Iran introduces top firms with largest number of shareholders
Baku, Azerbaijan, Jan. 16
By Khalid Kazimov – Trend:
Central Securities Depository of Iran (CSDI) has introduced the country’s top companies with the largest number of shareholders listed in the Islamic Republic’s capital market.
According to the CSDI, Iran Industrial Development Investment Company with 241,114 shareholders was the capital market’s top performer in terms of the largest number of shareholders last December.
Iran Khodro, the country’s leading carmaker, with 150,813 stockholders ranked second.
In the meantime, Iranian Zinc Mines Development Company was the third performer.
Noor Kosar Iranian Investment Company, Oil Industry Investment Company, SAIPA car manufacturing company, Bank Ansar and Behshahr Industrial Development Company were also among the top TSE (Tehran Stock Exchange) listed companies.
According to Firouzeh Brokerage firm, The Tehran Stock Exchange All-Share Index rose almost 29 percent in 2016, boosted largely by growth in automotive companies.
Due to the removal of sanctions following the implementation of the nuclear deal, Iranian car manufacturers reestablished cooperation with European companies, including Peugeot, Citroen and Renault. This resulted in a strong growth of nearly 151 percent for Automotive sector which ended 2016 as the top performing sector on the Tehran Stock Exchange.
The second top performing sector of the year was Metallic Products with 114 percent growth.
Chemicals sector was the worst performer of the year by adding only 3 percent. On the quarterly basis, Automotive had gained 188 percent in the first quarter of 2016 alone, a period which saw gains for all major sectors.
But in the second quarter Automotive lost 14 percent to become the weakest sector, while Non-Metallic Ore became the top gainer with a 22 percent increase.
In the third quarter, expectations of an increase in the regulated price of sugar drove companies in the Sugar sector which became the top gainer with a 40 percent increase, while Metallic Products was the weakest sector with a 14 percent decrease.
The fourth quarter of 2016 saw Metallic Ore climbing to the top of the leader board by adding 23 percent following gains in global commodity prices and a stronger US dollar against the Iranian rial.
Transportation and Logistics was the weakest sector in the final quarter, losing 17 percent.