Performance of Brokerage Companies Enumerated
Brokerage companies handled 4,525 trillion rials ($37 billion) worth of stock market trade during the first eight months of the current fiscal year (March 21, Nov. 21) and 29% of the total was processed by five firms.
According to a report published on the Tehran Stock Exchange website, Mofid Securities Company was the leading brokerage, processing 13% of trade.
It was followed by Agah Brokerage at 7 %, Pasargad Brokerage Company 3.87%, Farabi Brokerage Company 3.24% and Hafez Brokerage Company 2.55%.
Out of 107 brokerage companies in the stock market, 104 processed online trade in eight months.
Online trade worth 2,436 trillion rials ($19 billion), accounted for 53.8% of the total capital market turnover.
Mofid Securities Company topped the online trade list. The firm processed 22.39% of the online trade followed by Agah Brokerage at 11.78%, Farabi Brokerage 5.26 %, Mobin Sarmayeh Brokerage 3.41% and Pasargad Brokerage Company 2.64%.
Financial records of the stock brokers show the brokerage industry earned 6.6 trillion rials ($54 million) in net profit in the last fiscal year that ended in March 2019.
The figure indicates 171% growth compared to a year before. The profit was the highest in five years, according to a report by the Securities and Exchange Brokers Association (SEBA).
Over the past five years total assets of brokerage companies have grown by a massive 316%.
The report also said that the number of loss-making companies fell from 25 in fiscal 2017-18 to eight in the last fiscal year.
source: Financial Tribune
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
India’s record gold import said to be due to calculation error
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Mercuria partners with Zambia on metals trading venture
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
