Iran Debt Market; and the Winner Is?!
– Iran Debt Market issues with the highest yield have been reported below until 24 January 2017:
– The government spokesman announced that the administration is to pay $ 11.6 bn of its debts to banks until the end of the current year, which is aimed at lifting banks and adding to their lending power.
– On the Sixth Annual Conference of Monetary and Fiscal Policies, the governor of the CBI mentioned bank management, independent bank auditors, the Securities and Exchange Organization of Iran as well as the government as the pillars that would uphold transparency, concentrating on transparency, disclosure and accountability in the banking sector, in addition to pointing out to the importance of establishing corporate governance committees by bank managers.
– Major oil and petrochemical companies of Germany have expressed interest in Iran’s oil sector. Since the JCPOA was hit, many meetings have been held between Iranian and German officials, which if finalized (some MoUs have been signed), will result in investment contracts worth $12 bn.
– Holding IRR 45,700,000 in capital, Bank Tejarat has predicted to make IRR 93 loss per share fot the FY ending 20 March 2017; the company has covered 61%, equal to IRR 57 over the H1.
– Estimating to make IRR 760 EPS for the FY ending 20 March 2017, Kimia-ye Zanjan Mineral has realized IRR 1024 EPS over the Q3 period, covering 81%; the company has positively adjusted its EPS by 67% to stand at IRR 1270.
– Lia Company is to raise its capital by 500%, to reach from IRR 80,820 mn to IRR 484,920 mn, based on investors’ paid-in capital, claims as well as the retained earnings.
– Over the Q3 ended 20 December 2016, Bank Karafarin has realized IRR 150, covering 40% of its budget; this figure registers a 9% drop compared to the same period last year.
In the Market
Slow and steady was the theme on today’s affairas the major averages opened lower and did not advance throughout the duration of the session, therefore almost all the giants closed solidly lower. The TEDPIX (-0.26%) picked up steam in the last minutes to finish a step behind the previous day. Analysts believeس that today, one of the most important technical support levels of the main index has been broken.
Investors replaced yesterday’s pessimistic tone on banking tickers with a risk-on attitude . The change of heart was most obvious in Mellat bank trades, which gained a small part of Tuesday’s loss. The sector’s giant shares changed hands for more than 150 mn and the ticker closed at IRR 1,211 (+0.41%). With all the happy news on other big banks to re-enter the daily trades, it seem that the liquidity lock-up of investors funds shall be opened soon.
Generally speaking, investors traded “Chemicals” at cents under dollars, but they were more drastic to the big-caps. Parsian Oil & Gas stamped the most negative points on today’s index (-28.29) with near 4 mn traded shares. Eventually the ticker closed at IRR 1,745 (-1.69%). Persian Gulf & Pardis Petrochemicals followed the trend as well. There were only small and micro caps to compensate for the sector which was not powerful enough to lift up the deceased.
Finally, despite the fact that thanks to president Trump, global commodity price jumped though the weekend, Metals were disappointing as hell on today’s trades. Is is safe to say that all of the tickers that have something to say for the sector, were closed in deep red.
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