Chemicals to outperform on Tehran Stock Exchange!
Out of the 35 companies listed on the Chemicals sector of Tehran Stock Exchange, 19 ones have released their un-audited budgets for the FY ending 19 March 2018 in a way that only 5 have reported negative adjustments and the rest have added to their profitability.
As can be seen in the above table, Sina Chemical Industries has reported the highest positive adjustment, followed by Fanavaran Petrochemical and Farabi Petrochemical while dragging its profit down by 53%, Pars Pamchal has registered the deepest decline in its profitability. Of the factors which can change such estimates, the increase in sales prices, the hike in US dollar as well as the growth in production can be mentioned.
- In its budget for the FY ending 19 March 2018, Iranian Leasing has estimated to make IRR 226 EPS, registering a 6% decline compared to that of the previous year, IRR 212 EPS.
- Releasing its projections for the FY ending 19 March 2018, Iran Carton has predicted to realize IRR 35 EPS; this register a 331% increase in comparison with the same period last year of IRR 151 EPS.
In the Market
Having released their budgets, most symbols in the Oil Products group were halted. The CEO of Isfahan Oil Refining stated that the newly announced crude prices by the Oil and Gas Ministry will result in significant adjustments in oil refining companies, which has led to the halting of such tickers. According to the CEO, this company is to upload its budget for the FY ending 19 March 2018 up until March 5th. Iranol Oil (+3.26%) and Oil Industry Investment (+1.73%) finished in the green.
Nearly half names in the Automotive industry were negatively traded; even Saipa Group (-1.13%) ended in the red despite its 33% positive adjustment. Tickers in the spare part mfg. area, on the other hand, like Iran Radiator (+4.81%), Mehvar Khodro Mfg. (+4.68%) and Zar Spring Mfg. (+3.98%) finished in the green. Today, Iran Khodro offered its 9.4% block of Parsian Insurance at IRR 3650 per share; the company is to offer Iran Khodro Development Investment block in the next week as well.
Positive trades were observed in the Metals industry, as seen in the recent session, with Zangan Zinc Industry, Zarin Ma’dan Asia and Iran Mineral Processing (+4.06%) finishing in the green territory.
Among names in the Iron Ore sector, Bafq Mines (+13.75%) was reopened with a 13% hike. Others went through balanced trades.
Finally, following their recent trends, tickers in the Food and Beverage industry went through positive trades with Shahdab-e Nab-e Khorasan and Mahram facing buy queues. Kalber (+3.86%) and Behpak Industries (+2.89%) closed above their flat lines, too.
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