvin Sugar (Qazvin) and Shirvan, Qouchan and Bojnourd Sugar (Qashir) remained in the green area.
TSE at a Glance
Summary of Trades
Top 10 Stocks
Major Sectors’ Daily Performance
Trading Halts and Reopenings
IFB at a Glance
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