Sending the Go Signal
– As one of the top news breaking has been the signing of a major gas deal between Iran and Total Company, which is expected to pave the way more than ever for the presence of foreign investors and gaining their trust and confidence in the country, in addition to the transfer of the technology, science and managerial experience. This contract, worth $4.8 bn, was signed the other day between the National Iranian Oil Company, Petropars Company, Total Company and China National Petroleum Corporation aimed at developing the phase 11 of Pars-e Jonoubi gas field.
– Iran and Italy are planned to sign a contract to build a high speed rail line in the country to link Qom and Arak, worth 1.2 bn euro, during the current month; it will then be followed by two other deals to hold training courses for the Islamic Republic of Iran Railways’, as the Iranian party involved, personnel.
In its audited financial report, Shirin Khorasan Agro-Industrial Company has made IRR 56 loss per share, posting a 124% rise compared with the same period last year.
In the Market
Following the decision made by the Ministry of Industry, Mine and Trade, automakers are now obliged to use domestically produced tiers. Most names in the Tire & Rubber sector ended above their flat lines, although those like Barez Industrial Group (-1.85%) and Kavir Tire (-1.3%) finished in the red.
The only two tickers in the Telecommunication sector are halted to hold their general meetings; Mobile Telecommunication of Iran entered into a contract with Nokia, aimed at developing infrastructures for 5G networks based on the latest global standards.
The majority of names in the Metals and Iron Ore spaces witnessed positive trades owing to the rise in commodity prices such as zinc and copper. Names like Shahid Bahonar Copper, Arfa’ Metal & Steel as well as Iran Pipe & Machinery in the former and Bafq Mines in the latter went up more than 4%.
The whole Banking sector, but Melal Credit Institute (3.54%), settled with modest losses. Today, the CBI announced the obligation of state-owned banks to publicly release their information starting from 21 March 2018.
The majority of symbols in the Sugar group went through positive trades with Shahroud Sugar and Esfahan Sugar going up more than 4%, closing with buy queues. It was so while Shirin Khorasan Sugar shed the same percentage in its price and finished with a sell queue.
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: Inter@agah.com