News and Views
- A deputy industry minister announced that 40,000 people have applied for car loans at the end of the third day of the pre-defined loan scheme. As a part of the government’s economic growth package, the loan covers 80% of vehicles’ price up to USD 7100 to be paid in 4 years. Selling automobiles on installments can mobilize the demand level and reduce the pressure on the manufacturing companies. In fact, such plans might also lead to proper results for other sectors grappling with the recession.
- After the meeting held between banks’ CEOs on deposit interest rate cut, the decision on the subject has been relegated to the Money and Credit Council, as stated by the government Spokesman. Pointing out to the current inflation rate and the necessity of the harmony between this rate and the deposit rate, he mentioned that such cuts seem inevitable.
- A top executive in Lufthansa Technik has announced on 8 November that the company is open to set up a facility in Iran after the lifting of sanctions. Referring to the need of Iran’s aging aviation industry to repair and overhaul, Johannes Bussmann stated that in case of the Iranian’s government agreement and request, they are ready to join as a partner.
- Stressing that relationships between the United States of America and Iran have not yet returned to normal, President Obama announced the continuance of the Executive Order 12170 irrespective of the recent progress made after the July 14th
- The Civil Pension Investment Fund Company released its audited Q2 financials for the period ending 19 March 2015. The company managed to make USD 183.92 mn from sales, resulting USD 183.10 mn in gross profit and USD 190.81 mn in operating profit after costs. This amount led to 190.81 mn in net income after the tax and the non-operating revenues, recognizing a USD 0.01 EPS.
- Bojnourd Cement Company released its audited Q2 reports for the period ending 22 September 2015. The company made USD 16.22 mn from sales, leading to USD 1.81 mn in gross profit after the COGS. The subtraction of SGA costs and tax plus the non-operating revenues ended in USD 0.82 mn in operating profit and USD 0.48 mn in net income, recognizing a USD 0.001 EPS.
In the Market
At the end of the current trading week, TSE continued its slow upward movement. The stock market mistrust in the economic stimulus package and the unhealthy situation of listed companies have resulted in share price falls and low trade value and volume. The meeting by the Monetary and Credit Council the other night on the interest rate decline did not yield the expected results; this might be the reason to the rather negative trades in the Banking sector.
Due to its negative beta coefficient, the Sugar sector ended in the green, unlike most other sectors; some tickers also faced buy queues.
The tickers in the Metals sector ended in the red. Changes in the managerial board of Esfahan Steel Company has created the rumor of the company’s capital raise being postponed which has eventually resulted in its shares being traded in the -4% zone; albeit although the company’s capital raise is not fundamentally beneficial, the market has proved that it does not always act by fundamentals.
Finally in the Other Financial Intermediaries sector, the recently started negative trend after the granting of automobile loans continued. Experts believe that symbols in this sector are capable of making the EPSs estimated for the current fiscal year; but investing in such companies is not suggested for those who have a long-term investment viewpoint since they might not be able to repeat the current ones.
TSE at a Glance
Summary of Trades
Trading Halts and Reopenings
IFB at a Glance
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