- Following the review of the bill over removing barriers against the competitive production and enhancing the financial system of the country, the Parliament allowed the refineries to export petroleum products surplus domestic needs on the condition that the funds of purchased crude oil and gas condensate are paid. According to this additional provision, the settlements are required to be done based on 95% of Persian Gulf FOB price in cash or a one-month credit to the relevant state-owned company affiliated to the ministry of oil. The state is also obliged to pay an annual contribution to the national development fund.
- Piranshaher Sugar & Food Co. covered only 35% of its forecasted EPS for FY2015 (ending Jul 2015) in 6 months period. The company could make 245 IRR EPS while for the same period last year the EPS was 460 IRR. This period sales declined by 12 percent compared with same period last year. The gross profit reached 12 percent in 2Q2015. The company predicted 15 percent gross profit in FY2015. The company’s operation profit fell more than 51 percent compared with same period last year. Since Jul 2013, the share price has dropped from 10,000 IRR to less than 3,400 IRR. Currently the closest support is located at 2,800 level.
- Iran’s growth rate has reached 2.8 percent in 3Q2014 (ending 20 Mar 2015) which shows 3.9 and 4 percent decline compared with 2Q and 1Q respectively, the economics ministry reported. However, compared with same period last year the growth rate has increased from -2.2 to 2.8 percent.
TSE at Glance
IFB at Glance
Trading Halts & Delays
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During the past few days the index has had a good return to 65 thousands level. Currently the index has stood on its resistance level during its 3 months downward trend. For breaking up this level a significant trading volume is needed while passing the 66thousand level before the New Year and in only two days seems impossible. Still the main affecting factor in market is the news coming from nuclear negotiations.
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