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Prices · Stocks

Stocks · Analysis

AFRZ Down 36 Percent From Its Peak; Sahmino's Desk Holds a Buy Call at 10,318 Rials (Tuesday, October 6, 2026)

AFRZ's spring-quarter net profit grew 329 percent year on year, yet the stock sits about 36 percent below its August 19 peak and closed Monday, October 5 at its lowest since May 25. Sahmino's desk has held a buy call since that session, targeting 10,318 rials with an 8,405-rial stop; the same signal type has hit its target in 71.4 percent of 305 co...

5 min read · 6 October

Stocks · Analysis

Fakour Sanat Prices Itself at Near 3.8 Times Forecast 2026/27 Profit Ahead of Its Farabourse IPO (Monday, October 5, 2026)

Ahead of its IPO on Iran Fara Bourse's second market, Tehran Fakour Sanat Engineering briefed investors on its valuation report: equity value estimated at 24.8 trillion tomans, per-share value at 3,544 rials, implying a price-to-forecast-profit ratio near 3.8 against its estimated 6.5 trillion-toman net profit for fiscal 1405 (2026/27), a reading t...

5 min read · 5 October

Stocks · Analysis

Kimia Polyester's Trailing Profit Rose 2,856%; Its P/E Still Sits 26.5% Below the Chemicals Sector (Sunday, October 4, 2026)

Kimia Polyester Qom (TSE: Shekimia) grew revenue 99.5% and net profit 2,856% over the twelve months to June 21, 2026. The stock, which began active trading on September 30 after a major shareholder's 9% block sale, closed today, Sunday October 4, with a 570-million-share buy queue and zero sellers. Its P/E of 6.57 sits about 26.5% below the chemica...

7 min read · 4 October

Stocks · Analysis

Simorgh Raised Bulk Egg Prices 12.5% and Tripled Six-Month Profit; Rasad Holds a Buy Call With a 5,699-Rial Target (Sunday, October 4, 2026)

Simorgh's audited six-month statement through June 21, 2026 put net profit at 9,127 billion rials, roughly triple the year-earlier period, as its bulk egg price (85% of last year's sales) rose 12.5% from September 7. Yet the stock's P/E of 10.08 on its October 3 close of 5,110 rials is about 1.5 times the agriculture sector's 6.92 average. Rasad's...

6 min read · 4 October

Stocks · Analysis

South Housing Investment's Nine-Month Profit Rose 743 Percent, but Its P/E Stayed at an Eighth of the Sector's (Sunday, October 4, 2026)

In its nine month interim filing for the period ending June 21, 2026, South Housing Investment (MSJZ) grew net profit 743 percent and operating revenue 718 percent year on year, yet Sahmino's October 4, 2026 board reading puts its P/E at just 3, an eighth of the 24.1 sector average. A September monthly filing shows the growth came from real unit an...

7 min read · 4 October

Stocks · Analysis

Eftekhar Sahm Investment Still Cheap at a P/E of 3.9: Spring Profit Up 93%, Shares Hit a 52-Week High (Saturday, October 3, 2026)

Eftekhar Sahm Investment Co. (EFSP) grew net profit 93% and operating revenue 77% year on year in its spring 1405 quarter. On Saturday, October 3, the stock trades at a P/E of roughly 3.9, ranking among the 15 cheapest of 65 investment-company tickers in a Sahmino screen, after hitting a 52-week high of 2,106 rials on September 30.

6 min read · 3 October

Stocks · Analysis

Vakharazm Grew Annual Profit 75 Percent and Portfolio Dividend Income 71 Percent; Shares Hit a 9,200-Rial One-Year High as Rasad's MACD Signal Targets 10,012 Rials (Saturday, October 3, 2026)

Khazar Investment Group (Vakharazm) grew net profit 75 percent to 66,426 billion rials in the fiscal year ended June 21, 2026, mainly on 71 percent growth in dividend income from its portfolio. Its assembly approved a 400-rial dividend (48% of EPS) on September 27, and the stock hit a 9,200-rial one-year high three sessions later with a buy queue....

6 min read · 3 October

Stocks · Analysis

Tehran's TEDPIX Rallied About 616% in 1398-99 and Gold Jumped 149% in 1403; Rasad Is Watching Four Markets for 1405 (Friday, October 2, 2026)

Tehran's TEDPIX index rose about 616% from mid-September 2019 to mid-August 2020, and 18-karat gold gained about 149% in Iranian year 1403 and about 118% in 1404, per Sahmino's own price archive. Now in 1405, with point-to-point inflation near 89% and the free dollar near 258,500 tomans, the question is which market rallies next, and what Rasad's d...

6 min read · 2 October

Stocks · Analysis

IGCZ Raised Its Capsule Shell Price 79 Percent and Grew First Half Sales 68 Percent; Another 25 Percent Hike Took Effect in October

IGCZ's (Iran Gelatin Capsule) monthly activity report on Codal shows first-half 1405 sales up 68 percent even as unit volume fell 6.4 percent, powered entirely by a 79 percent rise in the per-shell rate. From the first day of Mehr the board raised the rate another 25 percent. At the September 30 close its P/E is 8.9, below the 9.8 sector average; R...

6 min read · 2 October

Stocks · Analysis

Pars Detergent's 9-Month Profit Triples, Price Hiked Again Today; P/E Still 25% Below the Chemicals Sector (Thursday, October 1, 2026)

Pars International Products (BMPS, Tehran ticker شپارس) grew sales 111% and net profit 248% year on year in the nine months to June 21, 2026. Today, October 1, the detergent industry association raised its washing-powder price another 20%, a line that made 96% of last year's revenue. Its trailing P/E still sits at 7.5, about a quarter below the che...

5 min read · 1 October

Stocks · Analysis

Sepa's September Sales Matched Its Whole Spring Quarter in One Month; Spring Profit Rose 10x While Its P/E Stayed Half the Sector's (Wednesday, September 30, 2026)

Sepahan Industrial Group (Sepa, TSE: فسپا) grew its spring-quarter 1405 net profit nearly 10x year on year and operating revenue 95%, yet its P/E on September 30, 2026 was still 7.64, about half the basic-metals sector's 14.32 average. The stock hit a one-year high of 9,290 rials that day on a buy queue. Filed statements and Tehran Stock Exchange d...

5 min read · 1 October

Stocks · Analysis

Daroupakhsh Grew Quarterly Profit 402% and Six-Month Sales 244%; Rasad Holds a Buy Call on It With a 10,003-Rial Target (Wednesday, September 30, 2026)

Daroupakhsh's (DPAK) net profit grew 402% and revenue 222% year on year in spring 1405 (Q1); a fresh monthly filing confirms six-month domestic sales are up 244%. The stock hit a 52-week high of 9,350 rials yesterday and trades at 9,630 rials today, yet its trailing P/E is still just 11.5x. Rasad holds a buy call with a 10,003-rial target and an 8,...

