Tehran Stock Exchange (TSE) declined for three consecutive days from the beginning of the week. However, following the news of the upcoming offer of iron ore at Iran Mercantile Exchange (IME), the two largest iron ore mines, Gol-e Gohar and Chadormalou Mine, had the most positive effect on TSE’s main index, TEPIX. On Wednesday noon, TEPIX total decline over the week was 0.22 percent to closed at 98,157 points. See the charts above.
Industrial Management Institute of Iran introduced the top 100 Iranian companies according to their performance in March 2016-2017. Total revenue of these 100 companies was equivalent to 5500 trillion IRR (148 billion USD) during the Iranian fiscal year of 1395, making almost 36 percent of Iran’s GDP. The Top 100 companies’ revenue has been up 17.7 percent with respect to March 2015-2016. Nearly half of this revenue has been generated by the top 15 companies.
The Top three companies according to their sales are: Bank Mellat Holding ($7.6b), Persian Gulf Petrochemical Co. ($7.1b) and Iran Khodro Co. ($6.7b). Find more details on our “Iranian Companies” section of IEB.