- Although due to current market recession the profit margin for the major national sectors is predicted 20 percent, this number is considered doubled in Petrochemical financial reports. The gross profit margin is forecasted 40 to 45 percent for petrochemical companies which have allocated 30 percent of market transactions. For instance, despite the reduction in global Methanol prices and decline in export earning, the Zagros Petrochemical Co. predicated 45 % for its profit margin. However, the feed rate is still a mystery in petrochemical next year budgets.
- Kousar Pharmaceutial Co. announced its board member approval on its plan for raising capital from 180 to 540 IRR bn . The company has applied for getting the SEO’s approval on its 200% raising capital plan the financing of which will be from accumulated earnings and evaluation of assets. As the result of this news, the demand from buyers increased today. If the share price could pass the first resistance level at 4150 IRR, the next would be at 4750-4800 and 5350 levels.
- Kuzestan Steel Co. released its next year budget with 801 IRR EPS. The company forecasted 33 percent decline in its EPS compared with year ending 20 March 2015. This large steel manufacturer is facing some reduction in its production and sale. In the company’s budget for year ending 20 Mar 2015, the purchase rate for Iron Concentrates from Chadormalu and Golgohar mining & industrial companies were considered respectively 12 and 11 percent of steel billet average prices. While, the sales rate for Iron Concentrates are considered 14 and 13 percent of the average price of steel billet by Chadormalu and Golgohar companies respectively. The company’s EPS for current year was forecasted 1197 IRR.
- The Iranian Iron Ore Twins, Chadormalu and Golgohar mining and industrial companies, reduced their profit by 25 and 13 percent respectively in their next year budgets. However due to being fundamentally strong, the shares have become attractive at current prices and holding is recommended. The royalty rates in both reports are considered at the approved rates by parliament.
TSE at Glance
IFB at glance
Trading Halts & Delays
Today the index rose at the slowest pace and confirms the fact that only practical and real changes in international and economic arena such as nuclear agreement, increasing in Oil prices and banking interest rate reduction could lead the market to a serious boom phase. Currently the market is influenced most by the news coming from nuclear negotiations. In controlling the inflation and stabilizing the exchange rate, the Rouhani’s cabinet has an incontrovertible accomplishment. However, we should see how the new fiscal monitory policies for the next year are going to be implies.
DISCLAIMER: This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice.
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