6 min read · 30 September

Stocks · Analysis

Kaperspolis raises product prices 15%, disclosure upgraded to Tier A; Rasad has a buy call targeting 9,520 rials (Tuesday, September 29, 2026)

Yazd Persepolis Tile and Stone Co. (symbol Kaperspolis, Iran Fara Bourse) raised average product prices 15% from October 23, in a disclosure filed Tuesday, September 29, 2026 that was upgraded to Tier A the same day. Sahmino's Rasad desk issued a same-session buy call targeting 9,520 rials with an 8,320 rial stop over a 15-session horizon, while th...

6 min read · 30 September

Stocks · Analysis

Taban Passes Its Guaranteed Floor: Now 21.5% Above the 17,920 Rial Strike on Its Put Option (Tuesday, September 29, 2026)

Taban, Tehran Stock Exchange's largest-ever IPO, closed today, Tuesday September 29, 2026, at 21,780 rials, 21.5% above the 17,920 rial strike of its tradable put "hTaban66." Since its 12,395 rial listing print on August 31, the price return stands at 75.7%, and its September 22 assembly approved a 610 rial dividend; yet its P/E of 24 sits well abo...

5 min read · 29 September

Stocks · Analysis

Kamand's Can-Lid Price Jumps 120.6%; Its Accumulated Losses Still Exceed Registered Capital (Tuesday, September 29, 2026)

Gostaresh Ghatehsazi Kamand (KPMP), whose sole revenue-earning product is a can lid, raised its price from 34,000 to 75,000 rials (up 120.6%). First-half sales of that product already reached 12,741 million rials, more than all of last year's revenue, but the company's accumulated losses hit 412,610 million rials at the end of Khordad 1405, above i...

6 min read · 29 September

Stocks · News

Shekimia1: 1.35 billion shares in one day (Wednesday, September 30, 2026)

On Wednesday, September 30, 2026, 1.35 billion shares of Kimia Polyester Qom (9 percent of 15 billion shares) go on offer on Iran Fara Bourse's second market, three times the Fenoghreh offering. The seller is the major shareholder, so the money does not reach the company. At the 4,310-rial valuation and about 1.72 million codes, each code would get...

9 min read · 28 September

Stocks · Analysis

Iran Aluminium trades at a P/E near 6, under half its group: spring profit rose 7.7x, but monthly sales in Tir and Mordad ran 39% below the spring pace (Sunday, September 27, 2026)

Iran Aluminium (ALIR, Fayra) reported net profit of 74,844 billion rials for the three months to June 21, 2026, 7.7 times the same quarter a year earlier, lifting twelve-month profit to 150 trillion rials. Yet its board P/E at the September 27 close is 6.2, against 13.5 for the basic metals group. Sahmino's calculation shows about half of the five-...

10 min read · 27 September

Stocks · News

Maroon's 183 Percent Bonus Issue Did Not Change the Company's Value, but 13 Sessions of Buy Queues Lifted Its P/E From 5.4 to 7.9 (Saturday, 26 September 2026)

On 29 August 2026 Maroon Petrochemical raised its capital 183%, from 23 to 65 trillion rials, out of retained earnings; after the dividend and bonus adjustments its reference price became 18,950 rials and its value was unchanged. Through 26 September it closed limit-up for 13 straight sessions at 27,730 rials, 46% higher, and its board P/E rose fro...

9 min read · 26 September

Stocks · News

5,880 billion rials behind Fenoghreh: the buy queue on its second trading day, September 23, 2026, was larger than the whole retail tranche of the IPO

Fenoghreh, the first silver bullion producer listed in Iran, closed Wednesday, September 23, 2026 with a 361 million share buy queue at its 16,290 rial ceiling: about 5,881 billion rials, more than the 4,745 billion rials the whole retail tranche of its IPO raised. The discovered price was 15,818 rials and about 1.72 million codes bought, so an ave...

8 min read · 25 September

Stocks · News

Half the Tonnage, Double the Rate: Ghachin's Tomato Paste Record Before Its 33 Percent Price Rise on 24 September 2026

On Thursday, 24 September 2026, Chin Chin Agro-Industrial (Ghachin) told Codal it had raised its base product's price from 2,099,000 to 2,799,000 rials, a 33.3% rise for a product that made up 78% of revenue in the fiscal year to 21 June 2026. Its August monthly report shows that in the first two months of the fiscal year, the average rate per ton...

8 min read · 24 September

Stocks · News

Bama Disclosed a Single Export Shipment Worth 41.83 Percent of Its Entire Prior Year Sales, and the Next Day the Stock Closed at the Floor at 5,060 Rials With a 125 Million Share Sell Queue (Tuesday, 22 September 2026)

On Monday, 21 September 2026, Bama filed a material disclosure with Codal recording the sale of one shipment to a foreign customer for 10,229,137 million rials; the form puts that at 41.83 percent of the company's entire prior year sales revenue. The book cost of the goods sold is 3,633,927 million rials, a 64.5 percent margin on this one deal agai...

9 min read · 22 September

Stocks · Analysis

Sahmino screen of 1,699 TSE symbols finds 50 cheap, profitable stocks; three insurers trade at less than half their sector's P/E (Monday, September 21, 2026)

Sahmino's screen of all 1,699 Tehran bourse and Farabourse symbols found 50 stocks with a P/E under 6, ROE above 20% and real asset turnover. At the top: Asia (P/E 2.01), Parsian (2.04) and Hafari Shomal (2.29). For the first two insurers, that is under half the insurance sector's own 4.34 average on Monday, September 21, 2026. Parsian hit its dail...

6 min read · 21 September

Stocks · News

Fenoghreh IPO: Zob Garan Rangin Falez, Tuesday, September 22, 2026

On Tuesday, September 22, 2026, Zob Garan Rangin Falez (ticker Fenoghreh), Iran's first listed silver-ingot producer, offers 450 million shares (9 percent) on Iran Fara Bourse's second market. The valuation prices each share at 11,827 rials, putting the company at about 59,133 billion rials; the per-code cap in the fixed-price stage is 600 shares,...

