To Join International Payment System
- An official in the banking sector announced that negotiations are under way to connect Iran’s banking to the international payment systems, referring to the CBI enjoying the required software and hardware infrastructures; a Japanese and a Chinese companies have already voiced their readiness for such cooperation.
- According to a member in Bank Sepah board members, its Frankfurt branch is now connected to SEPA; this membership will also be confirmed by Deutsche Bundesbank having installed the required systems and trained the branch staff. This membership will then enable Iranian banks to make payments without the SWIFT intervention.
- After Mobin Trust Consortium, the majority shareholder, settled its overdue debts, the Privatization Organization of Iran put off the revocation of the Telecommunication Company of Iran privatization deal.
- La’abiran has realized IRR 176 loss per share for the 9-month period ended 20 December 2016, registering a 60% decline compared to the same period in the year before; in its budget based on its H1 performance, the company has predicted to materialize IRR 521 EPS.
- Kerman Province Development and Civil Investment has made IRR 70 loss per share in its H1 ended 20 December 2016, which posts a 43% rise in comparison with the previous year; based on its predictions, the company is to earn IRR 71 EPS.
- Tehran Oil Refining has received its capital raise permission from the SEO; the company intends to increase its capital by 33% relying on its retained earnings and reserves by 20% and 13%, respectively.
- Hormozgan-e Jonoub Steel has recognized IRR 86 loss per share in its Q3 period ended 20 December 2016, which demonstrates a 10% increase; the company has covered 83% of its estimates.
- Over its unaudited Q3 report for the period ended 20 December 2016, Motorsazan-e Iran Tractor has materialized IRR 199 loss per share while it had made IRR 28 EPS in the same period last year; the company has managed to cover 178% of its estimates.
In the Market
Over a letter to the CBI, Iran’s National Leasing Association asked this body to review the interest rate on facilities granted to leasing companies, stating that the such high rate along with other expenses, including VAT have resulted in high COGS in this industry. Therefore, most names in the Other Financial Intermediaries Industry, including Rayan Saipa Leasing, Qadir Khodro Leasing, Iranian Leasing and Bahman Leasing finished with buy queues. Technically speaking, such names also seemed to be at the end of their corrections.
Nearly all names in the Automotive space finished beneath their flat lines ; Iran Tractor Casting (+3.35%) finished in the green. Besides, it seems that there are investors in the market who tend to purchase shares of Iran Khodro and Iran Khodro Investment Development mainly due to news over their upcoming block trades; the latter also finished in the +3.02% area.
Symbols in the Food and Beverage industry went through positive trades and some like Pakdis (being recently offered) and Minoo Sharq Food Industries closed with buy queues while Kalber Dairies (+3.81%) and Behshahr Industrial (+3.87%) were highly demanded.
Eventually, tickers in the Oil Products space were positively traded with Shiraz Oil Refining closing with a buy queue. Oil Industry Investment (+3.59%) and Lavan Oil Refining (+3.06%) plus Tehran Oil Refining (+2.49%) were highly demanded, too.
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