Market News

– Today 10% of Saman Kish E-payment co. shares went public on Tehran Stock Exchange through book building method. The price range was from IRR 6,200 to 6,500 per share and each trading code could only place an order for 5000 shares (ultimately each code received only 1,787 shares). Ultimately price at IRR 6,500, the company record a P/E ratio of 6.2 with a TTM P/E of 7.0 (the sector benchmark rate stands at 8.60). Below pie chart shows the market share of Saman Kish contrary to its other rivals in the industry. 

Source: boursepress.ir

– Following the FX rate unification earlier this year, the speaker of mines and industries commission announced that during the first two months of 1397 (2018/19) near USD 6 bn worth of dollars at 42,000 has been allocated to Iranian producers through Nima exchange Platform. Recently there were concerns on whether the administration is sound enough to meet the FX requirement of Iranian industries.

Starting June with a Bang!

In the Market

The month of May might have ended with a whimper, but the month of June started with a bang. Driven by GA meetings season and better than the expected companies performance the major indices put together a winning session that was punctuated by leadership from economically-sensitive sectors.

Leading the advance, was the heavy weighted metals sector (+0.68%). Mostly thanks to its mega-cap giant, Isfahan Mubaraka Steel (FOLD, +0.94%) that solely recorded 57.71 positive points on the index, and the dazzling production stats of its components, the industry ended the day id good green

Following in its footsteps were the Cement (+1.14%), Tiles and Ceramics (+1.23%), and Sugar (+1.76%) sectors. Recent developments in housing sector finally triggered the construction-related sectors. The bulk of today’s gains for mentioned sectors were logged within the first hour of trading.

The Oil Products sector (-0.55%) for its part kept its head below water because of the oil prices ($65.83, -$1.14, -1.7%) fell sharply in a technically-driven sell-off.

Finally, Banking sector (-0.38%) was also weak today after the other day’s thunderstorm caused by Mellat Bank. Despite the better than expected performance of the industry’s blue-chips, the lack of trust amid market participants made the day bad for mid-weighted sector.

Source:

2018, SEPK1 went public on Tehran Stock Exchange!, Sunday, June 03, p.1,<https://agahgroup.com>