7 min read · 20 September

Stocks · Analysis

In Sahmino's Signal Scorecard, Settled Bearish Claims Reached Their Level 15.4% of the Time in a Rising, Low-Volatility Market Against 87.7% for Bullish Ones; the Bearish MACD Cross Was Lowest at 10 Hits Out of 189 (Wednesday, 16 September 2026)

Sahmino files the technical setups it detects across the whole Tehran board every night as "claims", each carrying the level that would prove it wrong. As of 16 September 2026 (25 Shahrivar 1405), in market weather we file as rising and low-volatility, 1,481 of 1,688 settled bullish claims reached their level (87.7%) against just 111 of 721 bearish...

8 min read · 16 September

Stocks · News

Mobarakeh Steel closed at its highest since 18 January 2026 after 103 sessions without a trade, on the day Tehran's index closed red (Monday, 14 September 2026)

FOLD (Mobarakeh Steel of Isfahan) recorded its highest closing price since 18 January 2026 on Monday, 14 September 2026. Between those two dates lie 103 trading sessions in which the symbol did not trade at all: partly the roughly 80-day interruption of the whole exchange, partly the suspension of the symbol itself, which ended on 8 August 2026. It...

9 min read · 14 September

Stocks · News

Sita's AGM voted out 96.58 percent of the profit for the year to 21 May 2026; the share has closed at its 3 percent daily cap in all four sessions since it reopened and ended 13 September in a 28 million share buy queue

Sita's annual general meeting approved a cash dividend of 4,155 rials per share on Sunday 6 September 2026, equal to 96.58 percent of its 4,302 rial earnings per share and 9,141 billion tomans in total. The symbol reopened on 8 September after a three session halt and has closed at the 3 percent daily cap in every session since; on 13 September it...

8 min read · 13 September

Stocks · News

Tehran's TEDPIX Rose 184,041 Points to 6,907,617 on Monday, September 7, 2026; Only 3 of 366 Bourse Symbols Closed Red

The Tehran Stock Exchange's main index (TEDPIX) closed on Monday, September 7, 2026 (16 Shahrivar 1405) at 6,907,617 points, up 184,041 points or 2.74 percent. A Sahmino screen across 366 Tehran bourse equity and rights symbols at that same close shows 362 closed higher and only 3 closed lower, each of the three by less than half a percentage point...

9 min read · 7 September

Stocks · Analysis

DARA Closed at 552,923 Rials on Sunday, September 6, 2026, a Third Below Its Redemption Value and the Widest Such Gap Among Actively Traded Funds

The Financial Intermediation First Fund, traded as DARA on the Tehran Stock Exchange, closed at 552,923 rials per unit on Sunday, September 6, 2026 (15 Shahrivar 1405), down 1.35%, while TEDPIX rose 1.85% to a record 6,723,576 points. Its redemption value was published the same day at 829,476 rials, leaving the board price 276,553 rials, or 33.3%,...

9 min read · 6 September

Stocks · Analysis

Shavan Shares Rose 77.6% Over 22 Straight Sessions While Quarterly Profit Fell 90% (Saturday, September 5, 2026)

Shavan (Lavan Oil Refining) on Iran Fara Bourse has risen 77.6 percent over 22 straight higher closes, from August 1 to today, Saturday, September 5, 2026, reaching a one-year high. Yet the company quarterly statement for the period ended June 21, 2026 shows net profit per share down 90 percent from a year earlier. The rally has been driven mainly...

7 min read · 5 September

Stocks · News

Sports Ministry Fully Exits Esteghlal Football Club's Shareholder Register; Its 3.1% Stake Lands at a Persian Gulf Financial Group as the Stock Hits an Eight-Month High (Wednesday, September 2, 2026)

Iran's Ministry of Sport and Youth completely exited Esteghlal Football Club's shareholder register on September 2, 2026 (11 Shahrivar 1405), according to Tehran Stock Exchange records. The 3.1 percent stake (334,525,650 shares) the Privatization Organization had announced for sale a month earlier landed at Persian Gulf Capital Pioneers Financial G...

8 min read · 4 September

Stocks · News

Kian Financial Group's Stock Is Up 465% in a Year, Hit a 12-Month Record on Saturday; Its 180% Capital Increase Diluted No One

Kiana, the Tehran-listed ticker for Kian Financial Group, closed at 8,110 rials on Monday, August 31, 2026, up 465% from 1,435 rials a year earlier on September 2, 2025. Two days earlier, on Saturday, August 29, the stock closed at a 12-month record of 8,160 rials, two weeks after shareholders approved a 180% capital increase funded entirely from r...

7 min read · 31 August

Stocks · Analysis

Tehran's TEDPIX Jumps 2.03% to a Fresh Record of 6.516 Million Points; This Week's Liquidity Flows From Parallel Markets Into the Bourse (Saturday, August 29, 2026)

Tehran's TEDPIX (main stock index) rose 2.03% (up 129,581 points) on Saturday, August 29, 2026, to a record 6,516,000 points, its sixth straight gaining session, up nearly 7.5% since August 22. Trading value hit about 41.8 trillion tomans and 224 stocks gained more than 2%, as the dollar and gold pulled back this week.

7 min read · 30 August

Stocks · Analysis

Rail Pardaz Novafarin's Stake in Dlip Jumps From 49.5% to 80.9% After a 450% Rights-Stripped Capital Increase (Saturday, August 29, 2026)

Rail Pardaz Novafarin's stake in Tehran Stock Exchange base-market ticker Dlip (Delijan Talaei Shokouh Pars) rose from 49.53% to 80.93% in the exchange's official ownership record dated August 26, 2026, three days after Dlip's 450.5% capital increase, funded entirely from cash with existing shareholders' pre-emptive rights stripped, was formally re...

6 min read · 29 August

Stocks · News

Iran Radiator Hits Second Straight One-Year High on Tehran Stock Exchange After 36% Sapco Rate Hike Worth 103.5 Billion Tomans in Revenue (Wednesday, August 26, 2026)

Iran Radiator Manufacturing Co. (RADI) told Codal that Sapco raised its product prices 36 percent, an effect it estimates at about 103.5 billion tomans (8 percent of last year's revenue) by fiscal year end. The stock gained more than 10 percent over four sessions and today, Wednesday, August 26, 2026, closed at a fresh one-year high for the second...

1 min read · 26 August

Stocks · News

Fameli Hits a One-Year Record of 19,950 Rials on a Third Straight Rally; Its Valuation Sits in the 23rd Percentile of Its Own Sector (Wednesday, August 26, 2026)

Shares of Fameli (National Iranian Copper Industries) on the Tehran Stock Exchange rose 2.99 percent to 19,950 rials on Wednesday, August 26, 2026 (Shahrivar 4, 1405), a one-year closing high and a third straight up session. The company's trailing twelve-month net profit is up 261 percent year on year, yet Sahmino's own screen places Fameli in just...

