Securities & Exchange Organization Iran Oct-Nov. Ranking Announced
* Agah Group by far placed 1st on the ranking chart of SEO (securities & exchange organization of Iran) in terms of trading value for Aban month (Aug-Nov 2017) with a total market share of 7%.
* On the sidelines of the World Forum of Central Securities Depositories in Hong Kong, officials from the Central Securities Depositories of Iran (CSDI) sat with representatives from Euroclear exploring ways of cooperation in areas like custodian account opening, cross border deals settlement along with exchanging experience and knowledge; Euroclear then stated their consideration of legal and technical infrastructure to enter into business with Iran. The Iranian officials also sat with officials from the Central Securities Depositories of Russia, South Koreas and Taiwan as well.
In the Market
Growing more than 1000 points, the TEDPIX surpassed its historical ceiling and stood at 90,469 points, mostly influenced by mega cap names, including National Iranian Copper Industries, Tamin Petroleum & Petrochemical Investment and Bandar Abbas Oil Refining.
Symbols in the Metals space started the week strong following the rise in metals specifically copper prices with National Iranian Copper Industries, Arfa’ Metal & Steel, Zarin Ma’dan Asia and Calsimine hitting their highs.
Esfahan Steel faced a buy queue; a company official announced the export of 750,000 tons of products (50% of production) to 14 countries in the first 8 months of the current year.
Shahid Bahonar Copper (4.97%) is also planning to raise its capital by 25% to reach IRR 1,125 bn mostly based on its retained earnings aimed at compensating for capital expenses and financial restructuring.
In tandem with the growth in global metal prices, Gol-e Gohar Mining & Industrial, Bama and Saba Noor Mineral and Industrial in the Iron Ore group going up more than 4%.
Hopes over the extension of oil production cut agreement, to be made and announced at the OPEC countries meeting at the end of the current month has kept names listed on Oil Products space above their flat lines. Esfahan, Bandar Abbas and Lavan Oil Refining companies all grew by more than 4% with Behran Oil as the only laggard, shedding less than 1%.
Tickers in the Automotive group saw a rise in demand with Bahman Group hitting its high, followed by Saipa and Pars Khodro each going up by 2 and 3%. Spare part mfg. companies like Saze Pouyesh, Charkheshgar and Electric Khodro Sharq gained more than 3% as well.
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.
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