Tashkent, Uzbekistan (UzDaily.com) -- During the day all stocks fell in price at the Uzbekistan Stock Exchange “Tashkent” (UzSE) on 11 November. Even securities of such issuers as Kuvasay cement, Kvartz, etc. went down. The largest fall was registered on common stocks of Kvartz and Kashkadaryo parmalash ishlari, both fell in price by fourth. After sudden price growth on common stocks of OJSC Kvartz, the largest producer of structural glass in the republic, in the end of August and beginning of September from US$3.87 to US$90.05 per stock, a significant fall was registered on the reporting day.

At that time the growth was related to the fact that British Villard Invest LLP acquired 53% of stocks of this issuer at the cost of about US$7 million from American Carlton LLC. The day’s fall is concerned, perhaps, with the purchasing of stocks of OJSC Kvartz by local investor, which shows that local investors undervalue domestic stocks.

Despite the fact that all quotes fell during the day at UzSE, investors was reasonably active. On the reporting day, about 10% of both Chimyon machine-tractor fleet (Machine-tractor fleet of Chimyon district) and Vzryvprom (Explosion industry) were acquired. In the end of December IF Baraka announced about its intention to purchase 34.8% of Chimyon MTF. This announcement didn’t lead to quotes growth on these securities.

Beverages producer OJSC Mastona lost 0.54%. However, this change is related to change of exchange rate of US dollar with respect to national currency - soums. The price on stocks of Mastona in national currency remained unchanged since September.

The most active company according to the results of the day was Galla Bank. On 11 November, 30,000 preferred stocks (0.01% of authorized capital) of this bank were acquired. Despite the deal price exceeded face value by 2.4 times, it is anyway 0.38% less than the last previous trading session on these securities.

As preferred stocks represent a little more than 2% of total number of bank’s stocks, this deal didn’t have a significant impact on capitalization of Galla Bank. Taking into account the day’s quotes, capitalization of the bank is US$30.16 million. The turnover made US$5,321, this is 23.73% of total trade turnover of the day.

As a result of the deal on acquisition of 10% of Chimyon MTF (transportation sector), the share of this sector in total trade turnover took 16.55%. Total turnover of construction materials producers made US$1,300, or 6.28% of total trade turnover.

Source: Essential Investments