7 min read · 26 August

Stocks · News

Bank Tejarat Hits 20th Straight Rising Session and a 795-Billion-Toman Buy Queue, Still Trading 27% Below Book Value (Tuesday, August 25, 2026)

Bank Tejarat (وتجارت) closed Monday, August 24 at a 52-week high of 901 rials, its 20th consecutive rising session, then rose another 3% to 928 rials today, Tuesday, August 25, closing locked in a buy queue worth roughly 795 billion tomans. Yet under its audited Codal financial statement, the stock still trades about 27% below book value; it is up...

6 min read · 25 August

Stocks · News

Taban Enters IPO Threshold With a Claimed 40% Guaranteed Return; NAV at 960 Trillion Tomans, Net Profit Forecast at 24.8 Trillion Tomans for 2026/27 (Monday, August 24, 2026)

Tehran Stock Exchange hosted an introductory session on Monday, August 24, 2026 for the IPO of "Taban" (Taban Farda Petrochemical Group). Its NAV was put at 960 trillion tomans and the valuation report's estimated share price at 16,073 rials; net profit for 2026/27 is forecast at about 24.8 trillion tomans. The major shareholder claimed a 40% retur...

8 min read · 25 August

Stocks · Analysis

Third Straight Pharma Buy Queue in Under a Week: IRDR Hits a One Year High on a 19 Session Run With No Price Moving Codal Disclosure Behind It (Monday, August 24, 2026)

IRDR (Iran Daru) closed up 2.94% and locked in a buy queue on Monday, August 24, 2026, taking its closing price to 14,000 rials: a 19th straight higher close and a fresh one year high, 444.2% above its 2,572.58 rial low of September 24, 2025. Unlike DJBR and Razak, which showed the same pattern recently, Sahmino found no price moving material discl...

7 min read · 24 August

Stocks · News

DJBR Jumps 14.53%, Extends Winning Streak to 10 Sessions and Hits a 52-Week High; 13 Days After Bank Employees' Pension Fund Exited Its Stake (Monday, August 24, 2026)

Tehran Stock Exchange ticker DJBR (Jaber Ebne Hayyan Pharmaceutical) opened 14.53% above yesterday's close on Monday, August 24, 2026, closing at a 10th straight higher session and a 52-week high of 44,340 rials, on volume 17.8 times its 20-session average. The rally began just 13 days after the Bank Employees' Pension Fund sold its entire 16.58% s...

6 min read · 24 August

Stocks · Analysis

Vabmellat, Mobarakeh Steel, Shepna and Ikco: Sahmino's 4-Stock Weekly Watchlist, From Vabmellat's P/E of 2.99 to Ikco's Losses (Saturday, August 22, 2026)

In the first edition of its Weekly Watchlist series, Sahmino examined four Tehran Stock Exchange names for the week ahead: Vabmellat, Mobarakeh Steel, Shepna and Ikco. All four closed higher on Saturday, August 22, 2026, and three closed locked in buy queues, but their P/E ratios and profit trends differ sharply, from Vabmellat's P/E of 2.99 (rough...

10 min read · 23 August

Stocks · Analysis

Sahmino's Screen Finds 4 High-Momentum Tehran Stock Exchange Sectors for the Week Ahead; Data Through Friday, August 21, 2026

Screening Sahmino's own trading, money-flow and fundamentals data through Friday, August 21, 2026 (30 Mordad 1405), four Tehran Stock Exchange sectors, oil refining, basic metals, banks and automotive, show the most momentum for the coming trading week. Brent stood at $93.70 at 18:17 today; Tehran's free-market dollar closed Thursday evening at 1,8...

10 min read · 21 August

Stocks · News

Razak Pharmaceutical (DRZK) Has Risen About 176% Since Its June 15 Reopening, Closing Each Session Bid-Locked; Behind the Run, a Jump in Quarterly Profit and a P/E Below the Sector Average

Razak Pharmaceutical (DRZK), halted for roughly four months, has climbed nearly 176% from its June 15, 2026 reopening to August 19, closing that last session at 3,980 rials on a buy queue, with volume about five times the one-month average. Behind the run sits the interim statement for the three months to June 21, 2026, in which net profit rose mor...

6 min read · 20 August

Stocks · Analysis

The Money Behind Iran's Brokerages: Mofid Tops the Registered-Capital Ranking of the 10 Largest Tehran Brokerages With 1,000 Billion Tomans (Wednesday, August 19, 2026)

The registered capital of Iran's 10 largest Tehran Stock Exchange brokerages totals 5,735.1 billion tomans. Mofid leads with 1,000 billion tomans, followed by Pasargad Bank Brokerage (950) and Bank Mellat Brokerage (721.1). The gap from first to tenth place is 630 billion tomans, a 2.7x ratio, but registered capital alone does not measure a brokera...

6 min read · 19 August

Stocks · Analysis

Howard Marks' Lesson for Wartime Markets: Brent Above $91 and the UAE's Break With Iran, Explained for Tehran's Bourse (Wednesday, August 19, 2026)

On Wednesday, August 19, 2026, with Brent above $91 and world gold at a fresh record of $4,355, the UAE suspended all trade and financial ties with Iran. Howard Marks' advice for days like this is clear: you cannot predict a war, but you can prepare for what it does to Tehran's bourse. This Sahmino report maps the channels and three scenarios ahead...

11 min read · 19 August

Stocks · Analysis

Ako Battery to List on Tehran Stock Exchange Wednesday, August 19, in a 29,206 to 32,934 Rial Price Range; Underwriter Values the Company at About 37,000 Billion Tomans

Ako Battery Iranian, the 11th new company to join the Tehran Stock Exchange in the Iranian year 1405, goes public Wednesday, August 19, 2026 (28 Mordad 1405), offering 4 percent of its shares (400.8 million shares) in a price range of 29,206 to 32,934 rials. Each trading code's allotment is 1,500 shares, and the offering's underwriter, Tamdon Capit...

8 min read · 17 August

Stocks · News

Noosh Mazandaran and Silva, One Day, Two Different Paths Into Iran's Capital Market: A 16.34 Percent Block Sale on the Tehran Stock Exchange and a Three-Day Silver Fund Subscription (Sunday, August 16, 2026)

On Sunday, August 16, 2026 (25 Mordad 1405), the Tehran Stock Exchange is offering a 16.34 percent non-controlling management block of Noosh Mazandaran (symbol Ghanoosh, "غنوش"), a stock trading at a P/E of 33 against a 6.48 sector average. At the same time, the Iran Mercantile Exchange opens a three-day subscription for Silva, Iran's 12th silver-b...

