– On the verge of general assemblies season, Tehran Stock Exchange covered ankle deep in dividend payments. Most of the listed companies held their GAs with best news available on new earnings and EPS coverage ratios. Almost every giant of each sector release new financials with great improvements on their per share earnings and imposed heavy adjustments to their forecasts. Below there is a list of most important DPS announcement of the day:
Just days after the Central Bank announcement obliging all listed and non-listed banks and financial institutions to present their financial statements with regards to IFRS standards, today the deputy exchanges supervision, Hossein Amiri, drew the outlines for all issuers on Tehran Stock Exchange. The new statements are to be out with an eye on IFRS standards no longer than 6 months after the release of their locally audited ones for the current fiscal year. International financials shall be audited and in Persian. Publishing the English IFRS statements are optional for Tehran Stock Exchange issuers. It is worth mentioning that the decision making criterion on annual general meetings would be based on local financial statements.
– Tehran Stock Exchange is once again safe after a series of cyber attacks by ISIL linked hack group named DZ. The attack aimed 200 Iranian hosts and websites including a couple of mutual funds and brokerage firms. “The most harm was for companies using a same server for their website operations” said Roul Allah Dehghan, the head Information Technology department of Tehran Stock Exchange. He assured all the market participants that the danger is now lifted and all the attacked websites are now under maintenance to be soon back on track.
– In a performance report on global exchanges, Tehran Stock Exchange could left 12 other rivals behind and placed 4th recording a return of 2.9%. After Turkey, Hong Kong-Germany and India-Paris, Tehran Stock Exchange stood above NYSE and S&P500. Factoring the most green days on global markets, TSE placed first with most positive sessions since the new year until today.
– In an attempt to make Tehran Stock Exchange more favorable to global taste, it seems that a new classification of market sectors are now on the regulator’s high priority list. Having more than 35 diverse industries on the TSE, the market is considered as one of the most scattered in the world. The new ICB based classification is to retire the old familiar ISIC standard and new indices are going to born with regards to new changes.
According to the latest reports by the Securities and Exchange organization, the total market cap of Tehran Stock Exchange and Iran Fara Bourse issuers break the cap of USD 88 bn over the April-May of 2017. The average P/E ratio of the market is now hovers around 6.96. The top 10 companies with highest market cap are:
– “Iran Capital Markets are to be soon revolutionized by algorithmic trading schemes” Said Tehran Stock Exchange deputy manager, Ahmad Araghchi. Securities & Exchange Organization puts it’s back to develop new trading methods matching what is considered to be world class standards. Acquiring all the required licenses along with establishing proper IT grounds, Tehran Stock Exchange will welcome all the participants whom can be of any aid to this process. It seems that Iranian Markets shall be pushed over to promote financial knowledge of modeling after all meeting the fundamental needs of algo trades.
– In the keynote speech of the first International Financing opportunities conference held the other day at Espinas Hotel, the CEO of TSE company, Mohammad Baqer Qalibaf, stated that the number of foreign trading codes on Tehran Stock Exchange now reached to 800 of which 140 codes are belonging to Institutions and investment funds. According to his speech, 12 memorandums of understanding have been signed so far with foreign exchanges worldwide and the number will increase in the new Persian year.
There was a lot to talk about on today’s session, but the market was not sure what to make of it all, as some stocks slipped out of the gate, yet others raved through new record highs. The TEDPIX settled with a narrow gain (+0.07%) and stood on 77,860.40.
Today’s market was mostly driven by Auto trades. With all the technical charts showing the end of a year long correction, it seems the sector is to jump high and can be considered for short term swings. Named the most traded shares with highest traded value, Saipa (SIPA1, +3.79%) again proved that it has all takes to be a good market leader. Almost 130 mn shares changed hands and left a rough order of 10 mn in the buy queue. It is safe to say that all the sector participant followed the trend as well.
Persian Gulf Petrochemical (PKLJ1, -1.34%, IRR 4,190) navigated a 68.27 point range on the index, closing near the middle amid losses in late hours. Other chemicals showed mixed signals throughout the session some ended in green yet others closed the day in red. The three names advanced between 0.68% and 4.99% on the last trade price were Saina (SYNZ1, +0.68%), Sepehan Tooka Color (TPSZ1, +1.93%) and Paksan (PAKS1, +4.99%) respectively.
Other sectors were mostly traded on a range bound pattern with no vivid direction whatsoever. It seems that with presidential campaigns approaching, the market is to be smooth and green for a while at least until after the election.
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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– The Auto sector secretary to the board, Ahmad Nemat Bakhsh, reiterate that auto production has been raised more than 40% over the past year. “A golden auto sector would eventually result in to better days for at least 50 other industries on Tehran Stock Exchange” Nemat Bakhsh said. Looking over the last year stats show that the part makers are the ones taking a direct hit from prosperity of the mother industry.
– The Fiqh (Jurisprudence) Committee of the Securities and Exchange Organization finally approved the proposed model on issuing Stock Depository Receipts on Tehran Stock Exchange after all the controversies solved. “The DRs as a fund raising solution for major shareholders and a way to increase the free float of a ticker, was under consideration for quite a while” said Reza Kiyani, the R&D director of SEO. The frame work suggests major shareholders to offer a part of equities under their ownership to retail investors whilst keeping the corporates actions power, including selective voting rights, to themselves.
– The latest stats show that the bank debts to the CBI reac
– Forasmuch as Tehran Stock Exchange has an urgent need for fresh liquidity, while ago the SEO tried to meddle, forcing fixed income fund managers to invest a minimum of 5% of the assets in equities. Despite the hope that the news brought, two months past and it is obvious that the investment committees are trashing the idea and refuse to put their money in. Excusing that the new directive shall be in run just after their current active period ended, it seems they are sending the equity obligation on a fool’s errand.