- The Securities and Exchange Organization of Iran (SEO) has obliged all listed companies, whether on TSE or IFB, to monthly release information on their performance (production and sales data) to the public within 3 business days (at most) after the end of each month through Codal system. Any delay or refusal to publish this information will count as violation. Referring to the similar statistics issued under the titles of “production and sales stats” by manufacturing companies and “portfolio report” by investment companies in the past, the authorities have said that all sectors should now release the pertinent information with respect to their industry.
- In his recent statements, the governor of the Central Bank of Iran (CBI) said that Iran experienced 5.4% economic growth over the Q1 of the current year after 8 seasons of recession and in case this trend continues, the foreign exchange rate is expected to decline. Calling the impacts of monetary and financial policies tangible, Mr. Seif mentioned the stability in economic atmosphere a prerequisite for promoting investment, especially with a long term perspective. Furthermore, he referred to controlling the shock caused by oil price fall as a huge accomplishment for the government and expressed hopes over more facilitation of economic relations between Iranian and foreign banks.
- According to the latest report of Clarkson Research Services, Islamic Republic of Iran Shipping Lines (IRISL), with 92,674 20-foot-equivalent units (TEU), has ranked 19th among the largest owners of container ships in the world, moving up 4 steps.
- The name of Tehran Stock Exchange, with the ticker Bourse, was listed on the main board of TSE’s first market on 15 October 2016; as the 503rd listed company, it has been categorized in the Financial Intermediaries sector.
- The Central Bank of Iran (CBI) has issued the capital raise permission for Bank Qavamin to increase it from $111.32 mn to $222.64 mn.
- Referring to its 7.5 mn ton production in the previous year, an official in Esfahan’s Mobarake Steel announced the 25% (2 mn ton) rise in the company’s production capacityto meet domestic needs.
In the Market
Most names in the Automotive space ended beneath their flat lines. Saipa Group (Khesapa), which also faced a sell queue in the middle of the session, shed 4% and was titled as the highest volume traded share after 92 mn shares changed hands. Zamyad (Khezamya) ended in the -3% area and Iran Khodro Diesel (Khavar) finished in -2% zone. However, symbols like Charkheshgar (Khecharkhesh) and Motorsazan Iran Tractor Mfg. (Khemotor) finished with buy queues.
The majority of tickers in the Metals industry closed in the negative territory. Esfahan Steel (Zob) shed 2% after 9 mn shares traded, leading the space in terms of the highest volume traded. Iran Pipe and Machinery (Faloule) started a descending order which led to a sell queue; it eventually lost 4% after 7 mn shares traded. Alumrad (Famrad) also shed 4% and closed with a sell queue. Iran Alloy Steel (Foolaj), on the other hand, went up 2%.
Higher demands were seen in Rail Pardaz-e Seir (Herail) and Tuka Rail (Turail), in the Transportation industry, which resulted in them facing buy queues. Ganjineye Arman-e Shahr has become in possession of more than 1% of Herail since the previous session, although high sales by individual shareholders continued. Turail has also approached its resistance level and we should wait and see what will happen. Islamic Republic of Iran Shipping Lines (IRISL), which will hold its general meeting on the upcoming Thursday, entered the positive zone after a block trade at the early minutes of the session. Parsian Rail Transportation Development (Heparsa) was also traded in the +0% area. Other names, however, went through balanced to negative trades.
The announcement of the IPO of Asan Pardakht Persian (Ap) moved half symbols in the Computer space towards positive trades among which, Iran Kish Credit Card (Rekish) experienced the highest price growth and became the only name facing a buy queue. But, Kharazmi IT Development (Mafakher) and Iran Data Processing (Madaran) went through rather negative trades.
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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