9 min read · 16 August

Stocks · Analysis

BBC Persian Calls Tehran's Bourse Iran's Best-Performing Market; TEDPIX's 52% Gain Against 87.9% Point-to-Point Inflation (Aug 14, 2026)

A recent BBC Persian report cited roughly 52% growth in Tehran's TEDPIX index since the war began and called the bourse Iran's "best-performing market" against inflation, the dollar and gold. But TEDPIX closed Tuesday, August 11, 2026 at 5,736,485 points while Iran's Statistical Center's latest annual inflation reading (Tir 1405) is 66%, with point...

8 min read · 14 August

Stocks · Analysis

Vabmellat's P/E Is 2.84, Versus a 4.95 Banking Sector Average; Here Is How Your Deposit Becomes Bank Mellat's Profit (Friday, August 14, 2026)

Vabmellat's price to earnings (P/E) ratio stood at 2.84 on Friday, August 14, 2026, nearly 43 percent below the 4.95 average for Tehran's banking and credit institution sector; Bank Mellat's net profit alone, in the first half of fiscal 1404, equaled nearly 18 percent of its market capitalization today. This report traces how customer deposits beco...

7 min read · 14 August

Stocks · Analysis

65 Percent Controlling Stake in Bemovalled Goes on Sale Saturday, August 15; Base Price Is 2.5 Times the Board

Iran Fara Bourse will sell a 65.05 percent controlling stake in Movalled Niroogahi Tejarat Fars (symbol Bemovalled) on Saturday, August 15, 2026. Under Farabourse's official notice from August 2, the base price equals the stock's closing price plus 150 percent, meaning the buyer must pay at least 2.5 times the board. Bemovalled, which is in a buy q...

6 min read · 12 August

Stocks · Educational

A 500 Million Toman Portfolio With a Six-Month Horizon: Tehran's Index Hit 5.736 Million Points on August 11, Screening Beats Guessing at a Correction

A Sahmino reader asked what to buy for a roughly 500 million toman, six-month stock portfolio next week, or whether to wait for a correction in Mehr (late September). Sahmino does not give buy or sell advice. Tehran's TEDPIX hit 5,736,512 points on Tuesday, August 11, 2026 (20 Mordad 1405), up about 11.3 percent over seven sessions. This report exp...

8 min read · 11 August

Stocks · News

Ehya Locks Limit Up for a Second Session; New Fara Bourse Listing Trades 36 Percent Above Its IPO Price (Tuesday, 20 Mordad 1405)

Ehya (FLBZ), the newest Fara Bourse listing, rose 2.98 percent to its price ceiling of 3,520 rials on Tuesday, 20 Mordad 1405 (August 11, 2026) and stayed locked in a buy queue, meaning the stock is now about 36 percent above its 2,582 rial IPO discovery price after just two sessions. Only 4 percent of the sponge iron producer's shares are freely t...

7 min read · 11 August

Stocks · Analysis

Kama (Bama Mining) Hits Buy Queue on Tuesday, Mordad 20; Order Book Shows Only Buyers on All Five Levels as Volume Passes Its Monthly Average

Midday Tuesday, Mordad 20, 1405 (August 11, 2026), Tehran-listed Kama (Bama Mining and Industrial Co.) rose 2.83 percent to 4,000 rials and hit its buy queue. The order book shows buyers only on all five price levels, with no sell orders at all; trading volume passed a full month's daily average within the session's first minutes. Retail traders we...

7 min read · 11 August

Stocks · Analysis

Ehya IPO Goes Ahead Monday, 19 Mordad on Iran Fara Bourse; 2,582 Rial Valuation for a Sponge Iron Producer With Over 17 Trillion Toman in Assets

A 4 percent stake in Ehya, a sponge iron producer in Baft, Kerman province, lists via a combined method IPO on Iran Fara Bourse on Monday, 10 August 2026 (19 Mordad 1405). The discovered price of 2,582 rials per share puts the company's total value at about 16.6 trillion toman, below the more than 17 trillion toman in assets it reported for the una...

7 min read · 9 August

Stocks · Analysis

Tehran's TEDPIX Hit 5.56 Million on August 9 After Five Sessions of Retail Buying Against Institutional Selling, While Iran's PMI Stayed Below 50

Tehran's TEDPIX hit 5,560,234 points on Sunday, August 9, 2026, up almost 8 percent from August 2. Sahmino's own trading data shows institutions were net sellers every single one of those five sessions while retail investors were net buyers. At the same time, Iran's economy wide PMI came in at 47.3 for the month ending mid July, the 16th straight m...

7 min read · 9 August

Stocks · Analysis

Samga Earned 1,002 Rials Per Share and Paid Out 300; A 10.2 Percent Cash Yield Against a 34 Percent Earnings Yield (Wednesday, 5 August 2026)

Samga's AGM on 22 July 2026 approved a 300-rial cash dividend per share, while earnings per share stand at 1,002 rials. At 2,947 rials on 5 August 2026 that is a 10.2 percent cash yield against a 34 percent earnings yield, a payout ratio near 30 percent. A dividend is not extra money: it leaves the company's own assets, and under staged payment sch...

8 min read · 5 August

Stocks · Analysis

Iran's Securities Regulator Enacts a Single Directive on Capital Increases From Asset Revaluation; the Article 141 Threshold Remains 50 Percent of Registered Capital (Wednesday, 5 August 2026)

Article 141 of Iran's Commercial Code states that if losses wipe out at least half of a company's capital, the board must immediately convene an extraordinary general meeting to decide on dissolution or continuation. Iran's Securities and Exchange Organization approved a single directive on capital increases from asset revaluation on 22 June 2026,...

12 min read · 5 August

Stocks · Analysis

Operating Cash Flow to Net Profit: Why Only 23 of Every 100 Units of Shatran's FY1404 Profit Turned Into Cash (Wednesday, 5 August 2026)

A company can report a spectacular profit jump and have converted almost none of it into cash. The test is the ratio of operating cash flow to net profit. In the Tehran Oil Refining (Shatran) case Sahmino published on 14 July 2026, FY1404 gross profit rose 335% to 818 trillion tomans, yet operating cash flow came in at 187 trillion tomans against n...

11 min read · 5 August

Stocks · Analysis

The Multi-Industry Group's P/E Sits at 7.61, While Three of Its Largest Members Trade Between 5.08 and 12.42 (Wednesday, 5 August 2026)

At 09:42 on Wednesday 5 August 2026 (14 Mordad 1405), the price to earnings ratio of the Tehran exchange's multi-industry group stood at 7.61, yet three of its largest members traded at 5.08, 7.81 and 12.42; the priciest member was 2.45 times the cheapest. The sentence "it is cheaper than its group" rests on three unwritten assumptions: that member...

