- Chemi Darou Pharmaceutical Co. announced 16 percent positive adjustment for its current year EPS. The company could cover 63 percent of its first forecasted EPS in this year 9 months period. Hence the forecasted EPS has been changed to 1,550 from 1,330 IRR for year ending 20 Mar 2015. In its next year budget the vial production has increased by 45% compared with this year. The company also considered 20 percent jump in its rate of vial sale. The 70 percent jump in the sale volume of Suspension is also notable. Totally, the company made some changes in its sale combination and the volume of sale has improved by 18%. This budget is kind of optimistic and negative adjustments are expected for next year.
- Isfahan Mobarakeh Steel Co. released its next year budget with 453 IRR return per share for year ending 20 Mar 2016. The forecasted EPS shows11 percent decline compared with this year. The company also predicted 508 IRR return for current year according to which the company’s EPS will decrease 18 percent compared with last year if realized. It should be noted that the exchange rate for uses and sources of company has been considered according to the free float exchange rate at 35,000 IRR. Mobarakeh, like other shares in the market, has experienced high fall in prices. However, it must be noted that the growth of this fundamentally strong share depends on the overall market recovery.
- Ansar bank announced its capital raising. Based on this report, the 33% capital raising for this bank is approved and the company’s capital will be raise from 6000 IRR bn to 8000 IRRbn. The main proposes are to increase capital adequacy and reach the legal levels for banks besides balancing the assets and investment to capital ratios. The financing will be through retained earnings and cash receivables.
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The companies’ next year budget reports are being released one after another. It could be said that except the Pharmaceutical sector the rest forecasted downward trend for returns. However, the fall in budgets doesn’t necessary mean continues bearish trend for the share prices. Some of these reports are already included in current prices. The index has remained in its place for the last week and is expected to be the same for next few days. Today, 15- Million shares block trading on Mobarakeh had the most positive effect on TSE overall index. Still the volume of trades stays at low levels. As we are getting closer to the end of Persian year (20 Mar 2015) more willing for sale is expected from legal investors to provide liquidity and make their portfolios less risky.
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