Khodrocar - The automotive and parts manufacturing group performed better than the stock market after a few weeks, and the industry benchmark set a new record, but the car group's stock price showed that it did not follow the general market trend and was more influenced by the variables within. It is a group that the auto industry index and auto parts industry have been shrinking in recent weeks because of the coordinates of large group symbol stocks that relate to non-fundamental factors.
At the same time, revaluing car companies and taking another step to prevent more car makers from losing out and going bankrupt have been other influential reasons for auto stocks.
Accordingly, as the Saipa CEO announced yesterday, the group saw a 450 percent increase in assets from its asset revaluation, which has expelled Saipa from Article 141 and bankruptcy. In this regard, Iran Khodro and Saipa have issued invitations to participate in the General Assembly, which will be held by the aforementioned companies before the beginning of the New Year and on March 4-5 with the aforementioned general meetings on raising capital from surplus. Revaluation of assets will make the final decision operational.
But it is certain that the trend of auto stock growth will be vulnerable to overnight decisions like other stocks, which the new proposal, although canceled hours later, could hit the benchmark on Saturday.
"The official announcement by the stock exchange that the daily stock price volatility drop from 5% to 2% would certainly raise concerns about the capital market and the decline in corporate stocks, including cars, due to the possibility of prices bubble with the decision of the chairman of the Supreme Council. The exchange and the head of the central bank were abolished, but raised concerns about future implementation of the law.” Homayoun Darabi, expert of stock exchange market told khodrocar reporter.
"This trend could lead to lower investment attractiveness and new liquidity inflows, and ultimately lead to capital outflows.” He added.
"Although the law is not currently operational, some shareholders of the auto group, whose shares are due to cease at the end of this year, believe that a few-day suspension after raising capital and reopening in the new year could pose risks to them.” He said.
Now we have to see how many records the automakers will be able to record in the remaining days of the year and to hear the positive news of the car stock market, while definitely holding a general meeting to raise the capital of car makers before the Nowruz holidays.