10 min read · 5 August

Stocks · Analysis

Trailing P/E Under 87.9 Percent Inflation: Isfahan Oil Refining's 6.0 Is Closer to 11.3 in Today's Money (Tuesday, 4 August 2026)

The P/E ratio divides today's price by profit earned over the past twelve months in yesterday's rial. With year-on-year inflation at 87.9 percent in Tir 1405 (July 2026), numerator and denominator are two different currencies. Restated into today's purchasing power, Isfahan Oil Refining's P/E moves from 6.0 to about 11.3, National Iranian Copper's...

10 min read · 4 August

Stocks · Analysis

The Hormuz Deal Is at the Door; the Market Paid 4.4 Percent Just for the News That Talks Had Started, and Signing Is a Far Bigger Event (Tuesday, 4 August 2026)

On 4 August 2026 Trump reposted an item saying the agreement is on the verge of being finalized, the US Treasury Secretary said a deal could come today or tomorrow, and Al-Hadath reported a joint Iran and Oman statement within hours. Tehran's bourse rose 4.4 percent in two sessions on news that talks had merely begun, and the Emami coin premium def...

10 min read · 4 August

Stocks · Analysis

Three Block Offerings in One Week: 6.97, 16.34 and 65.05 Percent, and a Parcel Priced 150 Percent Above the Board (Tuesday, 4 August 2026)

Between 2 and 4 August 2026, three block offering notices were published: 6.97 percent of Pars Paper Industries Group (non-managerial), 16.34 percent of Noosh Mazandaran (managerial, non-controlling) and 65.05 percent of Fars Trade Power Generation (controlling). None of them appears on the retail board. Under the notice's own formula, the base pri...

11 min read · 4 August

Stocks · Analysis

62 Market-Making Fund Assemblies in 22 Days: What an Iranian Market Maker Guarantees, and What It Never Did (Tuesday, 4 August 2026)

Between 13 July and 3 August 2026 (22 Tir to 12 Mordad 1405), 62 assemblies of dedicated market-making funds were logged in Sahmino's calendar from Codal filings, an institution named every week and explained almost never. A market maker commits to posting orders on both sides of the board, but that commitment has a ceiling. In the session of Monda...

11 min read · 4 August

Stocks · Analysis

One Day, Three Indices, Three Numbers: Tehran's Bourse Rose 2.27, 2.39 and 2.50 Percent at the Same Time on Monday, 3 August 2026

On Monday, 12 Mordad 1405 (3 August 2026), the Tehran Stock Exchange booked three different gains, and all three are correct: the free-float index rose 2.27 percent, TEDPIX 2.39 percent and the equal-weight index 2.50 percent. The gap comes from a variable the daily board rarely shows: the free-float percentage. Among index heavyweights it runs fro...

11 min read · 4 August

Stocks · Analysis

Bank Mellat Traded All Session at a Single Price of 1,199 Rials as 1.14 Billion Shares Sat Unfilled in the Buy Queue (Monday, 3 August 2026)

Bank Mellat locked at the top of its permitted price band on Monday, 3 August 2026: its first trade, session low, session high, last trade and closing price were all 1,199 rials. Behind that number, 1,138,716,770 shares of demand remained in 2,107 orders, with zero supply at all five best levels. The stock's base volume is 1 share, so the lock was...

12 min read · 3 August

Stocks · Analysis

Buyer Power Gave Two Opposite Answers in One Session: 1.6 for Iran Khodro and 0.78 for Khiman, and Both Stocks Closed Green (Monday, 3 August 2026)

On the Tehran board of Monday, 12 Mordad 1405 (3 August 2026), buyer power read 1.6 for Iran Khodro and 0.78 for Khiman. Yet both closed higher and both saw positive net retail volume. The apparent contradiction shows what the ratio actually is: a measure of concentration, not direction. Per-capita retail buying over per-capita retail selling tells...

9 min read · 3 August

Stocks · Analysis

Khimen closed both green and red on Monday: the 40 rial gap between closing price and last trade, and which one the index counted

On Monday 3 August 2026 (12 Mordad 1405), the Khimen board at Iran Khodro's Iman Khodro Shargh carried two numbers with opposite signs: a last trade of 4,440 rials (up 0.23 percent) and a closing price of 4,400 rials (down 0.68 percent). The gap was 40 rials, and only the second number entered the main index. Same-day data shows base volume for Teh...

10 min read · 3 August

Stocks · Analysis

TEDPIX Fell 0.4% While the Equal-Weight Index Set a Record Close; a Fourth Straight Session of Small-Cap Outperformance (Saturday, 1 August 2026)

On Saturday 1 August 2026 (10 Mordad 1405), Tehran's board carried two contradictory headlines: TEDPIX closed down 20,437 points (0.40%) at 5,054,000, while the equal-weight index rose more than 6,694 points to 1,439,000, its highest close on record and a fourth consecutive session of small-cap outperformance. The less-noticed detail: that record w...

9 min read · 1 August

Stocks · Analysis

Why We Sell at the Bottom and Buy at the Top: Five Cognitive Errors Tehran's 1399 Bull Market Taught by the Book (Friday, 31 July 2026)

Nobody queues at a shop because prices went up, or flees because there is a sale. In equities, that is exactly what happens. Kahneman and Tversky showed the pain of losing an amount is roughly twice the pleasure of gaining the same amount, and that asymmetry explains why portfolios fill up with losers and empty of winners. TEDPIX closed at 5,075,09...

9 min read · 31 July

Stocks · Educational

A Low P/E Does Not Always Mean Cheap: Four Traps the Ratio Hides on the Tehran Exchange

The price to earnings ratio is the stock market's most used number and its most misunderstood. Karbon traded at a P/E of roughly 5.1 against its coal group average of 21.8 on 13 July 2026 (22 Tir 1405), a figure that screams "cheap" at first glance. This guide sets out what P/E actually measures, the four situations in which it misleads, why high i...

11 min read · 30 July

Stocks · Educational

How to Read a Financial Statement in 5 Minutes: A Practical Guide to Codal Reports

Codal is full of numbers, but only six of them are decisive: operating revenue, gross profit, operating profit, net profit and EPS, accumulated losses, and operating cash flow. A step by step guide to reading a listed company's income statement, with real examples from Saipa and Iran Khodro, and measured against the 61% annual inflation rate for th...

