- Iran with 72 cement companies is one the major cement exporters in the world. With 110 percent growth during the last 10 years, the production in this sector has reached 70 million tons annually. In 2002, regarding an approved comprehensive plan, most of the cement companies started to launch new production lines and increased their production capacities by 2-3 times which led to high cost of depreciation and interest expenses for foreign loans in past few years. Moving toward free rates for cement prices was the goal of this comprehensive plan. However, the contrary previous government actions led the prices fall to less than one fifth. Currently this sector is dealing with 15 Million tons excess surplus due to rigid controlling in prices besides the current recessions in the construction sector. For supporting the cement sector, the Housing and Urban development Ministry has suggested using concrete cover instead of Asphalt in road projects. Currently the cement consumption is 720 kg per capita in Iran which is planned to reach 770 in case of positive growth rate.
- Iran Saderat Bank is preparing to sale 9.63 percent of Ghadir investment shares on 9th of March 2015 and moving out from the shareholders list of this company. 3 billion and 467 million and 942 thousand and 736 shares with the base price of 3,303 IRR are going to be supplied in TSE by the bank, 15 percent of which should be paid in cash and the rest will be set in installments. Selling assets and properties by banks could reduce their costs in next year budget. This factor could drive the profitable growth especially in state banks such as Mellat, Tejarat and Saderat.
- Tosse Melli Investment Co. released its budget for year ending 20 March 2016 with 1,114 IRR forecasted EPS. Current year forecasted EPS is 1,085 IRR. The company’s return from investments has increased by 19 percent compared with current year due to considering selling shares in secondary markets.
- Due to buying raw material by steel companies and making competitive condition the price of manganese has increased by 10 to 20 percent in Iran. The manganese with grade 21% was sold at 2,800 thousand IRR per ton and now it is sold at 2900 to 3000 thousand IRR. In addition, setting up the new lines with new technologies will increase the need of steel companies to higher grade manganese. It is forecasted that the increased demand will improve the prices by 20 to 30 percent next year. However, the manganese producers are resisting against any increase in their raw materials.
- National Iranian Lead & Zinc Co. forecasted 194 IRR lose per share for its next year budget. With 322 IRR bn capital, the company could make 264 IRR EPS for year ending 20 Mar 2013 while for the year ending 20 Mar the EPS decreased to 7 IRR lose. 82 IRR lose is also predicted for current year. In the next year budget, the LME rate for lead ingots and the IRR- USD exchange rate are considered 2,100 USD per ton and 33,000 IRR respectively. The company forecasted more raw material consumption and more costs for energy consumption. The price of this share has followed a bearish trend form 1950 IRR in DEC to 1060 IRR. Total market recovery and increase in global prices could help the share.
TSE at a glance
IFB at glance
Trading Halts & Delays
In the last two trading days the bearish trend has become more intensive. Although all the news coming regarding the nuclear talks is positive, the selling pressure is getting stronger and is expected to become worse in the following week. The index broke the 64 thousand level on Wednesday. Persisting and staying at this level could lead to lower support. The first support is at 62,400 level and the next is 57,000. Today’s trading volume was low. The liquidity is the main problem of current situation.
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