More Focus on Non-Oil Export
* The Minister of Agriculture announced the $1 bn target for dairy products exports in the current year; it is so while Iran made $773 mn out of export in the previous year. As statistics show, Iran has managed to experience a 70% growth (to hit 300,000 ton) in the first quarter of the current year (mostly to Russia and European countries), which makes the accomplishment of the said target more probable.
* An agreement, worth $ 1.6 bn, is planned to be signed between Tabriz Oil Refining and a Consortium made up of Korean companies, to produce high quality products compliant with Euro5 standards.
* Iran’s oil export in July grew by 45,000 barrels per day, to reach 2.2 mn, to Asian and European markets compared with the previous month.
- Holding IRR 250,000 mn in capital, Kalber Dairy Products has predicted to realize IRR 122 EPS for the FY ending 20 March 2018 based on its Q1 performance; the company had estimated to realize IRR 146 EPS in its previous predictions.
- Silica Sand has announced to recognize IRR 278 EPS for the FY ending 20 March 2018 with IRR 162,000 mn in capital; with its previous estimate of IRR 88 EPS, it has positively adjusted its EPS by 216% and covered 9% (equal to IRR 24) of it in the first quarter of the year; this huge adjustment is attributed to the sales of a company’s building.
- Bank Gardeshgari (Bank Tourism) has managed to realize IRR 28 EPS in 6-month period ended June 21, 2017 while it had made IRR 983 loss per share in the same period last year; the bank has covered 65% of its predictions in this period.
In the Market
Although global commodity prices have remained stable, threats and new sanctions have raised the political risk of the country, adding fuel to the US dollar price fire, gradually starting a rally. Besides, it has been heard that the list of cabinet members will be delivered to the Majlis on Tuesday.
Considering the probable growth in dollar price, symbols in the Metals and Oil Products industries are expected to become of high value. In the latter, Tehran Oil Refining and Lavan Oil Refining faced buy queues early in the session; however, they finished with slim gains.
Such a similar trend was seen in the Iron Ore sector led by Iran Manganese and Iran Zinc Mines Development facing buy queues. The next gainer was Bafq Mines going up more than 2%.
Technically speaking, names in the Automotive space are at the end of their correction phase, making them ready for a growth; nearly the whole industry closed in the green. Indamin Shock Absorber, Pars Khodro, Charkheshgar and Zamyad faced buy queues.
Following the recent sentiment in the Non-Metallic Ore space, most tickers finished above their flat lines with Gas and Glass, Azar Refractories and Iran Refractories going up more than 4% and 3%. Lia Company, on the other hand, shed more than 4% closing with a sell queue.
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