10 min read · 30 July

Stocks · Analysis

Iran's knowledge-based exports grew ninefold in four years to $2,690 million, but 84 percent of it comes from just 36 companies (Wednesday, 29 July 2026)

Exports by Iran's knowledge-based companies rose from about $296 million to about $2,690 million in four years, a more than ninefold increase. But according to the knowledge-based ecosystem report covering data through the end of 1403 (March 2025), roughly 84 percent of that figure comes from just 36 companies, while more than 12,000 others account...

9 min read · 29 July

Stocks · Analysis

20 Years, 6 Markets: Tehran's Main Index Rose About 382 Times While Money Supply Rose 119; Deposits and the Dollar Fell Behind (Wednesday, 29 July 2026)

If six Iranians each held 100,000 toman in 1380 (2001) and each put it into a different market, by the end of 1400 (2022) the gap between them was striking: the Tehran Stock Exchange main index about 382 times, gold coins about 190 times, Tehran housing about 96 times, bank deposits about 38 times, the free market dollar about 35 times and a Pride...

9 min read · 29 July

Stocks · Analysis

The Lowest Risk Starting Point for a Beginner Investor in Iran: Why a 40 Percent "Risk Free" Return Is Still a Loss Against 88.6 Percent Inflation (Saturday, 25 July 2026)

With little money and no financial background, where does a newcomer start? The honest answer in July 2026 is not a single stock, not crypto and not coins: a fixed-income fund as the low-risk core, a bullion-based gold fund as the inflation hedge, and IPOs as a supplement. But the central figure is this: the best advertised return of about 40 perce...

13 min read · 25 July

Stocks · Analysis

Tasico Under the Lens: Subsidiary Profit Jumped From About 1.2 to Nearly 4 Trillion Tomans, and the Pars Tamin Gold Line Opened (Saturday, 25 July 2026)

Sadr Tamin Investment (ticker: Tasico) has posted a marked operational leap in its subsidiaries this year: estimates say the units' combined net profit rose from about 1.2 to nearly 4 trillion tomans, from Iran Salts Mining and China Clay to Parvadeh Tabas Coal. At the same time, gold sales at Pars Tamin Mines Development have begun, targeting roug...

11 min read · 25 July

Stocks · Educational

Starting From Zero on the Tehran Stock Exchange: Five First Moves for a New Investor

If you wanted to enter the stock market from zero today, where would you start? This beginner's guide walks through five basic, evergreen investing steps: separating your risk capital and getting a trading code, understanding the business behind each ticker, starting with funds, keeping a long horizon, and managing your emotions. Principles that do...

6 min read · 24 July

Stocks · Analysis

Vomahan Cut Its Price for 5% of Taban Farda by 35%: Where the Real Value of Iran's Biggest Pending IPO Sits (Thursday, July 23, 2026)

For weeks the 5% offering of Taban Farda Petrochemical Group has been called "the biggest IPO in Iran's market history." Yet on July 11, 2026, the value of Vomahan's 5% purchase was revised down from 425 to 275 trillion rials, meaning the two counterparties themselves cut the price by about 35%. This report separates three valuation anchors, tests...

19 min read · 24 July

Stocks · Analysis

Justice Shares and the Summer That Was Promised: Where the File Really Stands, and What Liberalization Would Mean for the Tehran Bourse (Thursday, 23 July 2026)

Iran's economy minister promised people would taste the "sweetness of Justice Shares liberalization" in summer 2026. We are now mid-summer and the file is still open: the framework is approved, but the provincial investment companies' general meetings are unfinished, the prosecutor has been drawn in, and parliament's economic commission has objecte...

15 min read · 23 July

Stocks · Analysis

Kourosh Food Industry Under the Microscope: The Stock 6.4x'd in a Year, Yet Its P/E Stayed in Line With the Sector (July 2026)

In its last recorded trade, on 21 July 2026, Kourosh Food Industry (ticker "Ghakouresh") closed at its daily ceiling at a final price of 19,130 rials, roughly 6.4 times its level a year earlier. Yet its price-to-earnings ratio is estimated near 6.4, almost in line with the food sector's P/E of 6.44. Why this surge is mostly not a bubble, and where...

8 min read · 22 July

Stocks · Analysis

The Market Was Red for Eight Days; These Five Stocks Rose Against the Tide: Anatomy of "Resilience" on the Tehran Exchange (Week Ending Saturday, 18 July 2026)

In the red week when Tehran's TEDPIX index posted an eighth straight decline, sliding from roughly 5,182,622 points (11 July) to around 4,777,285 points (Saturday, 18 July 2026 / 27 Tir 1405), five symbols showed a genuine multi-session uptrend: Fanavar (Tosan), Hormoz, Vakharazm, Sarood and Kakhak. This is a descriptive, educational report, not bu...

10 min read · 19 July

Stocks · Analysis

A reader asked us: the bourse has been red for eight days. Buy gold and dollars, or hunt for war-resistant stocks?

On Saturday 27 Tir 1405 (18 July 2026) the Tehran Stock Exchange main index fell 2.44% for its eighth straight red session, the same day the free-market dollar hit a record near 194,500 tomans. A reader asked: should I pull my money out of stocks and buy gold and dollars, or stay in the bourse and look for war-resistant shares? Sahmino's neutral fr...

15 min read · 19 July

Stocks · Analysis

Behsaz Kashaneh Tehran (Sabhesaz) Under the Lens: A 74% Gross Margin and 1,877 Billion Toman Profit; How Much Is Value Creation, and How Much Is Cashing In Inflation? (Sunday, 19 July 2026)

Behsaz Kashaneh Tehran (Sabhesaz) closed its fiscal year ending 30 Azar 1404 (21 Dec 2025) with a 73.7% gross margin and audited net profit of about 1,877 billion tomans. But behind that dreamlike margin sits one fact: revenue grew only 15% in a year when average inflation hit 57.7%, meaning real sales shrank. Neutrally and with no buy or sell advi...

12 min read · 19 July

Stocks · Analysis

Vomodir Under the Lens: A 17,346 Billion Rial Net Profit and a Price to Earnings of 3.2; Why the Market Prices the Pension Fund Holding at a Discount (Saturday, 18 July 2026)

Vomodir (Value Capital Management Group of the Government Employees Pension Fund) closed its audited fiscal 1404 (ended 21 December 2025) with net profit of 17,346 billion rial (about 1,735 billion toman), EPS of 667 rial and a 220 rial dividend. Yet two thirds of that profit came from selling investments, and the market prices the holding at 3.2 t...

