TEHRAN, Iran, Dec. 7
Head of Iran Securities and Exchange Organization (SEO) Majid Eshghi has announced that the organization is focusing on strengthening the Capital Market Stabilization Fund through legal sources, including the National Development Fund, Trend reports citing Tasnim News Agency.
The statistics published on the TSE (Tehran Stock Exchange) website and a system named "CODAL", shows that the number of TSE-listed companies has increased since the beginning of the current Iranian year (started on March 21), comparing to the same period last year, Eshghi said.
He also noted that a number of steel and petrochemical companies listed on TSE experienced significant growth.
Despite COVID-19 and electricity blackouts in summer, the companies had their profits, he said, expressing hope that the upward trend will continue until the end of the year.
According to reports, the National Development Fund of Iran seeks to deposit $150 million with the Capital Market Stabilization Fund to help boost the ailing stock market.