14 min read · 18 July

Stocks · Analysis

Ghachar Under the Lens: Chaharmahal Sugar's Sales Rose 50% and Profit 43% in FY1404; But Through the Inflation Lens, Real Growth Is Near Zero (Saturday, 18 July 2026)

Chaharmahal Food & Sugar (ticker: Ghachar), on Iran's Farabourse, reported fiscal 1404 (to 20 March 2026) results with revenue up about 50% and net profit up 43%. But on any reasonable read of 1404 inflation, this nominal growth is at best in line with inflation and real growth is near zero. The figures are still unaudited and the ticker carries a...

12 min read · 18 July

Stocks · Analysis

Dabid Under the Microscope: Dr Abidi Pharmaceutical's Six-Month Profit Jumped 3.3x; Dissecting a Surge That Didn't Come From Sales Alone (Saturday, 18 July 2026)

Mid-session today, Dr Abidi Pharmaceutical (Dabid) published its unaudited six-month statements: revenue grew 118% to 13.2 thousand billion tomans, the operating margin jumped to 50.2%, and net profit reached 3.3x at an EPS of 939 rials. A dissection shows four engines behind the jump, but three questions stay open: the cash backing of profit, the...

7 min read · 18 July

Stocks · Analysis

Vomelal Under the Lens: A 14.3-Trillion-Toman Net Loss and Negative 59% Capital Adequacy; Why Conventional Valuation Tools Fail for Mellal Credit Institution (Saturday, July 18, 2026)

Mellal Credit Institution (Vomelal) posted a net loss of 14.3 trillion tomans and negative EPS of 7,169 rials for fiscal year 1404; its capital adequacy sank to negative 59% and shareholders' equity turned negative. The ticker has been halted since November 2025 and the institution is run by a Central Bank supervisory board. Why nominal lending-inc...

14 min read · 18 July

Stocks · Analysis

Kapshir Under the Lens: Pashm-Shishe Iran's Net Profit Leapt 95%, but Real Sales Have Been Shrinking for Three Years (Friday, 17 July 2026)

Pashm-Shishe Iran (ticker: Kapshir) lifted revenue 54% and net profit 95% in fiscal 1404, pushing its net margin to 40.8%. But the sales charts show real volumes of both glass wool and Isogam falling for a third straight year, meaning the jump is almost entirely inflationary. At a Q ratio of about 0.79, the market is pricing the company slightly be...

9 min read · 17 July

Stocks · Analysis

Vomahan Under the Lens: Why Mehr Ayandegan Financial Group Should Be Judged by Price to Net Asset Value, Not Profit Margin (Tuesday, 14 July 2026)

A reader asked, "What do you make of Vomahan?" The right answer starts with one fact: Vomahan, the ticker of Mehr Ayandegan Financial Group, is an investment holding on Iran's OTC market (Farabourse), not a factory. For this kind of stock the correct yardstick is not profit margin or a simple P/E, but price to net asset value (P/NAV). The last pric...

9 min read · 14 July

Stocks · Analysis

Separdis Under the Lens: Why Maskan Pardis Investment Trades at a Discount to the Current Value of Its Assets, A Detailed Fundamental Analysis

A detailed analysis of Separdis (Maskan Pardis Investment) interim statements: revenue fell 44% yet the margin jumped to 59%, operating cash flow turned negative, and receivables and stalled projects rose. The key point, though, is the hidden asset: with 100% housing inflation, the current value of the property inventory and the 115-hectare Pardis...

12 min read · 14 July

Stocks · Analysis

Shatran Under the Lens: Is Tehran Oil Refining's 335% Gross-Profit Jump Real or Paper? A Fundamental and Forensic Analysis

Tehran Oil Refining (Shatran) in fiscal 1404 (2025/26) lifted revenue 32%, gross profit 335% and net profit 287%. But a forensic look shows operating cash flow is only 23% of net profit and accounts receivable have jumped 273%. This neutral analysis, with no buy or sell recommendation, probes earnings quality, the balance sheet, and the durability...

11 min read · 14 July

Stocks · Analysis

BAMA Under the Lens: Bama Mining's Net Profit Roughly Quadrupled in a Year, But Why the Quality of That Jump Matters More Than the Number (Tuesday, July 14, 2026)

A reader asked what we think of BAMA. Net profit at Bama Mining & Industrial rose from roughly 422 to about 1,597 billion tomans, nearly a fourfold jump in a year. But much of it came from FX-translation gains and higher global zinc prices, not more output, output volume actually fell around 6 percent. A neutral look at a profitable but cyclical, d...

8 min read · 14 July

Stocks · Analysis

Kafpars Under the Lens: A 1,519% Revaluation-Based Capital Increase and the Fundamental Root of a Decade of Shareholder Frustration at Pars Refractories (July 13, 2026)

A Sahmino reader wrote: "I have held Kafpars for ten years, nothing but losses." Neutrally and with no buy or sell advice, drawing on official exchange data and financial statements, we examine why Pars Refractories Products has failed to satisfy its long-term holders: from thin, fragile profitability to a 1,519% capital increase funded entirely by...

10 min read · 13 July

Stocks · Analysis

The Factories Are Back, the Symbols Are Not: 42 War-Damaged Tickers Worth About 35% of the Tehran Bourse Stayed Frozen Through 22 Tir (Monday, July 13, 2026)

Roughly 42 war-damaged tickers on the Tehran Stock Exchange, together about 35% of total market value, from Foolad and Fakhouz to Bafajr, Mobin and Shavan, stayed suspended through 31 Tir 1405 (July 22, 2026), even as many of the same firms restarted production. Mobarakeh Steel revived its No. 8 furnace in about 45 days, and officials say nearly 89...

8 min read · 13 July

Stocks · Analysis

Karbon Trades at a 5.1 P/E Against Its Sector's 21.8; Why the Chart's 56% Drop Is Partly a Price-Adjustment Illusion (Monday, July 13, 2026)

Karbon (Kani Karbon Tabas), a coal-mining stock on the second market of Iran's Farabourse (OTC market), trades at a 5,960-rial close, a price-to-earnings ratio near 5.1, and an earnings yield close to 20%, while its coal-mining sector averages 21.8. This data-driven report shows that much of the 56% fall from the one-year high is not a real crash b...

9 min read · 13 July

Stocks · Analysis

TAPICO Closes Persian Gulf Star Refinery's 15-Year FX-Debt File; Its 49% Stake One Step From an IPO (Sunday, July 12, 2026)

TAPICO's CEO says the roughly $3 billion FX-debt file of Persian Gulf Star Refinery has been closed after about 15 years, leaving the plant "one step" from an IPO. TAPICO owns 49% of the asset; the PTAP symbol traded at 2,962 tomans on Sunday, July 12, 2026, about 79% of its published NAV. Why the debt fix matters and what the market is pricing.

8 min read · 12 July